Solar Financing Guide for Homeowners
The Clean Energy States Alliance (CESA) has released a new guide to help homeowners navigate the complex landscape of residential solar photovoltaic (PV) system financing. The free online publication, A Homeowner’s Guide to Solar Financing: Leases, Loans, and PPAs, will help homeowners make sound decisions and select the best financing option for their needs.
The guide describes three popular residential solar financing choices—leases, loans, and power purchase agreements—and explains the advantages and disadvantages of each, as well as how they compare to a direct cash purchase. It clarifies key solar financing terms and provides a list of questions homeowners should ask before deciding if and how to proceed with installing a solar system.
A much larger share of the public has explored installing a solar energy system as the cost of the technology has fallen. Although the expanding solar market makes a residential solar system more affordable, the increasing number of vendors can make homeowners’ choices more complicated. CESA prepared the guide through the New England Solar Cost-Reduction Partnership, a project under the U.S. Department of Energy SunShot Initiative Rooftop Solar Challenge II.