As a homeowner, have you ever weighed the options of going solar? Thanks to the start-up company Geostellar, U.S. homeowners will now have an online marketplace to compare pros and cons of leasing solar panels versus buying them outright.
The ultimate perk, though, is that you can sign up to have a full install of your new “solar-based” system.
About GeoStellar.com
Geostellar hopes to be the “Expedia” of the solar industry, with the ultimate goal being to lower the cost of acquiring new customers for its clients. In the competitive rooftop solar industry, solar companies need to be able to deliver lower power bills for their customers to create sustainable relationships.
Geostellar’s process:
- Satellite data build 3D representations of the rooftops of various neighborhoods
- Geostellar calculates how much sun a particular rooftop gets at different times of the year using a simulation which moves the sun across the sky. Many times this calculation aids the customer in deciding whether going solar makes financial sense.
- The website produces a detailed quote of what a solar installation may cost, factoring in local utility rates and government incentives.
Featured Companies on Geostellar:
- NRG Energy Inc.
- No. 1 United States installer SolarCity Corp
- Admirals Bank (Boston-based solar loan provider)
- Conergy (manufacturer and fincancier)
- Roof Diagnostics (East Coast installer)
- Connecticut’s Clean Energy Finance and Investment Authority
What are the payment options?
Through GeoStellar.com or their mobile app, Solar Mojo, visitors can decide whether they want a lending plan, lease, or cash purchase.
Solar Lease – Monthly fee with no money down, but the homeowner does not own the solar panels.
Loan – The homeowner owns the panels, but payments are spread out over many years. The homeowner is eligible for a federal tax credit worth 30 percent of the value of their installed solar system.
Cash Purchase – The average home will run between $20,000 and $30,000.
