This is exactly what it sounds like – you purchase your panels with a full payment when you have your panels installed. While this used to be the only way to go solar, it has become the least popular way to go solar – not that there is anything wrong with a cash purchase. On the contrary, it actually allows homeowners to capture more savings than any other financing method – of course, the downside is that you have to pay cash for those panels that you don’t have available in the meantime for other expenses.
Solar cash purchases, if you can afford them, are 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.
Solar cash purchases are a great option for many, but not all homeowners. Obviously, a cash purchase requires that you have enough in savings to pay for the panels up front, and that you are willing to use that money to purchase panels instead of utilize the money for some other purpose. For this reason, many homeowners who are able to purchase panels with cash still decide to take out a solar loan or solar lease or PPA.
Solar Cash Purchase Advantages:
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.
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.