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Home Solar Advocacy Publication

The Worst Solar Idea In 2020

The Worst Solar Idea In 2020 without question is 20-year home solar financing!

Return on investment goes out the window with 20-year financing even at 5% because it ends up doubling the cost of home-solar over a 20-year term. Financing long term defeats the whole idea of cheaper energy.

For any homeowner to qualify for a low-interest 20-year term home solar loan has good credit. A homeowner who can qualify for a long term loan has a lot of options for paying off a solar system. Although you can pay-off a 20-year loan early without penalty, it’s a trap. Most people will keep paying monthly and get comfortable doing that and lose money.

Banks don’t do home solar loans and that’s why these specialty solar loan companies exist. They require good to excellent credit because they know customers will not be willing to damage their credit for non-payment. Most borrowers for home solar were paying a large portion if not all of what the solar payment is to the power company previously. So in most cases their not losing money but they’re not making any money from home solar.

Aside from reducing our carbon footprint financing home solar isn’t beneficial because it takes away the financial gains. There are many different options available for a homeowner with good credit if they’ve decided to go solar. This is why financing is the worst solar idea In 2020. It’s your home, your money so it should be your profit, not a lending institution.

Home Solar Is a Moneymaker When Done Right!

Home solar is very profitable when done right. Doing home solar right entails paying the lowest price for a high-quality solar system and the lowest price for the money to buy it.

When the cost of a solar system is half as much as any solar company charges, homeowners make a profit from it. Home solar has a wide range of costs for the exact same home solar system. Here’s a couple of examples below, the first example is the most expensive and second example is the best price.

Solar Company Proposal for a 7K System

The solar company provides an invoice that shows the solar panels, inverter, and installation. The customer has no clue they paid for all these additional costs. These are the real costs being passed on to the buyer by solar companies.

The Cost of a Solar System and Add-Ons To Every Solar Proposal Cost of Add-Ons
The Cost of Salesperson $3000
Sales Manager $1500
Proposal Builders and Permitting Department $1000
Overhead: Rent, Auto Insurance, Vehicles, and Utilities $1000
Cost of Leads and Marketing $1000
Points for Low Interest 20 Year Loan Terms (Frequently Hidden Cost) $2500
Solar Panels, Inverter, Installation $17,000
Solar Company Profit $5000
Total $32,000

“Your Solar Advocate” Eliminates The Following Costs of Home Solar

Add-Ons To Every Solar Proposal Cost of Add-Ons
The Cost of Salesperson $3000
Sales Manager $1500
Proposal Builders and Permitting Department $1000
Overhead: Rent, Auto Insurance, Vehicles, and Utilities $1000
Cost of Leads and Marketing $1000
Points for Low Interest 20 Year Loan Terms (Frequently Hidden Cost) $2500
Solar Panels, Inverter, Installation $17,000
Solar Company Profit $5000
Your Solar Advocate” Target Price $2.75 a watt $19,250 Minus $5005 *Tax Credit = Net Cost $14,245

The solar company doesn’t pay the additional overhead costs, the buyer does.  They also do not pay out any of the costs until the finance company funds their account when your loan is finalized.

"Your Solar Advocate" a Free Consulting Service Target Price Is $2.75 a Watt!

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