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.
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 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.
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.