Solar Plans & Services For Every Family And Any Budget
By Adam Smith
Just like airline seats, there's no such thing as "one size fits all" when it comes to solar energy. Every household has different goals, budgets and electricity needs. We're gonna give you a quick breakdown of each of the different solar plans and services that are available.
What are the different solar programs?
1. Power Purchase Agreement
Are you interested in reaping the benefits of renewable energy, but don’t feel that owning the solar panels or system is right for you? Then a power purchase agreement (PPA) could be a good option for you.
A PPA is an affordable and easy way to enjoy solar power without an upfront investment. With PPAs, you don't pay any upfront costs for your panels and can potentially save on your utility rate. Additionally, the company you choose will take care of installation, maintenance, and warranty. This means that all the pressure is off of you, but you get to enjoy the confidence and clear conscience that comes with renewable energy.
With a monthly PPA plan, you pay a fixed or level monthly amount based on your estimated solar energy production. Your chosen company will take care of solar energy system design, permitting, and paperwork, and provide a 20-year solar power warranty. You enjoy clean energy year-round.
3. Cash Purchase
With a solar cash purchase, the solar company you choose will sell you a solar energy system for a set amount upfront. This means that, in purchasing the system outright, you’ll have full ownership of all the equipment and the power the system produces. This is beneficial for you because it means you’re buying the complete system, which may be cheaper than leasing it at a set market rate or buying power at a rate based on an escalator value. It also means you may be eligible for any tax credits that may come to you because you own and operate your own solar energy system.
With a cash plan, the power you produce is all yours. You won’t receive any monthly energy bills—just a smaller monthly bill from your current electricity provider.
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2. Financed Purchase
With financing a solar system, you purchase a solar energy system from a chosen solar installer through a third-party finance partner, and your loan provider is responsible for your billing for the solar energy system. Because of this, you’ll get two bills: one from your utility company for the energy you consume, and one from your loan provider for the payments for the solar energy system.
Because you purchase the solar energy system, you have the benefit of owning the system outright and any power it may produce. This may be beneficial for you because it means you’re making payments towards a complete system, which may be cheaper than leasing it at a set market rate or buying the power at a variable market rate.
This also means that you may be eligible for any tax credits that may come to you because you own and operate your own solar energy system.
How much will solar panels cost me?
There are many factors to consider when figuring out how much solar would cost your home specifically because every home is unique and has different electricity needs.
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January 24, 2025
See Your Solar Savings
The average Illinois homeowner saves over $1,200/year with solar.
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