Incentives Albuquerque Solar Companies Offer Homeowners
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Some Albuquerque homeowners choose to stay attached to the local grid and rely on fossil fuels, which may have cheaper short-term costs. Others invest in renewable energy like solar panels, which provide long-term savings and reduce pollution. Choosing the right Albuquerque solar installer and solar equipment provides the best bang for your buck.
Quality Solar Products Save New Mexico Customers Money
Investing in quality solar products now will save more later. Your home’s energy system follows the same concept. An efficient energy system will save more over its lifetime than relying on the grid.
First, however, make sure that your New Mexico home uses enough energy. 500 kWh each month, annualized to 6,000 kWh, is the requisite amount of energy needed for solar to be worth it. The 6,000 kWh figure is the most reliable way to size a solar array for your Albuquerque home since the usage will vary from month to month and according to the seasons. Not every home uses enough electricity to make solar cost-effective. If a solar purchase will benefit you, it’s time to find a solar company that meets your needs.
Solar Payment Program Options
While most solar companies offer a payment program, these programs vary from company to company. Homeowners have several finance options for their solar purchase. These options often include cash, a loan, or a solar lease or power purchase agreement (PPA).
Purchasing Solar with a Loan vs. Leasing Solar
Not everyone has enough cash to make a solar purchase. However, they still want the savings a New Mexico solar array provides. There are two main ways to do this: securing a loan to purchase solar panels or leasing the system.
Things to Consider Before Entering a Solar Lease
When leasing solar panels for your Albuquerque home, one thing immediately stands out—those with leased solar modules have little control. Homeowners who enter a solar lease don’t have much say in the solar array placement. Leases also have fixed payments throughout, so the customer always has a bill. It’s just less than they would have paid the utility. Furthermore, it’s often difficult to sell a home with leased solar panels. Leased solar modules don’t add value to Albuquerque homes, and potential buyers often don’t want to purchase homes with solar contracts. Though exceptions apply, leased solar panels aren’t in the best interest of most Albuquerque homeowners.
Benefits of Using a Solar Loan
Purchasing solar with a loan provides several benefits over leasing. Firstly, a zero-down loan allows homeowners to buy solar without up-front investment. Additionally, customers can get a fixed-rate loan similar to their current electricity bill for as little as 12 years, providing free power for 13-plus years afterward. Finally, purchasing solar panels instead of leasing them sometimes increases a home’s value.
Benefits Offered by Albuquerque Solar Installers
Albuquerque has several benefits and incentives for solar purchases. These range from sales tax exemptions to solar metering to incentives through PNM. However, two solar company benefits stand out for Go Solar Group: paying solar forward and referral programs.
Paying Solar Forward
We can help others in many ways. However, providing opportunities for others to help themselves and contribute to their community has longer-lasting dividends than a single service project. Many solar companies give to their local and international communities. Go Solar Group’s humanitarian program, however, has a unique twist. With each solar array we install, our Give Solar program lets us microfinance the equivalent of your Albuquerque home’s installation for a Ugandan family in need of clean power. These contributions fund revolving microloans in Uganda, which help pay solar forward to people in these communities and provide local education and empowerment. Allowing these individuals to provide for their needs and help others in their community better themselves.
Go Solar Group Referral Programs
Another solar company perk includes referral programs. Referrals can reduce solar costs in New Mexico and further spread the use of clean energy in the major metropoles of the state, such as Albuquerque and Santa Fe.
At Go Solar Group, we have The Sun Share Referral Club. Through this club, you can receive $500 for every referral who installs solar. You could potentially pay your entire loan through referrals by informing us of the friends and family you believe may be interested in installing solar with us, as long as they are eligible for installation and complete installation with us.