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Solar Home

Financing Solar

Solar is a big home improvement investment and many people finance it with a loan or lease. Here we take you through the options.

Finance options for everyone

Baker Electric Home Energy offers various financing options which take into account your needs and goals for getting solar panels. These include a variety of residential solar choices like cash purchase, loan, or lease. We’ll help you decide which fits your lifestyle best.

Why would you consider a Cash Purchase?

Considering a cash purchase 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 in five years or less, 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 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
  • Return on investment in as little as five years

Why would you consider a Solar Loan?

Considering a solar loan is the same as a cash purchase and offers the lowest cost per kilowatt hour and is potentially tax deductible.

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 like Dividend Solar or Wheelhouse Credit Union, we’ll help you every step of the way in obtaining the solar loan option 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
  • 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.

Why would you consider a Lease/Power Purchase Agreement (PPA)

Considering a Lease/PPA means zero upfront costs.

Leasing is an attractive way to go solar because it requires no money up front. With a leasing option, you don’t own your solar system, and simply make a monthly payment to the Lease Provider.

Choosing to lease your solar installation is best thought of as paying for the electricity generated by the solar rather than the installation itself. Our lease option offers total product and production guarantees for the entire 25-year lease agreement. Much like a loan, you will have a lower-cost, fixed payment for your solar each month rather than an electric bill from your utility company, and it requires no money down. Our lease payment plan does not include any escalation factors — the amount you pay each month stays the same for the entire 25-year lease. The lease is transferable in the event you decide to move.

When you lease your solar, you see immediate savings with $0 up-front costs and monthly payments typically 25%-35% less than your current average electric bill (assuming 100% energy offset). While there are no upfront costs, you must have a 650+ FICO® Score.

Benefits of leasing your solar include:

  • $0 down
  • Fixed (vs escalating) monthly payment — immediate savings
  • Customers still benefit from ITC through lowered monthly payments
  • If the home sells, the lease can transfer with homeownership (based on simple credit requirement)
  • System removed or lease extended after the life of the lease
  • Includes 25-year Full System Warranty
  • Includes Solar Production Guarantee and 3rd Party Monitoring

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Elfried Somberg
Elfried Somberg
Had a mostly smooth experience with Baker. I felt listened to about what we wanted and needed, and results were delivered in a timely manner. Scheduling was important to us due to an upcoming long stay at our home by my elderly mother. Baker made it all happen before her arrival, which we all appreciate a lot. We did a new roof at the same time and it turned out the previous roofing job (we just bought the place) had been shoddy. We can literally hear the improvement or rather the lack of things to hear😊 The panels are up and running and will give us the freedom to replace gas driven appliances with electric ones. Very happy about that. Read more
Shahnaz Parvizian
Shahnaz Parvizian
We were very happy with Baker. They came right away to give us estimate and answered all of our questions clearly and responded to our phone calls and emails right away. They got the permit and started the roofing and installation sooner than we were expecting. The installers were very good and did a great job. We even decided to use them to fully renew our roofing. The only problem we had was waiting for a month for solar system to be energized by SDG&E. I am recommending Baker to all of our friends who do not have solar system. Thanks to you everyone in Baker. Read more
Rodel C.
Rodel C.
Scott O'Hara and his team at Baker Electric Home Energy have been an amazing group of individuals to work with. Not only were they responsive, they are… Read more
Mary S.
Mary S.
We have had Baker install solar, Tesla batteries, and a complete HVAC system with new insulation. Eric came to fine-tune our most recent HVAC purchase today… Read more
Dana M.
Dana M.
The reason for the repair was that our heating/air conditioner would not turn on after replacing thermostat batteries and checking circuit beakers. I made… Read more
Connie B.
Connie B.
I am so grateful and happy that I picked Baker from 4 bids for my solar installation. The other 3 companies did not recognize that my roof tiles would… Read more
Analiese H.
Analiese H.
Great company, great people, every step of the way. I was referred to Baker through a friend, and was not disappointed. Particularly impressed with my… Read more
Kimberly Herm
Kimberly Herm
Update: I was finally able to get a hold of Baker and get someone scheduled to come back out. Though the insulation having been installed in the attic prior to resolving the issue with the fan made it harder for the technician to assess what was wrong, he was still able to do so and I'm happy to report that with the recent rain, the leaking has not continued. I have used Baker Electric for a lot of work at my house and have had generally good experiences with them. However, after having them perform PM on my HVAC system multiple times, new technicians continue to come out and identify fairly significant issues, such as improperly sealed ducts, that have been over looked every other time they'd been out before. Most recently, Eric did my PM and he did a great job of listening to my concerns about poor indoor air quality and therefore did a thorough inspection to figure out what might be causing these problems and take steps to resolve them. While he did a great job and went above and beyond, it did make me wonder how multiple issues he identified were missed in the past. Additionally, I recently went through Baker to have insulation installed in my attic (a recommendation from my recent PM service). When booking the appointment I expressed concern that one of my bathroom fans was leaking and I wanted it checked out (Baker previously did a replacement of my attic fan, so I know this is something that they have experience with). Baker told me that they would send someone out to take a look at the fan. The only people who came out were the 3rd party contractor who did the insulation install and they said they saw no problems around the fan in the attic but didn't actually look/observe at the fan any further as it was out of their purview. I have called Baker multiple times to follow up regarding having someone look at my fan, as that was one of the things I stressed that I wanted checked out if I was going to move forward with the insulation install and was promised to me that they would. But since they got my money for the project, they haven't returned my calls. Overall, I continue to use Baker as they are better than number of other contractors I have used in the past for various work around my house, and I prefer to use someone I have worked with before who has been generally reliable than find someone new, which is why I'd hoped they be willing to help with my fan issue, but have been unreliable in this situation. Read more
J M
J M
Baker Electric installed solar panels and a battery for our home last summer. The company also installed a new roof for us, in the area where the solar panels were installed. We were extremely pleased with our Baker Electric experience and, in particular, by the quality and knowledge that the Baker Electric team brought to the project. The company does such a professional job "project managing" the whole process – Carmen, our Project Coordinator, was always there to ensure we understood the status of the project and to answer our questions. And our post-installation questions were also addressed to our satisfaction. The team who installed our new roof was just exceptional – Pedro and Nick were the Team Leads for the roofing team, and we found them to be professional and focused on not only doing a great job on the roof work but also, ensuring that our questions were answered and requests were addressed during the entire roofing process. Our Baker Electric-installed solar energy system has been in place for about 8 months now, and we are very glad that we chose Baker Electric for this project. Read more
Lance Pelky
Lance Pelky
The team at Baker has been fabulous! My original solar installation company unexpectedly closed its doors and I needed assistance with a battery issue. I contacted Baker. I worked with both David Fountain and Eddie Castro. These professionals communicate, know what they are doing – and get the job done. Great job guys. They didn’t pay me to say this. I thought I’d post this as I too rely on honest reviews. I just tell it as it is. I would include Baker in your discussions around residential solar and battery. Read more
Chad McDonald
Chad McDonald
Eric Young did a great job! Came out for a tuneup and walked me through everything. Cleaned the dirt and dust buildup in the furnace. Fixed our AC quickly. Eric was very knowledgeable and gave good advice on things to look out for. Appreciate his attention to detail and friendly personality. Would recommend Eric if needed a tech to look at your unit. Read more
Erika Shuh
Erika Shuh
Eric was prompt, efficient, and very courteous. I really appreciate that he was knowledgeable and that he respectfully answered my numerous questions. His patience explaining anything technical and updating me about the install process confirmed my reasons for choosing Baker— good products, clear straightforward explanations, highly skilled and experienced employees who provide great customer service. Top flight! Happy customer! Read more
Based on 404 reviews
Based on 427 reviews

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