Understanding the difference between purchasing the solar system with Solar System, Inc. VS signing a lease.
Our team at Solar System Inc. consists of residents from the neighborhoods of the San Francisco Bay Area (San Jose, Los Gatos, Cupertino, Pleasanton and more) Inquiries about more information regarding solar systems energy became quite noticeable. Popularized companies offering leasing options have a history of being misleading, expensive in the long-term, using high pressure sales tactics with little concern for the customer.
Benefits of Ownership:
“Buyers were willing to pay $15,000 more for a home with the average-size solar [PV] system (3.6 kilowatts), or about four additional dollars per watt of solar power” – Solar Power World
Dangers involved in leasing
- 30% of the system purchase price only can be redeemed by the system owner
- To ensure payment in accordance to the contract, a lien can be placed on your house
- Difficult and unpleasant process in transferring pre-agreed lease terms when selling property
- Continuance of depending on a third party for utility needs, and increasing rates
Federal Tax Credit
As a part of the Emergency Economic Stabilization Act (2008), solar investment tax credits (ITC) are aimed to assist the purchase of clean and renewable energy technology along with energy efficient improvements. When you buy a Solar System you are entitled receive 30% of the system cost as a tax credit. This one-time incentive is designed to carry over if not applied fully to the first year. The solar (ITC) is only payable to the system owner in order to promote investment in green energy for residences and commercial sites.