Residential Financing & Incentives
Make your residential solar panel installation more affordable
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A residential solar panel installation is an excellent investment that will save you money, increase the value of your home, and pay for itself over time. Now, with residential solar incentives and financing, making your solar purchase is easy, quick, and affordable.
Solar Energy Solutions can help you find the best path to solar ownership with financing and incentive opportunities.
Residential Solar Incentives
Solar incentives reduce the upfront cost of a solar installation and save more money over the lifespan of your system. We stay up-to-date on all solar incentives available in our service areas and will help you get the best deal on your solar installation with federal and local solar incentives.
30% Federal Solar Tax Credit
The federal solar tax credit is the best residential solar incentive currently available. It is a dollar-for-dollar tax credit that reduces your federal income tax liability by 30% of your solar installation costs, saving you 30% on your solar installation.
The Inflation Reduction Act recently increased and expanded the federal solar tax credit. The new Inflation Reduction Act solar tax credit will be available at its 30% value until 2032. It covers a significant portion of the costs associated with solar panel and battery installation.
Solar Net Metering
Net metering is a solar incentive system that allows you to export the excess energy your solar panels generate to the electric grid. Your account is credited for the energy you export and your credits can be used to pay for the electricity you buy from the grid when your solar panels are not producing enough.
Net metering policies are determined by the state and local utilities or public service commissions. Many states in our service area have changed their net metering policies in recent years. If your state has limited net metering incentives, don’t worry! Solar is still valuable without net metering and we can help you find the best option for solar installation in a state with unfavorable net metering laws.
Some Indiana utilities offer 1:1 net metering, but there have been recent changes to Indiana’s net metering policy that make the incentive less valuable for solar customers of other utilities and electric cooperatives. Solar Energy Solutions can help you navigate these rules and design a system that maximizes production while minimizing costs!
Net metering laws in Illinois require utility companies to buy back excess solar electricity from their solar customers. All investor-owned utility companies and alternative retail electric suppliers must allow for net metering in Illinois, but rates vary depending on who your utility provider is.
Kentucky net metering laws vary by utility. Some utilities offer 1:1 net metering, while others have reduced their net metering programs. Solar Energy Solutions can help you navigate Kentucky’s net metering rules and will design a solar energy system that maximizes your solar savings!
Ohio net metering policies allow you to sell your excess solar energy back to the grid in exchange for net metering credits, which can be used to offset the cost of electricity you buy from the grid when your solar panels aren’t meeting your needs. Net metering rates in Ohio vary by utility.
Virginia’s investor-owned utilities offer net metering for solar energy systems that are 25 kW or smaller. Net metering customers are credited at the full retail rate of electricity, making Virginia a great state for solar.
Solar Loans & Financing
Solar Energy Solutions offers solar financing to help customers achieve their clean energy independence goals. We are not a financial services company; all costs are passed through as we believe it is our ethical mission to bring you the best and most reasonably priced solar available, with no strings attached.
HELOC (Home Equity Line of Credit) for Solar Installation
A home equity line of credit (HELOC) via your bank or existing financial institution is usually the lowest-cost way to finance a solar project. The interest rates are dependent on credit rating and the amount of equity in your home. Some areas have special financing for home improvements. We recommend discussing your options with your bank.
Installment Loan Solar Financing
If a home equity loan isn’t right for you, other avenues exist to finance solar. Solar Energy Solution has partnered with Credit Human to provide solar financing. Credit Human is a well-respected financing provider that transparent about its fees.
We have options for multiple terms and interest rates. All options have a six-month period before the first payment is due. The loans can be amortized after you receive your tax credit to lower the payments. Loans from other providers can sometimes start low and will automatically amortize higher if the tax payment isn’t applied. Talk to one of our consultants today to find out all the options available.
