Why Go Solar
Solar Purchase - Cash and Loan
GPS has multiple financing options available to help meet your needs. The best solar financing option for you depends on your preference as a homeowner and considerations such as how long you plan to stay in your home. You can change your financial payment options up until installation begins. Language contained in the contract, such as conditions, warranties and guarantees, cannot be altered.
Purchasing Solar with Cash
With this option, you will own your system and pay the full system cost upfront. Purchasing solar panels by cash with GPS is fast and easy without complicated paperwork, and gives you total control over your solar energy system.
Purchasing Solar with a Loan
A loan enables you to acquire and own your solar energy system without upfront costs. It can be one of the most affordable ways for you to get clean energy and still own your system.
When you place an order, you can see your specific solar loan payment based on your selected system size and location. Often, your loan payment is lower than your monthly energy bill. This means you will have immediate savings after installing your system—you’ll be spending less every month.
After the term of your loan, the energy from your system will continue to reduce your electricity bill resulting in long-term value.
A solar panel system is a great investment for your home—a home with solar panels sells faster and for more money. If you choose to sell your home, our solar loans have no prepayment penalty, allowing you to pay off the loan with the sale of the house and transfer the paid off system to the new homeowner.
For loans, you will be invoiced about 30 days after installation. If you have any questions about solar loan payments, contact your solar loan provider directly. The monthly payments of your solar loan assume a pre-payment within the first 18 months of owning your system equal to the Federal Tax Credit of the system. You can apply your tax credit to your loan to maintain your monthly loan payment amounts.
Federal Tax Credit
With both cash and solar loan options, you are eligible to collect the Federal Tax Credit and other local incentives. To qualify in a particular year, your system must be installed by December 31st of that year.
To collect the solar tax credit, we recommend consulting a tax professional to determine what is best for your situation. You will likely need a copy of your GPS contract. Your tax professional can then advise you on the appropriate tax form to claim your Federal Tax Credit. If you need more information on the Tax Credit or would like the forms with directions please contact your Energy Consultant to get our Federal Tax Credit Guide.