Sunrun is the nation's leading provider of financing for home solar systems.
Going solar can be very expensive - purchasing a system can cost anywhere between $15,000 and $60,000. There are financing options available to make solar energy more affordable for homeowners.
- Solar Lease / PPA - This is the most common way for homeowners to finance solar energy. With solar leasing or a power purchase agreement, a third-party, such as Sunrun, buys and takes care of the solar panels; you pay a fixed rate for the solar electricity the system generates. This way, you skip the upfront cost and lock in low rates for solar electricity for the next 20 years. Sunrun pioneered this type of residential solar financing in 2007 and we are the best at it today.
- Loans and Mortgages - You can also take out a home equity loan from your local bank or an energy efficiency mortgage from the federal government to finance your solar system. Fannie Mae and the U.S. Environmental Protection Agency offer home loans for solar systems through their Energy Star program. With loans or mortgages, you’ll still have to pay the complete upfront cost of the home solar system.
- PACE programs - Some states are also establishing public solar financing programs, known as Property Assessed Clean Energy programs. Under a PACE program, the city loans the homeowner the cost of the system and the homeowner pays the money back through higher property taxes.
- New solar homes - If you’re looking for a new home, you can also purchase a home with solar panels pre-installed with Sunrun solar home financing.
Sunrun launched the first residental solar PPA in 2007 and is now the nation’s leading home solar financing company. As of January 2011, Sunrun had nearly 64% of the solar financing market and installs $1 million in solar systems on a daily basis.