- Cost: A five-kilowatt system for a single-family home with a utility bill of $300 per month in Guam would cost a customer an estimated $12,250 after the tax credit with a payback period of 3.4 years. Thereafter, the customer will receive $300/m of free power.
- Purchase directly: Maximizing the value of the returns of your hard work is important. Why earn a one percent return from a traditional savings account when you realize a significantly higher yield by investing in solar? The average return on investment on a solar system is between eight and 10 percent-greater than a savings account and more stable than the stock market.
- Finance through your banking institutions: Banks and credit unions offer a wide range of financing options for their customers, and many even have special green lending programs that are ideal for financing home solar installations.
- Power Purchase Agreements: Under a “PPA,” a third party owns and maintains the customer solar system, selling the kilowatt-hours at a fix rate back to the customer. This provides customers low capital costs but pay for a term that may last 20 years as well as not benefitting from the tax credit.
JOSE S. SERVINO, P.E., CEM, CDSM
President/ CEO
Certified Energy Manager, Certified Demand Side Manager and Professional Engineer
Advanced Engineering Consulting Company
Source: http://www.mvariety.com/cnmi/cnmi-news/letters-to-the-editor/68002-financing-options-for-your-home-solar-system
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