Financing – You are paying for electricity one way or another!
Going Solar is less expensive than continuing to pay for higher and higher electric bills. Homeowners can pay for a solar solution outright, finance it through a home equity line of credit, or through your 401k/retirement program (if they allow it.) You can use your personal financial institution or one of the organizations that Michigan Solar Solutions has partnered with. Commercial and Agricultural customers can use the PACE program and may qualify for USDA REAP Grants.
Many people don’t like the idea of financing anything. In many cases, that makes good financial sense. However, when it comes to paying for your electricity, consider the following: You are making a monthly payment anyway, in the form of an electric bill, aren’t you? That bill is going to continue to increase every year for the rest of your life 4-8% . . . that’s a given. But if you choose to go solar, you get rid of part (or all) of your electric bill and replace it with an investment in your own solar array. And that investment won’t go up every year – it’s fixed. You will save tens of thousands of dollars through the warranty period. So, consider going solar and don’t be afraid to switch your monthly electricity payment to an investment in a solar array you will own outright. Think of it as an investment in your family or business!
For Residential Lending:
– Positive cash flow versus utility electricity payment
– Long Term – 12 or 20 year maturities
-Transferable if you sell your home
– Easy pre-approval
For Residential/Commercial Lending:
– Up to Ten Year Maturities
– Borrower Can Finance Other Energy Efficiency Projects With Same Loan
– Up to $30,000 for Residential Loans
– Up to $250,000 for Business Loans
– Easy pre-approval
Agricultural and Rural Businesses
USDA REAP Grants
The United States Department of Agriculture provides “. . . guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements.” REAP Grants must be applied for and are awarded by the USDA based on a point system. If a grant is awarded, it will pay up to 25% of a solar array. Michigan Solar Solutions offers USDA REAP Grant writing and submittal services at no cost to our customers. For a checklist of required documentation, read the Checklist for USDA Grants.
For Commercial Lending
– Low cost long term commercial financing
– Transferable to new property owner
– Loan amounts $250,000 – $20,000,000
More information on PACE is available by clicking on logo, below, or the video
Ensure you check the P.A.C.E. Qualified Counties and Municipalities
Let Michigan Solar Solutions help you to understand your finance options. Contact Us.