Solar Financing & Incentives
Solar financing and incentives make it easier and more affordable to install solar panels at your California home or business. Six Rivers Solar works with a variety of financing companies and can help you find a solar loan that fits your needs the best. We want to make sure the right financing is available for your solar system purchase and will work with you to find an option that makes sense for your project and budget.
Solar Panel Financing Options
When it comes to solar financing in California, you have a few different options to choose from:
Talk to Your Bank
One method of financing your solar purchase is to reach out to your own bank, the benefit being that you likely already have an established relationship with them that will make securing financing for your system simple and easy.
Coast Central Credit Union’s HELOC (Home Equity Line of Credit) is an excellent option from a local bank that can be used to finance your solar installation.
If you would like to explore solar financing outside of your own bank, Sungage Financial is a great option. Sungage makes solar financing simple and convenient for homeowners, offering:
- Zero-down solar financing
- Low monthly payments
- Easy online application
- On-the-spot approval
Ygrene is another excellent solar financing company that makes solar panel and battery installation more affordable. Ygrene offers easy solar financing with:
- Zero-down financing options
- Fixed interest rates available
- Easy online application
- Fast approval
We Make It Easy to Finance Your Solar Purchase
Six Rivers Solars wants to make solar energy as accessible as possible for our customers. Cash is always an option in addition to financing. We do not require a down payment or deposit, and we only request funds once your system has been installed.
If you want to learn more about the solar loans and financing options that may be available to you, give us a call and we’ll be happy to provide additional information and help you make the best decision for your solar installation. We offer free, no-obligation in-home consultations so you can talk to an expert without any pressure.
Solar is essential to a clean energy future! To make it easier for homeowners and businesses to go solar, the government offers incentives for solar installation. You can qualify for solar incentives whether you finance your solar system or pay with cash.
Some of the best solar incentives that are currently available include:
The Federal Solar Tax Credit
The federal solar tax credit, also known as the solar Investment Tax Credit or ITC, allows homeowners and businesses to reduce their federal tax liability by a percentage of their total solar installation costs.
The solar tax credit in 2022 is worth 26%. The ITC is on a step-down schedule, however. It will be reduced to 22% in 2023 and eliminated for residential solar in 2024. Commercial solar projects will qualify for a 10% tax credit from 2024 on. To get the highest incentive, start your solar installation ASAP!
MACRS Depreciation for Commercial Solar
MACRS depreciation is a commercial solar incentive that allows businesses to recover some of the costs of their solar installation through accelerated depreciation. Qualifying solar equipment is eligible for a cost recovery period of five years as opposed to the usual ten year depreciation period. If the ITC is also claimed, the solar owner must reduce the project’s depreciable basis by ½ the value of the ITC.
Solar Net Metering
Net metering is one of the best solar incentives in CA. Net metering allows you to trade the excess electricity your solar panels produce to your utility in exchange for credits that can be used to pay for the electricity you may need to buy from the grid when your solar panels are not producing electricity.
Recently, there has been talk about major changes to net metering in California, but as of now, the proposed changes have been delayed indefinitely.
Other Options Available!
Let us help you find what will suit your needs best!