Solar Cash Purchase
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Solar Panel Cash Purchases – Should You Pay Upfront for Your Solar?
A solar cash purchase is exactly what it sounds like: you purchase your panels with a full payment when you have your system installed. This method used to be the only way to go solar, but it’s become the least popular method today.
However, that doesn’t mean there’s anything wrong with a cash purchase. On the contrary, it actually allows homeowners to capture more savings than any other solar financing options. Of course, the downside is that it requires you to put out a significant amount of cash that you won’t have available for other expenses in the meantime.
If you can afford, purchasing solar panels in cash is a phenomenal way to go solar. You truly own your power and are insulated from the power market while your panels are producing energy. Homeowners who choose to go solar with a cash purchase are able to take advantage of all federal and regional tax credits and incentives and are able to truly say they own their power.
- Requires financial investment up front
- You are responsible for maintaining the panels
- Any available incentives, rebates or energy credits are yours to keep
- Reap the benefits of receiving credits from your utility for any excess power you produce
- Provides protection from increasing and fluctuating energy prices
- Immediate increase in the value of your home by adding solar
Is a Solar Cash Purchase Right For Me?
Cash purchase of solar is a great option for many homeowners, but they aren’t right for everyone. Unlike solar panel loans and other financing options, you’ll never have to pay for your solar power again after the initial purchase. Obviously, a cash purchase requires that you have enough savings to cover the full up-front cost and that you’re willing to use the money to purchase panels rather than for some other purpose. For this reason, many homeowners who are able to purchase panels with cash still explore the solar power loans, solar leases and power purchase agreements solar providers have to offer.
For this reason, many homeowners who are able to purchase panels with cash still decide to take out solar power loans, solar leases or PPAs.
- Solar cash purchases are appropriate for homeowners who have the financial capability to purchase panels with cash instead of using that cash for other purposes.
- Solar cash purchases are great for homeowners who truly want to pay once for a solar system and have full equipment and power ownership.
A Solar Cash Purchase Example – Potential Savings Over 20 Years
Solar Cash Purchase Advantages:
- Purchasing your panels with cash up-front allows homeowners to maximize their savings – no other financing method create as many savings over the lifetime of a set of solar panels.
- Homeowners who purchase their panels are able to take advantage of federal and state tax credits and rebates. Learn more about solar tax incentives and rebates.
- After your initial purchase, you don’t ever have to worry about paying for power produced by your panels again – a cash purchase is a true price lock-in for power in the future.
- Your home value immediately increases by the value of your panels.
Which Solar Providers Offer Cash Purchase Options?
Almost all solar providers offer cash purchase options. Cash purchases for solar are offered everywhere in the country, and all the providers we work with offer this option. To check for providers we recommend working with on cash purchases in your area, simply enter your zip code into the box at the top of the page, and we display providers who are able to provide competitive quotes so you can begin to get an idea of how much solar would save you.
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Purchase the panels outright
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Produce your own clean energy
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Receive the financial savings
Ready to See How Much You Can Save with Solar?
Interested in getting exact prices for the cost solar for your home? Get competitive solar quotes from qualified, trusted installers in your area. To see an estimate for how much you could expect to save and how much a solar system would cost, try our solar calculator.
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