Check out this video from The White House about a Baltimore resident who got a solar energy system installed on her home. Colorado does not yet offer PACE (Property Assessed Clean Energy) loans for home solar, as mentioned by President Obama in the video. However, Ecology Solar does offer low interest, zero-down loans for home solar systems, and PACE loans are available for businesses.
Everyone Has Access to Affordable Solar Power
Earlier this year congress extended the 30 percent federal investment tax credit until 2020, and our solar loans will float tax credit for up to 18 months at no added cost. For example, if an installed solar system’s gross cost is $15,000, the owner can deduct $5,000 on their year-end tax bill. This brings the actual system cost down to $10,000. Once the solar system is installed, the lender pays Ecology Solar the full price of $15,000. However, the lender allows the homeowner to pay down the loan principle when their $5,000.00 tax refund is received the following year. Your loan payments are set to be about the same amount as you were paying the electric company. This results in a change of zero dollars in average monthly electricity expenses.
Electric Bills Go Down Instead of Up
Over time, electricity costs will rise (historically, they always have gone up, like everything else), but solar loan payments stay the same. And here’s the best part: Once the loan is paid off, typically in ten to fifteen years, monthly expenses drop even further. Solar panels are warrantied to last 25 years, but typically last longer. So, the cash gained over the life of the system oftens amounts to tens of thousands of dollars!
Also, PACE is now available in Colorado for commercial and industrial solar applications, resulting in positive cash flow from day one upon solar panel installation. So whether you own a home or a commercial/industrial building, contact Ecology Solar today for a free, no obligation assessment and proposal.