Solar Energy Financing Options in Vermont
Vermont solar energy financing options include cash purchases of a home solar system and going solar through a 20-year solar lease. Both options have their benefits and make sense for different budgets.
Owning a solar system in Vermont is made easier with a low-interest 15-year loan available to all VT homeowners through a local credit union we’ve partnered with. The loans can be between $5,000 and $200,000, and combined with Vermont solar energy rebates and incentives, can cover the entire cost of a home solar system. Financing through a Vermont credit union means your investment stays in the state and provides your friends and neighbors with similar opportunities to enjoy the benefits of clean energy.
A Vermont solar lease allows homeowners to start saving money on electricity immediately with little to no money down. System maintenance, insurance, and performance are guaranteed for 20 years and you can tailor your monthly payments to meet your needs. It’s an unquestionably simple way to go solar.
Leasing vs. Owning Solar Panels in Vermont
- Electricity rates:
Lessees save money right away but when averaged over 20 years, system owners pay the lowest rates.
- Free electricity:
After a purchased system has paid itself off with electricity savings (usually in 5-10 years), the power it generates is completely free for the owner.
- System care:
Maintenance, insurance and repairs are all included in a 20-year solar lease. Home solar systems are remarkably self-sufficient, but owners are responsible for any problems that do arise with their systems.
- Vermont solar incentives:
Lessees’ rebates are applied to their monthly payment to keep it as low as possible. System owners own their system’s Vermont solar rebates and receive them in the form of a check or income tax credit.
- Environmental benefits:
Whether leasing or owning, an investment in solar energy pays off for the homeowner and everyone in their community by reducing pollution from fossil fuel burning, helping to create a healthier environment.