Comparing Solar Financing Options with SunPower

Many considerations come along with choosing to install solar power on your home. But often the first question homeowners ask is, “Can I afford to go solar?”

The answer for most is yes. SunPower offers a variety of accessible financing options to suit your unique needs. While some homeowners are focused on adding long-term value to their homes with their solar installation, others want to enjoy the benefits of solar energy without a commitment to buy. Here’s an overview of SunPower’s offerings to help you decide on the right financial path for your solar installation.

Buy Your Power

Leasing a solar system or participating in a solar Power Purchase Agreement (PPA) with SunPower gives homeowners all the benefits of going solar without purchasing the system. A solar lease allows you to rent your solar system for a monthly payment, similar to renting a home or apartment. With a solar PPA, you agree to purchase the electricity generated by a solar system installed at your home instead of paying to rent the system. SunPower owns and maintains the solar system with both of these options.

Many homeowners get started with little or no upfront cost and can begin seeing cost savings shortly after system installation and activation. You’ll also have peace of mind that you are getting exceptional value from the solar system on your roof for the full length of your agreement with SunPower’s low degradation rate and production guarantee. If the solar system does not perform as expected, SunPower will provide compensation for lost production as outlined in your lease or PPA agreement.

SunPower also understands that your circumstances might change in the future, and we’ve got you covered. If you decide that you want to own your system, we’re happy to work with you to calculate an early buyout amount or weigh your options for making early payments. If you end up selling your home during your lease/PPA term, your SunPower agreement is 100% transferrable to qualified customers.

Buy Your System

A solar loan with SunPower enables homeowners to borrow money to purchase their solar system. When you become the owner of a solar system, you are in charge of its maintenance but SunPower makes this easy too. Our Complete Confidence Warranty covers your whole solar system; 25 years for all solar work and equipment on the roof (panels, microinverters and racking), 10 years for everything off the roof (monitoring system and storage system).

SunPower Financing offers competitive interest rate loans as low as 0% for 10-year loans with no penalty for prepayment. Similar to buying your power from SunPower, many qualified customers are eligible for $0-down options when buying their system. Flexible financing choices and terms from 5-25 years are available to help you minimize total financing fees or lower your monthly payment.

How do I know what option is right for me?

SunPower and its extensive network of dealers are here to help you find the best path forward for your home and your budget. Our energy consultants will help you calculate how much you can save depending on the financing option you choose and your monthly electricity usage. Once you’ve found your preferred solution, you can apply with ease and start your solar journey.

Learn more about payment options with SunPower or set up a free virtual consultation to see how much you can save.

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Original Source: https://us.sunpower.com/blog/2022/08/18/comparing-solar-financing-options-sunpower