How to Finance Yorba Linda Solar Energy Systems

Putting Yorba Linda solar energy systems to work for you will mean big things for the environment. Cutting down on the use of fossil fuels and reducing an individual and family’s carbon footprint means a lot less pollution. Some people will wonder how a Yorba Linda residential solar plan can be financed by the average California family. Although there is bad news about oil prices coming from abroad, there is good news about putting solar power to work for you.

The big cost of Yorba Linda solar energy systems comes from the initial investment, i.e., the solar panels themselves. This cost has come down in recent years, making the idea of this “green” energy source feasible to most people. For California residents, it gets even better. State tax incentives can cut the prices on solar energy for you, meaning the savings you receive from switching to solar power will be more attractive.

Still, you might be concerned about the upfront cost attached to Yorba Linda solar energy systems. There are several ways to consider financing these systems. First, you could take one of the deals from a company allowing your family to get started without a down payment. It might work if you are not intimidated by the terms, but make sure it makes sense for as long as it will take to pay off the loan.

Another way to go is by paying the entire amount up front on your own. You can think of it as a smart investment in many ways. For one thing, you won’t have to pay financing fees and interest on loans. You can also get back a significant part when you file for federal tax credits the following year. Homeowners can get as much as 30% of the entire investment back in tax credits when accessing solar power. That adds up to huge savings and there is generally no cap on the amount credited back to you, as long as the home is your primary residence.

Once that credit comes through, you can start to figure out the state credits you can file for. You will get a property tax credit in most cases and you might be able to get increased credits depending on your locality. Certain counties offer even more savings. Of course, you will have lower energy bills to pay every month, meaning the only large expense is the installation cost. Run the numbers and see how this program can work for you.

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