Solar PV Purchase Programs
The best financial way to go solar is to purchase a system. With ownership, all the Federal tax benefits are available to you. It doesn’t matter what the cost is, every month that you aren’t paying the utility supplier, you are paying yourself back for the system. In essence, you are taking your money out of one pocket and putting it into your other pocket. Or you could continue to rent the electricity from your supplier and have increases in rate every year. Let us show you how you can benefit with ownership.
Although most residential homes having solar pv installed today are using “third party ownership” – leasing companies, due to No installation cost, the most economical system is to purchase and own it. The best way to explain this is, it is better for you to make the money, rather than a leasing company make money on your property. Yes, you SAVE money with a LEASE, but you MAKE money by OWNING your system. With the Federal Government allowing you a 30% tax credit on your income tax off the total cost of a system, plus the savings from the utility company for net-metering the electricity generated by the solar pv at retail rate value, and the payment of SREC income for 15 years, it makes sense to purchase a system. The calculated Return On Investment is over 11%, and the normal pay-off period is about 5-6 years. After you pay yourself, instead of the electric company, for those 5-6 years, your electricity will be “free”, and you will still earn SREC income for an additional 9-10 years. If you have an investment that is not earning you 11%, or you have savings or the ability to borrow money, then owning is the most economical way to make money.
If you own a business, the cheapest energy you can purchase is that which you produced. Are you tired of purchasing electricity from the utility company, or a third party supplier, that constantly gets more expensive each year? If so you should own your own generation facility – a solar pv system. 30% of the total purchase price is given as a tax credit by the Federal Government. The IRS allows MACRS depreciation. The income from SRECs (Solar Renewable Energy Certificate) and the savings of electricity enables a short pay off period, usually 3 1/2 to 5 years. During this time, you are paying yourself for the electricity, instead of the utility company. Contact us so we can show you and your CFO how going solar can increase your bottom line. Join the over 22,500 New Jersey owners of solar systems saving money every month. The additional benefits of reducing your carbon foot print and ability to express to your clients that you have “gone green” and are helping the Earth, cannot be financially calculated.
Non Profit Organizations
Due to the economics of tax advantages, ownership of a solar pv system by non-profit organizations are not usally benificial to them. Please contact us to see how you can benefit with solar on your property. A PPA is the most common form of reducing your electric cost.