Sun Valley Solar Solutions is launching a new loan program for homeowners who would like to install solar photovoltaic (PV) systems in Arizona. The program is in partnership with aleo solar, part of the Bosch Group. According to Sun Valley Solar, PV systems can generate up to 100% of a home’s yearly kilowatt hour electricity usage from solar panels, usually installed on rooftops and tied into the grid. With more than 300 days a year of sunshine in southern Arizona, solar power is a good renewable energy choice.
Homeowners who don’t have ample cash on hand have found it difficult to finance solar PV systems. However, solar leasing, with terms between 20-25 years have provided an affordable way for homeowners to go solar. In 2012, 81 percent of solar systems installed in Arizona were leased. During 2012, Sun Vally solar says, solar lease prices for quality panel brands slowly crept up, while “prepaid” leases (paying one lump sum after installation) have been completely eliminated or virtually priced out of financial viability. An alternative option to a lease for some may the 30 percent federal tax credit (which can be spread out over five years).
Sun Valley Solar Solutions is finding that homeowners can pay as little as $90 a month for a 5kW system. The price depends on the system size needed, the amount of sunlight the panels get (south facing is best), what utility company area a home is in, and how much if any of the loan is taken as same-as-cash.