Financing Options for Solar in New Jersey

You’ve learned about solar energy and how it works. You see that solar energy makes sense for your home and in addition to the cost savings, switching to solar energy is a great way to help save the environment. Now the question is … how do you pay for it? The key is being a homeowner. Valuable State and Federal incentives available to you as a homeowner are used to reduce the cost of a new solar system to make it affordable. Regardless of your choice to lease or own the system, the incentives still work to help you save money by reducing or eliminating the electricity costs for your home.

Whether you’re looking to maximize your financial returns through an investment in solar, or just looking for a quick and easy way to save money, Ad Energy’s trained, professional experts can explain the options and programs suitable for your specific wants and needs.

Purchase Solar With Cash
Cash Purchase

For individuals that have access to capital – money sitting in their savings account or in underperforming investments – investing in solar energy for their home is a great option. Investments in solar systems typically return the original investment (called the payback period) in 5 to 8 years, depending on the specifics of your situation. Once the system pays for itself – all of the future saving and income is yours to keep! That’s better than stock market returns, at lower than stock market risk.

  • Claim local & federal tax incentives
  • A Home Equity Loan can also be used & may be tax-deductible
  • Your system will pay for itself with savings on your utility bills
  • Increase your property value
You may qualify for a loan term of up to 25 years
Solar Loan

Many want to use the bank’s money to fund their investment – with the objective of being cash-flow positive from the very first year of operation. In order to achieve this, we offer several solar loan packages with repayment lasting up to 20 years. Just like a cash purchase, once you’ve paid off the loan, the future saving and income is yours to keep!

You own your solar system and pay for it with a loan. You can pay off your loan at any time without penalty.

  • No upfront costs
  • Claim local & state tax incentives
  • Loan term up to 20 years
  • Credit Score 640+
  • 25-year product warranty
  • Low payments & immediate savings
SunPower Capital owns the system on your roof but you still get the benefits of the electricity savings.
Solar Lease

Solar leasing programs focus on saving homeowners money right away, and provide the easiest transition from buying utility power to buying solar power. The leasing company pays for the installation of your solar system, and you agree to make lease payments for 20 to 25 years. The leasing company benefits from any incentives available for installing solar, which allows it to structure monthly payments that save you money from the start.

With this option, SunPower Capital owns the system on your roof but you still get the benefits of the electricity savings.

  • No out-of-pocket costs
  • 20+ years financing term
  • Credit Score requirement 600+
  • You pay a monthly amount to “rent” your system
  • 25-year system guarantee – if it breaks, we’ll fix it
  • When you sell your home, you can assign the lease to the new homeowner