...every member of the team at Green Sun Energy Services made the entire process of switching to solar a pleasure. From the beginning, Glen was comprehensive and detailed in his explanation of the product, responsive and informative about every question and concern, and professional and timely with the installation and all of the paperwork. I am still in shock. Since our installation I have not had to pay a single bill to JCPL. This is a wonderful investment and has been a wonderful experience. - Nina S. - in Little Silver, NJ | Solar Review On Angie's List
Solar Purchase Programs
The remainder of this section will cover the following topics
We offer solar financing options for every budget. Whether you want to maximize your financial returns or find an easy solar solution to save money and help the environment, there is a financing option that works for you.
For individuals interested in owning their solar panel system, there are three (3) choices:
- SolarBase Self Directed (home equity). Provides all of the pre and post-installation services, but you provide your own financing through a home equity loan.
- SolarBase Self Directed (cash). Provides all of the pre and post-installation services, but you pay by cash or check.
- SolarBase Complete (includes the Solar Loan of your choice). Solar loans are a great solar panel financing option if you want to buy your system. With over 100 solar energy loans available through Green Sun, you can finance the entire cost of your system. Some of these loans may be secured (using your equipment as collateral) or unsecured (tied directly to your personal credit). Loan terms range from 5, 10, 12, 15 and 20-years at fixed rates from 2.99% to 5.99% depending on your credit.
SolarBase™ Self Directed
SolarBase™ Self Directed, simply assumes that you will provide your own solar financing or personal funding of the solar panel system. In most cases, we can offer you a Same-As-Cash loan (described above) to cover your anticipated Federal Investment Tax Credit.
Our $99 down SolarBase™ Complete Program includes special solar financing (not tied to the equity in your home) in addition to all of the services listed above. Typical loans include a Term Loan and a Same-As-Cash (SAC) loan.
- The Term Loan is used to cover net price of the system --- the amount you are responsible for after accounting for the Federal Investment Tax Credit. Term loans are typically secured by your credit rating and in some cases Fixture Filing on the equipment. low interest Solar loan terms can range from 5, 10, 12, 15, or 20 year terms. Having this many options allows us to focus on helping you achieve your investment goals rather than just offering a single loan product.
- The Same-As-Cash loan is typically used to cover your anticipated Federal Investment Tax Credit. With no payment/no interest for the term of this loan, you should plan to you pay off this loan when you received your Tax Credit. Interest on the SAC loan is only waived by the bank if it's repaid within the term of the loan (typically coming due 6, 12, 15, or 18 months from your installation date).
Understanding The Solar Loan - How Does The Term & Same-As-Cash Loan Work Together?
As illustrated in the example below, the total cost of the system is $30,000. Of this, the anticipated tax credit of $9,000 is financed for a minimum of 12-months with no interest and no payments. A lump sum payment comes due the following tax season when the tax refund is received. Using the same bank, in this example, we finance the remaining $21,000 at the fixed payment of $166 a month.
We are Dealers and/or Agents of five financial institutions representing over different 100 loan programs with fixed interest rates as low as 2.99% on 5, 10, and 15 years loans; and 4.99% on 20 year solar loans. Eligibility for each solar loan program is subject to credit approval by the individual bank. Solar loan terms are subject to change without notice. Refer to the bank's loan agreement for a complete disclosure.
Evaluating Solar Financing Options
Determining the best financing program for you and your family is a critical component in the formula to go solar. Once you've selected your equipment and made the smart decision to purchase (not lease) your solar panel system, it's time to discuss price and financing... and, more importantly the true cost of solar ownership.
So, here is the deal with financing solar. First you should select a loan term that meets your financial objectives of short-term savings (longer loan term) or long-term profit (shorter loan term).
I want to save as much as possible right now!
As outlined in the example below, the 20-year loan has the lowest monthly payment at just $154.48 per month, so it provides really nice short-term savings. However, when you multiply $154.48 per month by 240 months you wind up spending $37,075.2 (or $3.92 per fully financed DC watt) in total principal & interest over the terms of the loan.
I want the lowest Purchase Price!
Okay, we don't blame you. The lowest purchase price in the table below appears to be $30,838.06. This comes with a 10-year solar loan at 6.99%... not a bad deal. Now, let's add up the 120 loan payments at $249.38 per month to get a total cost of principal and interest of $29,925.6. GREAT, that's a LOT lower than the $37,075.2 (or $3.17 per fully financed DC watt) for the 20-year financing option.
I want the lowest cost of ownership!
Smart, although the price sticker of the 10-year, 2.99% loan option seems the highest at $34,673.17. But, the lower interest rate produces the lowest monthly cost for a 10-year loan at just $233.30 per month. Now, when we multiply 120 months of loan payments by $233.30 our total cost of principal & interest is just $27,996 (or $2.96 per fully financed DC watt). So, this is the best deal!
If you are focused on short terms savings, a longer loan terms is best for you. If you are focused on long term savings, a short term loan is best for you --- BUT, make sure you focus on the the fully financed cost per DC watt as illustrated in the table below.
Flip you phone to horizontal to see all 5 columns of this table
"We had Green Sun Energy Services install our Solar System 3 years ago and it has worked out very well for my family. Everything has worked as expected: in terms of our Utility Bill being much lower and the SREC program working so well that it has been a truly outstanding benefit..." - Desmond S. | Solar Review On Angie's List
"Everything they said was true and accurate. I generated almost a 1000 kWh more than my estimate in the 1st year. The entire year cost me 26 dollars for electric. With the SRECs and the electric savings I should recoup my investment in 4 years." - Jack F. | Solar Review On Angie's List
Our Solar Equipment & Warranty Packages
All of our solar panels systems are aesthetically designed, engineered, and installed with the Tier-1 products outlined above. But, our SolarBase™ program is more than just a solar installation, it's a long-term energy management program designed to maximize your energy production and financial returns. To this end, all of our SolarBase™ Programs include 10-years of the following post-installation services:
- Remote Solar System Monitoring
- Maintenance & Support
- Annual Inspection and Solar Panel Cleaning
- SREC Management, Aggregation and Sale
- Money Back Solar Energy Production Guarantee
To help simplify all of the equipment and warranty choices, we've put together three PV Solar Packages for our clients to choose from.
The SolarBase™ Premium Package
Our high-end SolarBase program features panels from Jinko, LG, Panasonic, Solaria, and Trina; SolarEdge Inverters (upgraded to a 25 year warranty) with Power Optimizers; Quick Rack rail-free mounting system, and critter guard. This package also includes an industry leading 25 year installation workmanship warranty.
The SolarBase™ Value Package
For our more value minded client's, we created our Value Line. Here we utilize panels from Hanwha, Jinko, LG, Panasonic, Solaria, and Trina; SolarEdge Inverters (upgraded to a 25 year warranty) with Power Optimizers; and the EcoX rail-free mounting system. This package also includes a 15 year installation workmanship warranty.
The SolarBase™ Economy Package
For our more budget minded client's, we created our Economy Line. Here we utilize panels from Hanwha, Jinko, LG, Panasonic, Solaria, and Trina; SolarEdge Inverters (standard 12 year warranty) with Power Optimizers; and the EcoX rail-free mounting system. This package also includes a 10 year installation workmanship warranty.
Solar Package Comparison
Solar Panel Comparison
Government Program Administration
The combination of federal, local and utility based programs can provide over 100% of the money required to purchase and install your solar energy solution!
But, these programs are extremely difficult to apply for and in many cases require ongoing administration. Our team is well versed in each of these programs and will ensure that you receive the maximum available benefit. We will coordinate, manage and administer these programs for the term of our contract.
Financial Coordination and SREC Management
Our financing professionals and lending partners will work with you to find the best possible financing solution for you. We offer over 100 different financing packages with loan terms from 12 months to as long as 20 years.
Once your system is provisioned, we will set-up a brokerage account for you and then manage and sell your SRECs. The proceeds, less our brokerage/administrative fees, will be sent to you in accordance with the SolarBase™ Program that you select
Design and Engineering
All of our SolarBase™ systems are custom designed to minimize your up-front investment and maximize your long-term energy production.
Our Solar Engineers will conduct a complete solar evaluation of your property to determine the best possible location for your solar array and provide you with a detailed design of the proposed system. We will configure your system with market leading solar panels, micro-inverters, and racking systems, to ensure the most cost-effective installation that yields the highest possible energy output and return on investment.
Solar Installation, Testing, and Provisioning
We will install and test your system to ensure the highest level of efficiency and client satisfaction. All of our solar installations are designed and supervised by NABCEP (National Board of Certified Energy Practitioners) trained professionals.
Solar Energy Optimization and Monitoring
Optimizing your long-term energy production is the cornerstone of the SolarBase™ Program. The more energy that you generate, the more money you save and the more SRECs you can earn! Once your system has been installed, you can rest assured knowing that our team will:
- Monitor your system to ensure maximum energy production.
- Remotely diagnose any problems and dispatch a service technician if required.
- Perform annual equipment inspection and panel cleanings.
- Manage, Aggregation and Sell your SRECs
- Guarantee the output of your system for 10 years!