If you lease your solar panels you are not eligible for the federal tax credit or illinois shines incentive programs.
Illinois solar panel lease.
Leasing solar panels works similarly to leasing a car.
Certasun focuses on third party ownership agreements with residential customers meaning the company builds and owns solar installations and customers pay them for the energy or to lease the solar panels.
Then we provide detailed analysis of how each works.
This covers up to 25 years of low energy costs with no monthly bills and includes our sunrun guarantee.
We ve created a tool that asks you a few questions and recommends whether you should pursue a solar lease loan or outright purchase.
We have two easy solar leasing options.
Another choice that solar shoppers have to face is how to pay for a solar panel system.
Solar lease in illinois.
For illinois the average solar payback period is 9 31 years.
Buying solar panels requires an investment and more decision making than leasing but over the long term the benefits of owning your system are hard to beat.
In return you get all of the solar energy the panels produce which cuts down your electric bill.
Solar lease contracts are usually for 20 to 25 years.
In many cases this reduces the payback time to five to seven years.
Solar loan installing a solar pv system in illinois with a heloc is a great option because you will see positive cash flow right away after year one.
Fortunately there are many financial options available to ensure the customer can afford installations.
Illinois allows solar leasing where a third party installs and owns the pv system and you pay a monthly fee.
Lease illinois solar panels by making one upfront payment.
Most solar leases require 0 down and solar leasing companies make it easy for you to sign an agreement on the same day.
You pay a fixed monthly payment to a solar installer but you do not own the solar panels.
Combined these two credits can help you pay off up to 60 of your installation cost within one year of your panels being connected to the grid.
As with any other major financial commitment shopping around is the best way to ensure that the solar financing that you choose is the best option for you.
However solar leases and ppas are still 20 year contracts.
