Why 2016 is the Year to Go Solar

May 6, 2016

There’s never been a better time for homeowners to go solar. Federal tax credits, lower prices for solar systems and installations — solar is more affordable than ever. Our CaliforniaFIRST financing helps make your solar ambitions a reality, allowing you to purchase the system you need and repay it back on your property taxes for up to 25 years.

Why Switch to Solar?

There are a number of benefits of upgrading to a solar electric system, including:

Help Reduce Or Eliminate Monthly Electric Bills

By offsetting your need for electricity, a home solar system can greatly reduce or even eliminate your electric bills. And most experts agree that utility bills are sure to rise over the coming years, making savings with solar even more significant.

Generate Clean, Dependable, Renewable Energy

Shrink your home’s carbon footprint by generating and using clean energy. Solar is an effective energy solution for year-round electricity.

Increase Your Home’s Resale Value

Did you know a home solar system has the potential to substantially increase your home’s resale value? According to research reported in The Arizona Republic, an average-sized photovoltaic system can boost resale value by between 4-6%.

Very Low Maintenance

Once your installation is complete, your photovoltaic system requires little to no upkeep, saving you time and money.

Financing Your Home Solar Photovoltaic System

Your home solar upgrade doesn’t have to be a source of financial stress. Take advantage of the following financing opportunities to make your upgrade as affordable as possible:

Federal Investment Tax Credit (ITC) for Solar

Between now and the end of 2019, get a 30% investment tax credit when you go solar. For example, if your solar system costs $15,000, taking advantage of the tax credit means you can reduce your tax burden by $4,500 .

Switch to solar soon to get the full benefits of the tax credit, since the credit is set to decrease once 2019 hits. Between 2019 and 2022, the credit will gradually step down (to 26%, 22%, and eventually to 10%).

PACE Financing

Our Property Assessed Clean Energy (PACE) financing provides 100% upfront funding for a wide variety of energy and water efficiency products and projects. We’ll supply all the necessary financing for your solar upgrade. You’ll work with one of our registeredCaliforniaFIRST contractors. Once your upgrade is complete, you’ll begin repaying the cost of the upgrade on your property tax bill over a flexible payback period. The benefits don’t stop there. Other key benefits include:

  • Fast in-home approvals
  • Borrow up to 15% of property value
  • No prepayment penalty and free re-amortization
  • NO impact on future debt-to-income ratio

Are you eligible? Check your eligibility for our financing to get started. And be sure to check out our Happy Homeowner video series to see how homeowners have gotten the solar system of their dreams thanks to CaliforniaFIRST financing.