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How solar panels affect monthly costs:
Adding a financed solar system to your home reduces or eliminates the electric bills, which typically offsets the monthly cost of having solar, often resulting in a net-positive cash flow! In other words, solar can pay for itself and leave money in your pocket!
When purchased outright, solar power pays for itself over approximately 7 years, providing an attractive return on investment and offering 18 years of free electricity under warranty.
Can solar help pay off your mortgage faster?
The savings from reduced energy bills can be strategically used to pay down your mortgage faster. For instance, if you save $100 per month on your electricity bill due to solar panels, applying this amount as an extra payment towards your mortgage principal can shorten the loan term and reduce the total interest paid over the life of the loan.
Learn moreCombining solar financing with your mortgage:
This can be done either by including the solar panel costs in your initial mortgage, utilizing a larger loan amount, or through a separate loan specifically for the solar panels. Some loan programs are designed to handle such combinations, offering favorable terms due to the energy-efficient nature of the investment. It’s important to consult with your lender to understand the options and implications for your specific financial situation.
What our clients say about us:
Purchasing your home in cash? Solar is still a smart move!
Solar panels drastically reduce, or eliminate your monthly electricity bills. This translates into considerable savings over the years, offsetting a portion of your initial investment.
Moreover, if your solar system produces more energy than you consume, this surplus energy will be fed back into the grid in many areas, resulting in credits from your utility company. This net metering system not only means your energy is free, but you are also compensated for the excess power you generate, creating a potential income stream from your solar investment.
Learn moreWorking hand-in-hand with your real estate agent.
For you, the homebuyer, PPM’s collaboration with your real estate agent means you receive expert advice and support from both your trusted real estate agent and our solar specialists. This team effort ensures you have a clear understanding of how solar energy will impact your home purchase and long-term living experience.
Additionally, our cooperative relationship with agents allows for a more efficient and coordinated process, reducing the time and effort you need to invest.