Energy Experts: Solar Panel Cost and Financing

YUMA, Ariz. ( KYMA, KECY) - Jimmy Esparza, who is the CEO of Renewable Power USA, talked to us a little bit about Solar Panel preparations last week on solar panels for residents in the area who are interested or simply just want to know a little bit more about having solar panels in their home.

Today we talked with Esparza about cost and financing.

 How much does it cost to install solar panels?

"The cost that is determined is on how much construction we have to do for the home. Right. So let's say if it's a brand new home, we typically don't have to do anything extra, you know, as far as upgrading electrical panels or trenching or digging or nothing like that.  Right. So I'll say, you know, the cost will if a customer will pay seven years of their regular utility bills, that's as much as it will cost them to have a system that will power for a power them for 30 years. So to to answer that question direct, they'll see anywhere from 20 29000 to $25000 as far as equipment, Says Esparza."

What financing options are available for homeowners?

"Most of our clients, like, they don't have the full of pocket, which is completely fine. Right. Like, you know, you know, all we do is we find them the best option to finance or even lease them." 

  "We have those options available with their zero out-of-pocket. So which is pretty, pretty good. And that's why, you know, we have had a lot of success and some tremendous success because customers don't come at anything out of pocket. All we do is just pretty much replace what they're already doing and giving them an alternative where they could have, you know, plenty of savings as far as like electricity goes." 

 "Zero out of pocket. You know, we get financing, zero out of pocket or we could lease on would zero out of pocket or you know which is and they don't have to have like an amazing credit. You know how it is like, you know people usually is like, oh, maybe I can't get a deal like that because you know, my credit it's it's average is not, you know, amazing, you know, but you know it's kind of it's pretty similar." 

 "The same thing that we can do for somebody who has a an average credit score to somebody has amazing. We could, you know, provide them with the zero down top. Yeah. Oh, that's good. Yeah, I know a lot of people probably we're having that question too about, you know, like their credits and stuff like that. So that's definitely a good option to know about, says Esparza."

 So are there any incentives or rebates available for installing solar panels? 

"Yeah, there's still the federal government is giving 30% or whatever the the system is worth it. So anywhere from 5000 to $9000 plus, I've seen, you know, bigger projects. What they go anywhere from like $17,000 in a tax credit. So what that does is like if the homeowner typically owns all those taxes. And they as the end of the year, can they owe, you know, 5000, 10,000, you know, they'll have a credit that they could, you know, pay some of that with their taxes, which is pretty neat. Or they could get a bigger refund. It all depends how the customer filed their taxes and, you know, their CPA will have all that information says, Esparza."

"But there is those credits available for the clients, and actually I've benefited from them as well, which has been pretty, pretty good. There you go. See, And you guys can probably benefit from that, too, as well. Yes. All right. Well, is there anything else you want to add before we wrap things up here? Yeah, here in the state of Arizona, there's there's also a $1,000 state credit." 

"So even the state is part of you know, there's, you know, this movement where they want to encourage people to to have solar so they could be more self-sufficient and they could also, you know, save thousands. And they're also providing with incentives for them to do it. And and I would encourage people, if you're looking at it, you know, we'll be happy to assist and, you know, provide them with, you know, what their necessities as far as solar goes and give them the best options for them to, you know, make it a smooth and easy transaction for them."