Financing
Choose the best financing options for your solar installation.
When you make the decision to go solar, it's good to know you have options for purchasing and financing your system:
Purchasing your system without financing will give you the best return on investment and shortest “payback” period.
Sandbar has also partnered with Mosaic, a top solar loan company based in the Bay Area, which allows qualifying customers to go solar for no money upfront/out of pocket for solar-only, solar-plus-battery, and battery-only projects. We can help you find out if you qualify for a Mosaic loan in about 5 minutes from the comfort of your home. They have an option where there are no loan payments due for 12-months after your installation is completed so you can, if you choose to, capture the federal solar tax credit and put that money toward your loan to lower your monthly payments. There are also no pre-payment penalties if you pay your loan off early. Mosaic also has a loan product that allows you to include some Home Improvement costs (such as re-roofing and structural repairs).
You can also use your preferred lender to finance your solar and/or battery project. Many customers finance their solar installation through their bank or credit union.
Regardless of which type of financing you choose, we're always here to assist with the details and to answer any questions you may have. We also recommend consulting with your accountant, tax advisor, CPA or financial advisor on the various tax benefits and financing options when going solar.
Best Choice: Ownership
It’s our philosophy at Sandbar that owning your system outright is always the best option when it comes to going solar.
The Benefits of Ownership Include:
Receive 30% tax credit
Fastest Payback (typically 7-10 yrs. ROI)
Lowest Rates for Electricity
Increased Property Value
Discounts Offered for Cash Purchases
10 year Workmanship Warranty for Leaks and Repairs (handled locally through Sandbar) and 25 year Product Warranty through Manufacturer
Materials Top Tier, High Efficiency, and/or Made in USA
Positive Environmental Impact
2nd Best Choice: Financed Ownership
Financed Purchase can often be an excellent path to Ownership, and ranks a close 2nd on our list of recommended options when going solar
The Benefits of Financed Ownership include:
Receive 30% Tax Credit
$0 Down Available
Flexible Payment Terms (10-15 years)
Increased Property Value
2nd Lowest Rates for Electricity
10 year Workmanship Warranty for Leaks and Repairs (handled locally through Sandbar) and 25 year Product Warranty through Manufacturer
Materials Top Tier, High Efficiency, and/or Made in USA
Positive Environmental Impact
3rd Best Choice: Leases
Leased Solar Systems, often referred to as Power Purchase Agreements, (PPA's), rank 3rd on our list of recommended solar options. In this model, there are some advantages and disadvantages that consumers should be aware of when considering this route.
ADVANTAGES
Maintenance Covered During terms of Lease, (outsourced nationally)
Positive Environmental Impact
DISADVANTAGES
30% Tax Credit Goes to Solar / Financing Company
Solar / Financing Company Owns the Equipment (you can purchase at the end of the lease terms – usually 20 yrs.) Early Buyout Penalty
No Increased Property Value
Often Difficult to Sell House with Leased System (new owner must assume the lease terms)
Cannot Remove System or Make Repairs to Roof (without permission of Solar / Financing Company)
Potential Impact to Mortgage Refinancing
Materials Lower Tier, Less Efficient and/or Made in China
Sandbar Financing Options
Below is information about several options offered by trusted organizations that Sandbar has partner with to assist our customers.
Contact Sandbar Solar & Electric, and we can discuss the different plans with you more thoroughly.
Green Home Loans
Tap into the equity of your own house to finance your solar project for $0 down with rates starting at 6.25% APR for qualifying borrowers (terms apply).
Please Contact StarOne Credit Union directly to apply.
