Loan Options

Fact: The option of taking out a loan for your solar system has become very simple.

Fact: The cost benefit of a loan over a lease is huge (more below)

Fact: There is no maintenance needed on a PV system that makes a lease more beneficial

Fact: You're wasting thousands of dollars on a lease.

DEMONSTRATION

Let's say a 5kw system will cost you $22,500 to have installed. If you are in Colorado Springs Utilites terrirtory you can receive a rebate of $7,700 (Rebate NOT available to leased systems). Then you also get a Federal Tax Credit of $4440 (also not available to you in a leased system). $100 Savings per month on electric bill.


PURCHASING

If you where to pay cash it will look like this:

$ 22,500   PV System Installation
$   7,700   Rebate
$   4,440   FTC
------------
$  10,360  Net cost - cash out of pocket once rebate and FTC have been received.

Almost $30,000 savings in electric bills over the 25 year warranty period. All the warranties are in place and protect you from a potential system failure. But we have not received a report of one. And another potenial $12,000 savings over the life of the system.

Maintenance is not necessary. So parts may need replacing, but during warranty period your cost is $0.


LEASING with $0 down

That same system if leased will have a financial statement like this:

$100 Savings per month on electric bill
$85 Lease payment each month
20 year Lease

$  3,600 savings ($15 per month)
$ 20,400  total payout for the same system
$ 16,800 out of your pocket  - seems crazy to us.


Leasing with $2000 down to lower monthly lease payment

$100 Savings per month on electric bill
$75 Lease payment each month
20 year Lease

$  6,000 savings ($25 per month)
$ 18,000  total payout for the same system
$ 12,000  paid out for a system you do not own - seems crazy to us.

Now that cash option for the PV system is the best deal by far. It will continue working for you 10,15 possible 20 more years than the leased system. But we understand that shelling out $10,360 AND waiting for the tax credit can be tough on most people. So a simple system loan is available.


PV SYSTEM LOAN

$ 22,500  Total cost of installation
$  7,700   CSU rebate assigned to El Paso Green Energies (CSU pays us when they sign off on system)
--------
$ 14,800   Amount of Loan
$  2,900   Down payment

Monthly payment on loan $350. Electric Savings $100. Net increase on month obiligations only $250
This is only 36 months then the system is yours at a price that makes sense. No more monthly payments. 25 years of performance guarantee. $100 less on average per month on your electric bill for the next 22 years. Makes sense to us and possible you can see it too.

Need lower monthly payments? The term of the loan can be made longer.