Yes, you heard it right! You can get a solar power system installed on your roof in New Jersey and start enjoying the cost savings right away without making an upfront financial investment. In fact, you don’t even have to pay any down payment on it. Sounds too good to be true? Well, not anymore!
This is how you can get $0 Down Solar in Edison, NJ.
Sign Up for a Solar Lease
Solar leases are one of the most common ways to finance rooftop solar for several reasons. Firstly, the homeowner does not own the system, so they do not maintain it either. All responsibility lies with the leasing company, and you make monthly payments on your lease, usually for 20 to 25 years.
The monthly payments in solar leases are usually fixed for long periods. So, you have complete clarity on your expenses, which will be much less than your monthly utility power bills.
Enter Into a Solar PPA
A solar power purchase agreement is an innovative solution that works like a solar lease in many ways, but with crucial differences. Firstly your monthly payment is based on the amount of power produced from your solar system. However, the rate used to calculate your monthly power bill is much less than what your utility company charges you. Imagine paying your utility bill today based on rates in 1997, 25 years ago! That is the real benefit solar lease and PPAs offer to homeowners in NJ.
Also, PPA agreements come with production guarantees. The financing agency must ensure that your solar solution produces the amount of power it promised you. If it doesn’t, then it’s their responsibility to add more panels or find other ways to improve its efficiency.
Get a $0 Down Solar Loan
Some NJ solar companies, including Green Power Energy, offer solar loans with $0 down payments. However, your credit score must be higher than 600 to qualify for such loans. If it does, then you can get a $0 down the solar loan at incredibly attractive interest rates.
Your monthly payments start only after 18 months, and the solar loan starts accruing interest only after these initial 18 months. It simply cannot get any better than this. Call us today to know more.
