Solar Power Loans : helping you finance the cost of going green
Up to 20 years
With a solar lease you:
- Receive the energy the panels product but you don’t own the panels
- Make monthly payments
- Have the option to buy the panels at the end of the term
A solar loan offers:
- After your loan is paid off, you enjoy free electricity for the remaining life of the system
- You receive government tax credits
- You own the solar panels
Empower Lend provides solar power loans with options to lease or buy to maximize the financial benefits of a solar energy system.
Find the Lowest Rates on Solar Power Loans
FAQ for Solar Power Loans
What are the environmental benefits of solar energy?
How does solar impact my property taxes?
Studies have shown that homes with solar energy systems are selling for more than homes without them. Your property value will only increase, though, if you own your solar panel system rather than lease it. Going solar in most parts of the country will actually increase the value of your property more than just a kitchen renovation.
How do solar photovoltaic (PV) panels work?
Solar panels absorb the energy of the sun throughout the day and convert it into electricity with direct current (DC). Most households and businesses run on electricity from alternating current (AC), so DC electricity is then passed through an inverter to convert it into usable AC power. Either you use the electricity in your house at that point or you send it back to the electric grid.
What are my solar financing options?
Solar rebates and incentives vary depending on where you live. The most significant is the 30 percent federal investment tax credit (ITC), which allows you to deduct 30 percent of the cost of your solar energy system from your taxes. Some states offer additional tax credits, and certain municipalities and utilities also offer cash rebates or other incentives.
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