But, for those of us who do not have the cash to cover the cost of solar, there are an abundance of finance options. The easiest method is often to sign up for a loan through your solar contractor, many of which will qualify you online within minutes. Some of them offer fantastic rates of 2.99% or 3.99%, or even 18 months “same as cash.” Does this sound too good to be true? Well, it is. Solar contractors must pay fees to the loan provider for the privilege of offering these loans. Those fees are often thousands of dollars per loan, and are of course passed on to the homeowner in the form of higher solar contract prices.

Other loan options require more effort on the part of the homeowner, but this effort can translate into significant savings. Here are some of these options… let us know if you think of others that we’ve forgotten:

1. Equity loan / HELOC/ Cash-out refinance:  this is a loan against your home equity. This might require small fees upfront and maybe even an appraisal, and it may take some time to complete the process. But the interest rate can be quite attractive. And for many homeowners, the interest portion of the loan payment may be tax-deductible. Sometimes homeowners borrow against a second home or a rental property, rather than the home on which the solar will be installed.
2. Collateral loan:  Some homeowners are able to use their retirement account or other asset as collateral for a loan. This is done either through your bank or credit union, or through the company holding your investment accounts (certificates of deposit [CDs], brokerage accounts, life insurance, 401K’s, etc.). Alternately, some homeowners have even used their automobile or motor home as collateral in order to finance their solar purchase (i.e. car loan).
3. Property Assessed Clean Energy loan (PACE):  This is a relatively new category of loan, available in many (but not all) regions. The loan is taken on behalf of the home, and paid back on the homeowner’s property tax bills. The main benefits are that the loan does not require the homeowner to meet FICO or debt/income thresholds in order to qualify, and it does not show up on the homeowner’s credit report. That means that it will not affect your ability to borrow for something else. There may also be some tax benefits. The main downsides are that there are significant fees that are rolled into the loan, the interest rates are relatively high, and the accrued interest between annual loan payments can be significant.
4. Credit union solar loan:  As distinct from other solar loans, some credit unions offer no-fee or low-fee solar loans to homeowners at very reasonable rates. At the time this blog was posted, the author is unaware of any solar loans available to homeowners through banks, and is aware of  only a few solar loans offered through credit unions. However, the ones that do exist can offer quite favorable terms. The downside is that the approval process may require several emails or even a trip to the credit union, and may take a couple of days instead of a couple of minutes (depending on the credit union). Some homeowners use no-fee loans of this type as a short-term loan to cover just the portion of the solar contract price that will come back to them in the form of a tax credit — don’t forget that there is currently a 30% solar tax credit that is set to start phasing out after 2019!
5. GRID Alternatives:  If your family is below specific income thresholds, you may qualify for a free solar installation from the government through the SASH Program. GRID Alternatives is the administrator of this program, so contact them to learn more. But be very cautious when looking at this option, as there are a ton of disreputable companies pretending to be affiliated with the government or the utility, and that use misleading language to lend themselves an air of authority.
6. Get creative!:  Some homeowners have gotten loans with which to buy solar through special programs offered by their employer, because of their military background, or through a club or professional affiliation. Homeowners will sometimes borrow money from a family member or a family trust, if they know they’ll be able to pay it back quickly. Or sometimes they can even finance a portion of the solar contract on a credit card — again, if they know they’ll be able to pay it back quickly.

A solar installation on your home can save you a lot of money. Most San Diego area homeowners can obtain loans with which to finance their solar installation that offer much lower payments than they’ll be saving each month. That is, they’re cash-flow positive from Day 1! If you’d like to look at a solar proposal specifically designed for your home and your electric needs, or if you’d like to explore further which finance option makes the most sense for your family, please contact the experts at San Diego County Solar.

Disclaimer:  When considering options that may include tax benefits, we highly advise speaking with your tax professional regarding your ability to capture them.

The post Creative Financing Options appeared first on San Diego County Solar.

• Hot does net metering work with SDG&E?
• What are the pros and cons of solar?
• How do the tax credits work?
• What does solar cost?
• What are the different finance vehicles available?
• When does it make sense to buy vs. lease?
• In what situations does solar not make sense?
• How do you size a solar system that that will cover your future electric needs?

These classes are taught by Seth Tilley, a 12 year veteran of the solar industry, with experience and education in renewable energy, real estate, and business. And also by Ken Roberts, an engineer with 19 years experience in technology, a certification by NABCEP in Technical Sales, and a laser-focus on educating the public about the often-missed important details.

Please reserve your seat now at an upcoming educational seminar. Take note, there will be no sales and no pressure at these meetings — just information from two local solar experts.

Click HERE to register for one of the four time slots.

• 9/29/18 10:30-11:30am – Bonita-Sunnyside Library
  • 4375 Bonita Rd. / Bonita 91902
• 10/06/18 -10:30-11:30am – Oceanside Library Mission Branch
  • 3861 Mission Ave. / Oceanside, 92058
• 10/13/18 – 10:30-11:30am- La Mesa Adult Enrichment Center
  • 8450 La Mesa Blvd. / La Mesa, 91942
• 10/20/18 – 1:30-2:30pm- Carlsbad Library Dove Branch
  • 1775 Dove Ln. / Carlsbad, 92011

Click HERE to register for one of the four time slots.

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We’re creating more good jobs with affordable solar power through the Green Collar Solar Program.  Now, homes with smaller electric bills can realize significant savings with low-cost solar energy systems.

How does the Green Collar Solar program make solar affordable?

We’ve taken everything we’ve learned designing and installing solar panels to bring affordable solar power to market.  We can install these low-cost systems on select, solar friendly homes.

How affordable is it ?

Homeowners with no upfront money and electric bills from $75-$150 can reduce pollution while saving money with solar power.

This is not a lease.

With available $0 down payment solar financing you can own your Green Collar Solar power system.

No appointment with a salesperson is required to get a free estimate?

Just call (760) 230-2220 and we will provide you with a detailed free estimate based on your home and electric bill.

The Green Collar Solar program was created by San Diego County Solar and is not available through other solar installation companies at this time.

The post Affordable Solar appeared first on San Diego County Solar.

The post Is bigger always better? 5 things to consider when looking for a solar power system. appeared first on San Diego County Solar.

San Diego County Solar is pleased to announce availability of the new, increased power 280 watt LG Electronics solar modules.  This new offering from LG will lower the cost and reduce the available space needed for photovoltaic installations.

monox-neon-lg280n1c-data-sheets-82117

By producing approximately 10% more power than most competitors, we can reduce the labor and balance of system costs passed through to our customers.   These LG Electronics Neon solar modules enhance our ability to offer the best value in solar to San Diego County homeowners.

The post LG Electronics – Neon Solar Modules appeared first on San Diego County Solar.

I can’t say with certainty that it will cost less to install solar panels in the future.  Today in San Diego, solar panels account for about 20% of the cost of a typical residential solar installation.   So considering the Federal Income Tax Credit will pay for 30% of the cost of installing solar panels on your home through 2016, the panels would need to be free from that point forward just to maintain current pricing.

The inverter accounts for approximately 10% of total system cost, so there’s potential for savings there.  If the cost can be cut in half, that would knock 5% off the total.

The balance of materials is a mix of aluminum, stainless steel, copper, conduit, etc…  Then there is transportation, labor, permitting, insurance, licensing, marketing, overhead and a little profit for the contractor.  I don’t see prices for aluminum, steel and copper going down much if any over time.  While I expect we’ll see some innovation to reduce installation costs, I believe it will have only a marginal impact on the  overall cost of a residential solar panel installation.

Because solar panels begin paying for themselves as soon as you have them installed, the sooner the better.  The money you’re sending to the utility company every month could be paying for your system!

The post Will solar panel installation cost less in the future? appeared first on San Diego County Solar.

Not every home is well suited for solar power.  Approximately half the population lives in rented property, some homes don’t have good sun exposure and nearly a third of homeowners don’t meet credit requirements to finance a solar power system.

Solutions are on the way.  “Solar Gardens,” or SDG&E’s program, “Share the Sun,” will likely be available soon for people who would prefer solar energy, but for one reason or another it hasn’t made sense for them yet.

SDG&E’s Share the Sun program is currently under review by the CPUC and SB843 is making it’s way through the California legislature.  When these programs become available, consumers will be able to subscribe to a solar energy system located within SDG&E territory.  They’ll receive credit on their monthly utility bills for solar energy purchased through their subscription.

We’ll keep you posted as details become available.

The post Solar power for all – San Diego County Solar appeared first on San Diego County Solar.

It may be awhile before we see power generation at San Onofre nuclear power plant.  The plant has been shutdown since January 31st, 2012.

An article in today’s LA times blog reports the problem is a small leak in one of the plant’s steam generator tubes.  Apparently vibration causing the tubes to rub against one another is resulting in premature wear on the tubes.

Because the San Onofre plant provides as much as 20 percent of San Diego County electricity, there are already calls for people to conserve energy – especially on hot days when peak demand spikes.

Solar power is a natural solution.  On sunny summer days when peak demand typically occurs, homes and commercial buildings with solar panels are making their own power.   Additionally, they’re  sending surplus energy to the grid, helping to prevent the need for rolling brown outs.

The post San Onofre Nuclear Plant – San Diego County Solar Power appeared first on San Diego County Solar.

San Diego County Solar recently designed and installed this solar power system for an Oceanside, CA homeowner.   Power from the sun is harnessed by (17) LG 250w monocrystalline solar panels.  Matched to Enphase microinverters, this Oceanside   installation provides exceptional performance, free web-based monitoring and a 25 year major component warranty.

The post San Diego Solar Power with LG Solar Panels and Enphase Microinverters appeared first on San Diego County Solar.

For example, the popular Sharp 235w monocrystalline module measures 39.1″ x 64.6″ or about 17.5 square feet. So for a typical system in the 5,000 watt range, you would need approximately 400 s.f. of available space.

The post How Big Are Solar Panels? appeared first on San Diego County Solar.