What Does the $0 Down Solar Program Mean?
November 24, 2022
Solar is one of the world’s most popular and abundantly available energy sources today. Solar technology converts solar energy into electricity through photovoltaic (PV) panels or mirrors that concentrate solar radiation. It has become even more accessible thanks to the $0 down solar program.
Solar energy is more affordable and efficient than ever before. It provides many benefits to its users, such as giving them control over their electricity, being clean and renewable, reducing energy bills, etc.
Homeowner looking for what tax credits are available to him.
Let’s dive deeper into the benefits of solar power and discuss how a $0 down solar program can help you access it affordably.
Solar's Top Benefits
Solar energy is freely available and only needs to be harvested to take full advantage of its benefits. Let’s discuss the benefits of solar energy in detail here.
A Long-term Investment
Long-term investments are the best types of investments as they offer the most returns, and solar energy is one of them. Solar panels last very long and provide uninterrupted power throughout your life. Usually, 0 down solar panels last for 25-30 years, which isn’t bad when you consider that the payback time is generally within four years.
You only need to get a high-quality solar system and then look after its maintenance, which a professional solar energy company can do.
Lowers Your Energy Bills
Even in places that get an average amount of sun throughout the year, it is possible to power your home using solar energy. Sites that get lots of sun can almost eliminate their energy bills entirely. Others can have a mix of different sources and reduce their energy bills significantly.
For instance, spring has slightly warmer days when you produce much more than you consume. You can trade the extra energy work utility. During hot summer days, the energy consumption is up but so is the generation through 0 down solar panels, so it evens out for the consumer. You can get your energy from the grid during cold days when the sun is a rare sight.
Sunny places indeed have more solar energy, and solar panels can produce electricity even when it is cloudy. However, you’d only get about 20% of the energy that you would on a typical sunny day.
Provides Clean & Renewable Energy
Solar energy is among the cleanest and most environmentally friendly sources available today. Unlike coal and fossil fuels, it does not release any harmful pollutants into the atmosphere or water supplies. It is estimated that solar energy can save us $167 billion in health and environmental damages by decreasing pollution. It will also save more than 25,000 lives.
A household that switches to solar power in New York saves 5000 pounds of coal burning and benefits the environment immensely. Capturing solar power for one hour can power our entire planet for a whole year. Switching to renewables, especially solar, is the key to transitioning to clean energy.
Offers Versatile Installation
Solar panels can be installed anywhere, providing an immense advantage to those looking for either vertical or horizontal installation. This flexibility and modularity come in handy when someone wants to install solar projects in tight spaces. However, the flexibility also allows for expansion whenever it’s needed.
The most exciting application of its flexibility is that it can reach places where other energy sources simply cannot. Solar panels are simple to install and provide a continuous energy supply on remote mountaintops where grid electricity is difficult to obtain.
Gives You Control Over Your Electricity
Solar energy is your best bet if you want freedom from utility companies and a regular bill that cripples your finances. It helps you avoid peak electricity rates and provides energy whenever the grid is down.
With electricity costs going up significantly, this trend is likely to continue in the future. Solar service agreements are much cheaper than the electricity you buy from the grids, so you have significant savings.
You can use solar-powered batteries to store the energy for later use. You can avoid a Time-of-Use (TOU) rate charged by utility companies for peak hours and rely on your solar-powered batteries instead.
Raises the Value of Your Home
One overlooked advantage of installing solar power is that it increases the value of your home. On average, solar power raises the value of your home by 4.1%, which is a significant number.
Solar installation and equipment costs are recouped within a few years. Moreover, households using solar energy get significant benefits in terms of tax breaks and lower energy bills, which also contribute to savings. When you sell the house, you make a decent profit.
What is a Zero Down Solar Program?
The $0 down solar program is a solar installation program that lets you have solar on your residence for zero down costs. It is a program designed to allow homeowners to become owners of their energy as well. You can only pay for something once the installation is complete.
The $0 down solar program works by following eight elaborate steps from inspection to installation. Let’s discuss these steps in detail here:
1- A Look at Electric Bill
The first step is to provide Solgen Power with a copy of your electric bill. By getting your electric bill, we can determine your home’s energy needs.
2- Review the Proposal
The second step of the zero-down solar program involves examining the design of your home and determining the exact costs of installing 0 down solar panels. The consultation can be done in person or via Zoom, depending on your availability. We’ll answer all of your questions in detail.
3- Getting You Qualified
The next step is getting the bank’s approval to get you qualified for the $0 Down Solar Program.
4- Site Survey
Next comes the site survey, in which we send a professional surveyor to your home who takes all the essential measurements. These include your roof and electrical panel, so everything is engineered perfectly for your home.
5- Engineering & Permitting
The next step is to get approval from the city council and utility companies so that the installation process goes smoothly.
6- Installation
Now comes the time for installing the zero-down solar program when a highly trained professional team visits your home and installs the 0 down solar panels. Usually, the installation process is completed within a day.
7- System Inspection
Now comes the time for inspection by the city council and utility company.
8- Energy Production
Once we get the required permissions from the city council and the utility company, it is time to start producing electricity through the $0 down solar program and enjoy the benefits of clean and affordable energy.
What Does $0 Down Solar Cover
Zero down solar program brings your upfront costs to zero and spreads them over monthly payments with interest.
There are different 0-down solar financing options available, such as power purchase agreements (PPA) and solar loans. Let’s have a detailed look at these financing options:
1- Power Purchasing Agreements (PPA)
Also known as solar power purchasing agreements, they work similarly to leases. After agreeing on a set price with the provider, you get cheap electricity while the provider gets all the incentives, including rebates and tax cuts.
While in PPA, you agree to purchase the power your system generates at a fixed rate. Generally, this rate is 20% to 30% lower than the standard electricity costs. The costs can increase after a few years, depending upon the agreement.
2- Solar Leases
In Solar Leases, you get into an agreement with a leasing company and pay a fixed monthly rent based on estimated production. The leasing company owns the system and maintains it throughout its life. Moreover, the company also gets all the incentives, such as rebates and tax breaks.
There are no upfront costs for the 0 down solar, but you must pay rent once the installation is complete. Usually, it is 10% to 30% lower than the regular electricity bills. Again, there might be a provision in the contract to increase these rents as utility rates go up.
3- Solar Loans
Another option is to get a $0 down solar loan, which you can use to install solar panels. You then have to pay a regular, monthly interest which depends upon installation costs, the type of loan, and loan term.
However, with this option, you own the solar system, unlike PPA and leases. Moreover, you benefit from all the incentives and tax breaks after availing of the$0 down FHA solar loan.
Why the $0 Down Solar Program is Helping Homeowners Get Solar
The $0 down solar program is helping many American households to get rid of expensive electricity bills and switch to clean and affordable energy without any upfront costs.
By paying a fraction of the market energy rate, you save significant money by switching to solar. With different financing options for the zero-down solar program, residential solar power installation in the US has increased
from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021.
As per the survey, 8% of Americans have already installed solar panels, while 39% have seriously thought about installing them. The US Government has also announced a 30% Solar Federal Tax Credit for the next 10 years to encourage people to transition to clean energy.
Conclusion
Solar energy is the way to go if people want access to clean and renewable energy. It is an affordable long-term investment that is also highly versatile. No matter what type of place you live, solar is versatile enough to be installed there and provide free energy. The US Government has also stepped up recently and announced several incentives to support homeowners wanting to transition to solar energy.
You can also have it in your home with the $0 down solar program, which offers different financing options. Choose one that suits you the best and transition to clean energy today by connecting with Solgen Power.
We have installed more than 8000 solar panels on homes since 2017 and have been called the 12th Fastest Growing Company by Inc. 5000. We have expanded into eight states and plan to benefit more people in the future.
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Solgen Power is a solar energy equipment company that sells and installs solar for homeowners. Solgen Power has been recognized by INC. 5000 as one of the fastest growing companies in the nation. Solgen Power has grown nationwide and continues to provide excellent customer service to homeowners.