Overview
Solar PV systems are financially viable today. Solect works with prospective customers as part of its Feasibility Assessment to determine the most appropriate funding option. Various factors exist which make the systems financially attractive – competitive solar panel costs, federal tax incentive and grants, and state initiated Solar Renewable Energy Certificate (SREC) programs all contribute to the total cost of ownership benefits. Solect customers can choose to 1) own the system outright and maximize these benefits using their own capital, 2) avoid a capital outlay but still take advantage of these incentives and programs by utilizing a Solect Power Purchase Agreement, or 3) arrange for a traditional lease with one of our financial partners. Owning the system typically results in a 5 -7 year simple payback and then "free" electricity for the next 20 years, a Power Purchase Agreement has a reduced and controlled electric payment from day 1, while a lease will fix your monthly cost with a predetermined purchase option at the end of the term.