You might be thinking — this all sounds great and solar seems like a good idea, but what’s it going to cost me? We like to think of solar power as an investment like any other — determine the upfront costs, calculate the benefits, and figure out how long it takes to see a return on your investment. Turns out that solar is a great bet.
Your solar investment provides a better return than most savings accounts or CDs, typically returning 5-6% through utility savings.
Depending on your financial health and the financing you are eligible for, you may only pay a small amount more per month, or you could even be cash positive immediately, meaning that your monthly energy payment (utility bill + solar loan payment) is less than your current payment.
The value of your system will increase as electricity rates rise, because the upfront cost of the system will never go up.
Let’s take a look at the examples for the smallest sized system (3 KW) and an average sized system (5 KW). Keep in mind, the size of the system you choose will depend on many factors — including your roof space, orientation, and how much electricity your family uses.
To get a preliminary quote, all you need to do is fill out our Contact Form, and we’ll be in touch to schedule a visit.
Solar Financing with…
Not only does Solarize Blacksburg provide a discount on the total cost of your solar PV system, we have also arranged for special solar financing through Admirals Bank. The loan program is specifically geared towards renewable energy installations and home energy efficiency upgrades, and offers below-market interest rates, fast pre-approval and a variety of term options to suit your financial needs. The program does not require home equity, and includes loan terms up to 20 years. Through this program or other low-interest loans, it’s possible to set up a monthly finance payment that is less than or equal to your monthly utility savings.
Solarize Blacksburg is also proud to announce a partnership with a local community bank, First Bank and Trust, based right here in Southwest Virginia. First Bank and Trust will offer financing for solar installations and other home energy upgrades, and will work with you to get the best possible secured and unsecured financing. Especially if you already have a second mortgage on your home, consider contacting Marie Rorrer ([email protected]) or Terry Coble ([email protected]) to see how they may be able to refinance your existing second mortgage and provide additional capital for a solar installation or home energy efficiency improvements.