Make solar one of your greatest assets
With a solar Cash Purchase Agreement, we’ll sell you a solar energy system for a set amount upfront. This means that, in purchasing the system outright, you’ll have full ownership of all the equipment and the power the system produces. This is beneficial for you because it means you’re buying the complete system, which may be cheaper than leasing it from us at a set market rate or buying power from us at a rate based on an escalator value. It also means you may be eligible for any tax credits* that may come to you because you own and operate your own solar energy system.
*Tax incentives subject to area and availability. Vivint Solar does not offer tax advice. Please consult with a tax professional for details.
Additional questions about our solar Cash Purchase Agreement
How do I know if a solar Cash Purchase Agreement is the right financing plan for me?
Excellent question. That’s actually up to you, your financial situation, and the requirements based on the area in which you live. However, there are a few things you can consider when it comes to harnessing the benefits of a solar Cash Purchase Agreement. Here are some things you’ll want to ask yourself:
- Do I want to receive a monthly bill from Vivint Solar or am I in a position where I can afford to invest in a long-term, financially beneficial asset and thus avoid another recurring bill on my budget?
- Do I want to own my own solar energy system, and thus maximize the financial benefits that come with signing a solar Cash Purchase Agreement, as opposed to simply benefitting from the production of the solar energy system, like I would with a Solar Lease Agreement or Solar PPA?
- Do I live in an area where I may be able to potentially benefit from a state or local solar tax credit because I own my own system?
- If I move, can I potentially increase the market value of my home by installing a solar panel system and then selling my home at a higher rate?
Depending on how you answer each question, you may be a perfect candidate for a solar Cash Purchase Agreement. Be sure to check the coverage options in your area to ensure you live in a place that will allow you to sign a solar Cash Purchase Agreement.
What is the average cost of a solar energy system?
Because Vivint Solar custom designs your solar energy system, it’s actually hard to indicate the cost of a solar energy system for you—even an average one. Other places may make a blanketed statement like, “Oh, anywhere from $15,000-$30,000,” but we don’t feel that’s accurate either. Depending on the type of system you get and the rates in your area, the overall cost could be more or less than that. The truth is that so many things go into the cost of a solar energy system (the size of your home, the size of your roof, your energy consumption as a household, the utility requirements in your area, the rates in your area, your electrical setup, etc.) that it’s not actually beneficial to answer that question for you. Instead, we recommend that you reach out to one of our solar experts and first get an idea of whether or not your home is even a good fit for solar. If it is, then a consultant will go over pricing options for you based on the various factors we’ve already indicated above. It really is the best option, because we feel that the variables associated with the cost of a solar energy system range too widely to be deduced to a single answer, and we don’t want to waste your time with ambiguity.
What happens if my solar energy system breaks or stops working?
With a solar Cash Purchase Agreement, you get the benefit of owning your system outright, which means you are responsible for maintaining it. Now, keep in mind that solar equipment is durable and comes with warranties that you’ll be able to utilize if there is a problem. We also offer maintenance plans that you may be able to buy into, if you choose not to do the work yourself. We’ve also created a Help Center for our solar homeowners to go to if they ever run up against an issue with their system. This eliminates the need for you to spend unnecessary time on the phone with a Vivint Solar representative. But, if you are someone who likes to connect with people, we have a Technical Support team that is dedicated to helping solar homeowners with issues that may arise regarding their solar energy system, free of charge.
Are there other benefits to financing with a solar Cash Purchase Agreement?
Are there ever! Check out some of these cool perks you may get from signing a solar Cash Purchase Agreement:
- Shorter time to activation. We know it may sound odd, but by signing a solar Cash Purchase Agreement, you could potentially shave several months off the time it takes to install and activate your solar energy system. That’s a quicker turnaround for you to start potentially saving with solar, and less for you to worry about. - Potentially lower utility bill. Because you own your own system, you won’t need to make a monthly payment to Vivint Solar, and all that delicious renewable energy may make a huge impact on your utility bill. Again, your potential savings is based on your current utility rate and the net metering arrangements in your utility. - Potentially increased home value. Own a Vivint Solar system? That means that there is the potential for the additional asset on your home to increase the overall value of your home. If you are preparing to move and plan to have your home appraised, be sure to have the appraiser include the value of your solar energy system, so that you can account for the cost of the system in your home sale price.
Compare our other solar plans
*Warranty refers to solar panels. Refer to your customer agreement for all warranty terms and conditions. Plan availability varies by area and utility.
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