The Rural Energy for America Program (REAP) Grant, or better known as the USDA REAP Grant is now accepting applications. This includes all large or small farming operations and small businesses in rural parts of Oregon and Washington. If you own a small business, you may qualify for USDA solar grant…
There Is A Reason Why Banks Now Finance Solar
There is a reason that banks are now willing to finance solar energy installations using mainstream financial instruments. Solar panels are now demonstrating incredible longevity. Banks and lenders know that an investment in solar will add tangible value to your property for many years to come.
In addition, there is additional security added to the equation because high-quality, made in Washington solar products are warrantied for 25 years. Banks know that replacement parts will be provided if something goes wrong for a very long time.
As an example, take our favorite, local Washington solar manufacturer: Silfab Solar. If the power output any solar panel falls below 80% of its rated capacity, at any time over 30 years, they will replace it for free or buy it back from you.
Amazon, Activision, Netflix….Solar Panels?
Going solar is no longer just an environmental move; now, strong financing and incentive options have turned solar installation into a long-term, low-risk and safe investment, one that’s even safer than the stock market.
Lower solar panel costs, lower installation prices and mainstream financing options (at rates as low as 3.59% —-contact us to learn more), are now making solar power a significant investment opportunity for some households that qualify.
In addition, the use of solar energy is gaining credibility as a sort of “insurance policy” against rising utility rates, according to a new, June 2015 study published by the Institute for Local Self-Reliance (ILSR).
This new study demonstrates the rooftop solar power to be fundamentally cheaper than grid electricity in 6 US cities (without subsidies).
Stronger than S&P 500?
A report from the N.C. Clean Energy Technology Center at North Carolina State University calculated that an average home solar system provided a stronger projected return than the 25-year return from the Standard & Poor’s 500 index (this was determined by calculating first year savings, relative value as compared to S&P 500, and the cost of solar energy as compared to grid electricity).
This was determined by calculating first year savings, relative value as compared to S&P 500, and the cost of solar energy as compared to grid electricity.
Approach This Wisely
However, calling a solar company and putting up panels does not guarantee a profitable investment. You must understand how to approach this investment practically.
When it’s done properly, ROI can be achieved in a much faster time than you might expect.
Sizing is Critical
If you don’t size your system correctly, it won’t yield a profitable return.
It is critical to your investment that you use a professional, experienced solar installation company to size your solar panel system correctly. At Sunbridge, we provide free on-site evaluations to determine what works best for your home or business.
A Huge Tax Credit
The final component to your safe solar investment is a huge federal tax credit worth 30% of the solar installation’s total cost, including labor. That recoup is available as soon as the system is purchased.
The upfront cost of a solar installation can be sizable, but solar financing, once niche, has now become mainstream.
Washington & Oregon offers a wide array of financing options that will lower your upfront costs. At Sunbridge, our professional analysts can help you find the most practical financing option.
Solar’s Return on Investment
A report from the Evergreen State Solar Partnership showed that with good financing and strong incentives, you can achieve a full ROI in approximately 5 – 10 years.
Your return could be even quicker, depending on how well you approach your investment. Like we said, the key components are claiming incentives as soon as possible and sizing your system correctly. Remember – the investment doesn’t work at all without incentives, and these could be ending fast.
If you are looking for a safe, long-term investment, solar power is now as attractive an option as anything you might find in the stock market.
A Tax Deduction Only Reduces Your Taxable Income This has a complex effect on your tax return, and deciding on the cash value of a standard