When it comes to going green, especially utilizing solar energy, California leads the nation. Our solar industry is booming. It’s never been easier or more affordable to go solar. The homeowners might be eligible for 30% Federal tax credit.
How to use solar energy?
1) Traditional lease
2) Pre-paid lease (using loan like PACE/HERO pay 20 years in advance for discount)
3) Power Purchase Agreement (PPA)
4) Purchase/Ownership
Effective 1/5/2018, properties encumbered with PACE obligations will no longer be eligible for FHA and Conventional insured forward mortgages.
Solar panels are a long-term investment, so you should consider your plans for the future when choosing how to install them.
If you sell your house — Does the contract:
let you move the system to your new home? What will it cost?
let you transfer the contract to the buyer?
require you to give the company written notice?
require the buyer to meet credit requirements before takng over?
Further Resources:
A homeowner’s Guide to Solar Financing —
Clean Energy States Alliance / U.S. Department of Energy
Clean Energy Financing (Center for Sustainable Energy)
California Hub for Energy Efficiency Financing (CHEEF)
Federal Trade Commission Consumer Information
