SLTD : Solar3D Touts Advantages of Owning Versus Leasing Solar
SANTA BARBARA, CA -- (Marketwired) -- 09/23/14 -- Solar3D, Inc. (OTCQB: SLTD), a leading solar power company and the developer of a proprietary high efficiency solar cell, commented today on the growing trend among commercial and residential property owners to own, rather than lease, their solar systems.
Recently, influential experts and media alike have referenced the many reasons why owning a solar system is more advantageous than leasing. Earlier this year, a Fox Business article shared, "Homeowners who chose to own the solar panels not only get the best price but they can also benefit from city and state tax breaks depending on where they live." A writer for the Institute For Local Self Reliance stated, "...in the years ahead, the expiration of federal tax incentives and simplified options for ownership (and its significant better long-term value) will mean a surge back toward solar ownership."
Among the benefits, SUNworks highlights the government support, citing 30% unlimited federal tax credits and state-provided cash rebates. Additionally, owning creates an exemption from future rate hikes due to the offset of utility bills, as well possessing the ability to write off the interests paid on a solar home loan, as opposed to lease payments which cannot be written off. Lastly, owning a solar system appreciates the value of your home, and provides more flexibility and freedom regarding size and the actual solar installer. Many times, the system pays for itself within 5 to 7 years, equating to a 25%-35% internal rate of return.
"Although we offer leasing programs for solar systems, SUNworks has promoted ownership, as we believe that purchasing a system instantly creates an asset on your roof, while leasing a system does not provide the same form of long-time value. Our ability to help our clients maximize the economics of ownership is a key driver of the rapid growth of our company," said Abe Emard, CEO of SUNworks.
"More established providers such as SolarCity and Vivint Solar built their businesses on zero-money down solar leasing programs for the first wave of early adopters. We are now seeing the second and larger wave of mainstream customers looking to own solar. While SolarCity wants to be the new power company, we want to help our customers become their own power company," said Jim Nelson, CEO of Solar3D.
SUNworks is focused on the design, installation and management of solar systems for agricultural, commercial, and residential customers, delivering hundreds of 2.5 kilowatt to 1-megawatt commercial systems, and with the capability to deliver systems as large as 25 megawatts.
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