Eagle Point Solar has become the largest solar installer in the region by not only designing and installing quality solar systems but by also assisting our clients with effective financing options. Our Residential Solar Program option often provides a monthly payment lower than your electric bill and allows you the option to pocket any available tax credits.
If you have the resources to simply pay for your solar energy system you own it and will reap all the benefits of producing your own energy from day one. Paying cash is likely to be the method which provides the best economic rate of return for you.
Residential Solar Program (Residential Only):
Eagle Point Solar has partnered with Sunlight Financial and Community 1st Credit Union’s ezSolarLoan program to offer solar loans specifically for homeowners. For qualified applicants, the loan often results in a lower monthly payment than your current electric bill, meaning you’ll save money from day one.
- Single-Family Homes, Townhouses & Rowhomes, Duplexes & Triplexes, Vacation & Second Homes, Ground Mounts
- A simple and quick credit approval process.
- No out-of-pocket costs or fees – up to 100% financing.
- Easy loan application with 5 to 21-year terms.
- Minimal documentation required.
- Fixed, Low-interest rate with deferred payment options up to 18 months.
- With an expected lifespan of 40+ years, your solar energy system will last much longer than the term of your loan, so you can reap the benefits of free electricity for decades to come.
In certain counties in Illinois and Wisconsin, Property Assessed Clean Energy (PACE) loans are available. These programs are a public-private partnership between local governing bodies and participating banks. In many cases these loans yield low, affordable payments spread out over 15-25 years. Learn more about PACE Loans.
Using a Home Equity Line of Credit (HELOC) is another way to finance a solar energy system and often provides a lower interest rate than conventional financing. (*Consult with your financial institution on lending specifications and tax advisor on HELOC tax advantages.)
Power Purchase Agreement (PPA):
The Power Purchase Agreement (PPA) concept is a simple, yet extremely effective financing tool for any organization not able to take advantage of the renewable energy tax incentives offered by state and federal governments. It also means, in most cases, organizations are able to install solar equipment and begin utilizing clean, renewable energy created from the sun with little or no up-front investment. Learn more >
Commercial Operating Leases:
- In certain areas, Eagle Point Solar offers solar operating leases for commercial, industrial and other tax paying entities. A solar operating lease allows you to enjoy low-cost energy without a significant investment of capital and you have the option to buy the system at the end of the term.
- Eagle Point Solar purchases and installs the system so you have no upfront costs.
- You lease and maintain the system, paying a fixed monthly payment over an approximately 7-yr term.
- At the end of the term, you have the option to purchase the system.
- Avoid increased energy costs from utilities and maintain stability in your energy costs for years to come.