Our best customers are our most educated. Before making a solar investment, we recommend learning about incentives, warranties, and financing options.
At SunBug Solar, we encourage our customers to own their solar system because direct purchase offers the best return on investment. Typical IRRs (internal rate of return) are in the 15-30% range, with paybacks of 3-6 years and 30 year lifecycle savings of tens of thousands of dollars.
We know solar systems are expensive and not everyone has the capital. Another excellent option is to finance your system through one of our Solar Loan partners. With a solar loan, the objective is to make your monthly loan payment less than your solar savings plus SREC revenue, enabling you to be cash-flow positive for the life of the loan.
Some solar providers offer a Residential Solar Lease or PPA (Power Purchase Agreement), which enables customers to go solar without an upfront expense. These agreements are typically 20 year contracts, during which time the solar provider claims all of the financial incentives while the customer pays slightly less per kilowatt hour for electricity. For some consumers with no tax burden or a very poor solar site this model can be beneficial. However, for the vast majority of Massachusetts homeowners, ownership of your solar system is preferred, as the savings and revenue generated by owning your system typically pays for the entire investment in well under 10 years. An influential Massachusetts Department of Energy Resources study from 2013 shows that in the Lease or PPA model, the leasing corporation gets the disproportional benefit of about 9 dollars of revenue to every 1 dollar of savings experienced by the homeowner.
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