Solar Financing 2018-06-09T21:19:21+00:00

After the design process is complete, it’s time to decide how you want to invest in solar.

Solar buyers can choose a variety of ways to invest in solar, some of which include:

Traditional Self-Financing:

  • Cash Purchase

  • Solar Loan

  • Home Equity Loan (HEL)

  • Home Equity Line of Credit (HELOC)

  • Cash-out Mortgage Refinancing (COMR)

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  • We partner with financial companies that help you make it easy for customers to go solar and save money.

  • Self-financing is widely available from a number of banks and credit unions across the country, allowing homeowners to borrow against their accrued equity.

  • Good Faith Energy is strategically partnered with Dividend Solar and Sungage Financial  to provide our clients with solar loans.

  • Rates vary from 1.99% to 6.99%, with loan terms extending up to 20 years.

  • If you qualify for a loan, your interest rate will depend on a variety of factors, most notably your credit score and debt-to-income ratio.

  • We’re here to work with you to help you to help you save money or access financial incentives and favorable tax-credits.

3rd Party Ownership:

  • Power Purchase Agreement (PPA)

  • Solar Lease

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  • With a PPA, a solar finance company designs, purchases, installs, and typically maintains the system that is hosted on the homeowner’s property.

  • The homeowner is required to buy 100% of the energy produced at a cost set out by the solar finance company. Typically, the rate at which you purchase the electricity for escalates over time (e.g. 2% per year).

  • Solar leases are modeled very similar to the third-party PPA. The primary difference between the lease and PPA lies in how the payment is structured.

  • Under a PPA, the homeowner is buying electricity from the solar finance company, and payments are made for all of the electricity produced.

  • With a lease, the homeowner is making monthly lease payments and there is no sale of electricity.

  • In both cases, the system would be owned by the solar finance company.

  • In the event of a move, the homeowner would have to transfer the contract to the homebuyer if the buyer meets the credit requirements of the third-party solar finance company, or a buy-out by paying for the energy for the remaining term of the contract.

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Good Faith Energy is committed to helping Texas home & business owners across the state of Texas install affordable solar PV systems with maximum production and savings!

Ready to get started?

We can help you go solar

(469) 209-5910

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