Buying a Solar Energy System
Purchasing a solar energy system is your best option if your primary concerns are long-term financial benefits and flexibility. However, to buy a system, you will need to make an upfront investment or get access to capital through a lender.
By purchasing a solar energy system, you gain access to state and federal tax incentives that help to reduce your upfront costs. When you own your system, you may also qualify for SRECs, an additional stream of income that can increase returns on your investment. Owning a solar system can also add to the value of your property.
If the property is owned by a corporate entity, you may also be able to recover some costs through depreciation. (Consult your tax advisor if you have any questions about how this might work.) However, some of these benefits are expiring soon – now is the best time to go solar if you want to take full advantage of incentives.
There are plenty of solar loan options available to help finance your solar PV system purchase with little to no money down, while still delivering the financial benefits associated with ownership. The Mass Solar Loan program offers no money down options from local lenders and rates below 3.25%. See how much you might save with a solar energy system for your property using the Solar Calculator.