A solar investment provides energy savings over 25 years or longer. Think of a stack of utility bills – 12 each year for 25 years. This is 300 bills with utility rate escalation happening in most years!
Homeland Solar provides no-cost consulting in the best ways for solar customers to "Pay As You Save." We don’t make money on solar financing, rather we work with the best financing partners available.
The right financing makes the upfront investment easier and improves your return on your solar investment.
Home equity loans are low interest and tax deductible but do require a lien on your home. Financing a solar system provides a better financial return than other home improvement projects.
Homeland Solar recommends using MichiganSaves.org. Michigan Saves℠ is a non-profit with a mission of funding energy efficiency and renewable energy projects.
MichiganSaves uses local credit union partners to provide non-recourse funds with no application fees, no early payment penalties, and quick approval. Loans of up to 100% of the cost of the solar system are possible.
This is "Pay As You Save" at its best.
Property-Assessed Clean Energy (PACE), Lean and Green Michigan™, is also an increasingly popular financing alternative for commercial projects.
Rather than traditional borrowing for your solar project, your solar investment is turned into a special assessment that can be paid for over the life of the system while savings in energy are realized immediately. Homeland Solar can help facilitate PACE financing.
In addition to MichiganSaves.org, farms and small businesses may be eligible for the USDA’s REAP grant program. REAP grants of up to 25% are available for solar projects.
Both agricultural producers and for-profit small businesses in REAP eligible zones can qualify. Homeland Solar advises and facilitates the REAP process – all at no cost to you.
Faith-based and NonProfits
Nonprofit organizations can not directly take advantage of tax saving incentives, e.g., the Federal Investment Tax Credit (ITC) and Federal/State depreciation expense. Third-party solar ownership makes these benefits available to you.
Third-party ownership can either be a commercial entity specializing in financing nonprofits or often an investor(s) group with an interest in supporting the mission of the nonprofit.
Faith-based organizations, for example, can form a Limited Liability Company (LLC) of its members to own the solar system and recover the costs from the nonprofit through a Power Purchase Agreement (PPA).
Homeland Solar has significant experience in helping with the creation of these third-party ownership LLCs and PPAs.
Homeland Solar provides best of class consulting on financial return of solar projects.
We strive to thoroughly understand your objectives and future plans, how you use energy, energy efficiency opportunities, optimized solar design, available rates, Federal and State solar policies, solar taxation, and the impact of key assumptions/decisions on financial results.
Good advice is highly valuable while bad advice can be costly.