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Financing Solar and Home Battery

A new Home Energy System including solar panels and a smart home battery is a big home improvement investment. Many people finance it with a loan and many pay cash. Here we take you through the options.
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Finance options for everyone

Baker Home Energy offers various low cost financing options, partners and plans to help you save money when you decide it’s time for energy independence and low electric bills.  We’ll help you decide whether purchasing for cash or financing fits your lifestyle best.

Whether you choose to pay upfront, mix cash and financing, enter the Baker Home Energy Program, or get a solar loan from our financing partners, Baker will get you energized.

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Solar & Home Battery Financing Options: Cash vs. Loans

A cash purchase typically offers the lowest cost per kilowatt hour and is potentially tax deductible.

With a cash purchase, you buy and own the system, along with all the energy it produces. A cash purchase requires the highest upfront cost, but will generally pay for itself more quickly than other options, and provides you with the lowest cost per kilowatt hour. When you purchase your solar system outright, it also allows you to utilize the Investment Tax Credit.

Benefits of purchasing your solar system using cash include:

  • You own the solar system
  • Contract value is paid directly to the solar provider
  • Investment Tax Credit (ITC) is claimed by you
  • Studies show purchased solar can increase home value
  • Quicker Return on investment
  • Provides the lowest monthly costs

Want to go solar and reduce your electric bills without making a big upfront investment?
Many consumers find that financing their solar system makes the best sense because it offers many of the same benefits of a cash purchase, but without the upfront costs.

It’s a great option if you want to own your solar system but don’t have the immediate funds for a cash purchase. Instead of high-cost electric bills from utility companies each month, you’ll have a lower-cost loan payment. Whether you use your own bank or one of our loan partners, we’ll help you every step of the way in obtaining the solar loan that works best for you.

Loan options include:

  • Self-Financing e.g. HELOC
  • Solar Loans through Baker’s preferred financing Partners

Benefits of using a loan for your solar include:

  • You own the solar system
  • Investment Tax Credit (ITC) is claimed by you
  • No heavy upfront out-of-pocket expenses
  • No prepayment penalty on Solar Loans
  • Some loans are transferrable in the event you decide to move.

Want to go solar and reduce your electric bills without making any big upfront investments?
Similar to a lease, a homeowner will pay a monthly fee, but the payment is determined by the anticipated amount of energy generated over the life of the system. Let Baker maintain the solar panels and batteries, while you enjoy the benefits of solar power without worrying about performance variations.

Benefits of joining the Home Energy Program for your energy needs include:

  • 0 upfront costs for installation
  • Predictable monthly payments
  • Maintenance & worry free