In today’s evolving renewable energy marketplace, the benefits of installing a solar power system are quickly overcoming the impact of costs. Industry-wide competition continues to drive the prices of panels, inverters, and additional components down, providing more financially manageable options for consumers of all levels.
Currently, a federal tax credit of 30% is available for all new solar power installations. This includes expenditures like labor costs, assembly or installation, and piping or wiring to interconnect the system to a home or business. Plus, commercial customers can depreciate the costs of the equipment over time. And, if the federal tax credit exceeds tax liability, the excess amount can be carried forward to the next taxable year.
Ready to go solar but don’t have the cash? No problem! We offer several financing options that allow our customers to spread the cost of their solar energy systems out - over time - so they can start saving money today.
Offers loans for residential solar projects up to $50,000 with no money down in terms of 8, 10, 12, 15 and 20 years. Interest rates vary from 2.99% to 9.99% depending on term and credit rating. All loans include a dealer fee (points on the loan) which can be added to the principle balance keeping the down payment at zero. Cal Paso Solar Electric can process applications very quickly over the phone, for instant pre-approval. Paperwork is very minimal and the loan is secured by a lien on the solar panels - not a 2nd lien as in a home equity loan.
Offers home equity lines of credit for solar power projects. A home equity line of credit is a form of revolving credit in which the home’s equity serves as collateral. The approved amount of credit is based on an appraisal of the current value of the home. There is a minimum loan amount of $25,000 and a maximum of $500,000. Interest rates are generally about the same as current mortgage rates and the term is for 25 years. A home equity line of credit provides the option of paying interest only for the first 10 years or it can be pre-paid in any amount, at any time, with no penalty. This is by far the most flexible type of loan for solar.
Provides flexible financing solutions for farmers and ranchers through a variety of loan and lease options. They offer competitive rates, fast approval, and convenient options.
Let Cal Paso Solar Electric show you how to take advantage of all the benefits, incentives and rebates available for your unique solar power installation. Our knowledgeable staff simplifies the process and handles all of the paperwork so you can start enjoying clean, renewable solar energy for your home or business.