Purchasing a system can cost anywhere between 50,000 and 70,000 per kWp, But there are solar panel financing options available to make solar energy more affordable for homeowners.
Solar Lease / PPA - This is the most common way for homeowners to finance solar energy. With solar leasing or a power purchase agreement, a third-party solar financing company, such buys and takes care of the solar panels; you pay a fixed rate for the solar electricity the system generates. This way, you skip the upfront cost and lock in low rates for solar electricity for the next 20 years. Gelsons Corporate Pvt Ltd is pioneered this type of residential solar financing and We offer two plans:
- Save Monthly - lets you pay your lease or PPA as you go.
- Save Prepaid - lets you pay your full lease amount up front, which means no monthly bill from Gelsons Corporate Pvt Ltd
Loans and Mortgages - You can also take out a solar loan or an energy efficiency mortgage from the Central or State government to finance your solar system. With loans or mortgages, you’ll still have to pay the complete upfront cost of the home solar system. At Gelsons Corporate Pvt Ltd, we offer two kinds of purchase plans:
- Advantage - if you finance it with a loan
- Buy - if you purchase the system outright yourself
Top 4 considerations for solar loans:
- Your monthly savings on your electric bills should be greater than the loan’s monthly payment, allowing you to start saving money fast.
- Save 40 to 70 percent on electricity costs over the lifetime of your system, as compared to doing nothing, by choosing a loan as your solar panel financing option.
- Solar loans have the same basic structure, terms and conditions as other home improvement loans. Some states even offer subsidized solar energy loans with below-market interest rates.
- By buying your system outright, you are eligible for financial incentives like the Renewable Asset Depreciation (40%). Interest on secured solar loans may also be tax deductible, which means additional savings on your income taxes.
New solar homes - If you’re looking for a new home, you can also purchase a home with solar panels pre-installed with Gelsons Corporate Pvt Ltd solar home financing.
Learn more about Gelsons Corporate Pvt Ltd’s plans and services and start saving with solar