After you’ve assessed the companies, it’s time to compare solar quotes. All quotes should include information about the proposed system, its components, and associated costs. Look for:
If you're looking at a solar quote for the first time, we are happy to review contract terms, designs, production estimates, pricing, and anything else. We want to make sure you have all of the information needed to make a good investment . . . even if it is not with ReVision Energy. Give us a call!
There are multiple components of solar quotes, and they can be confusing, so we’ll break them down by category.
There are many ways to pay for your solar array.
Red flag: They only offer one financing option, and don’t clearly explain the details of the financing. There are different ways to pay for your solar installation, so be cautious if a company pushes one financing option without alternatives.
Red flag: They promise you’ll never get a utility bill again. This is wrong! If you have a grid-tied solar system, you will still get a monthly bill from your electric provider to pay for the grid connection. This connection fee can be anywhere from $8 - $25 per month depending on your location. So even if you’re offsetting 100% of your energy consumption with solar, you will still be charged a small monthly customer fee.
Yellow flag: They guarantee your home value will skyrocket. While solar can increase home value, every home is different, and installation quality has impact. A poorly installed, jumbled array from a company that has gone out of business may not increase home value.
Yellow flag: The cost of installation on your quote is "preliminary pricing." This fine print often means the installation company can add on fees for permits, interconnection, and engineering later, dramatically increasing your overall cost.
Green flag: They clearly display multiple financing options, show Return-On-Investment charts for any option you'd like, and are willing to discuss each one with you to highlight pros and cons.
ReVision Energy provides a variety of payment options:
Paying upfront with cash is simple and offers the best return on investment. Usually, you’ll pay one-third of the cost when you sign the contract, and the rest when the equipment is delivered and installed.
ReVision works with lenders like Clean Energy Credit Union and EastRise Credit Union to offer solar loans with terms from 5 to 20 years. Many of these loans start with a 12 to 18-month interest-only period, so your payments are low at first, giving you time to apply federal tax credits before full payments kick in. The monthly loan payments are usually equal to or less than your current electric bill, and there are no penalties for paying off the loan early.
You can use a HELOC or home equity loan to fund your solar project. This option often comes with better interest rates compared to other loans.
You can also explore other financing sources like personal loans, construction loans, cash-out refinancing, or even borrowing from retirement funds. If you go with your own lender, we treat it like a cash purchase and follow the same payment schedule.
You can mix and match these options, combining cash with a loan if that works best for your situation.
If a salesperson provides you with a quote that finances your system, be sure to understand any terms like dealers' fees or rate escalators.
A rate escalator is a feature in some solar financing deals where your monthly payment goes up by a set percentage each year.
When your contract has a rate escalator, your payments start off low but gradually increase.
For example, if your first payment is $100 and there’s a 3% rate escalator, your payment would go up to $103 the next year, $106.09 the year after that, and so on. Over time, these increases add up, making your payments much higher than you initially expected. Sometimes a contract may only show the monthly financing payments for the first year, which don’t factor in the annual rate escalator.
While rate escalators can make a solar agreement look more affordable at first, they can significantly raise the total cost over time. It’s important to understand how a rate escalator will impact your payments and make sure it fits with your financial plans.
A dealer fee is an additional cost in some solar financing. It is often hidden in the total loan amount to make the deal appear more attractive. Because the fees are not usually disclosed separately, you may not realize that a significant portion of your monthly payment is going toward these hidden costs, leading to a situation where the total amount paid over the life of the loan is much higher than expected.
Make sure you’re getting the full picture when comparing solar quotes.
Solar savings will vary by project.
Red flag: They make promises of energy savings or financial savings that seem too good to be true. Be cautious if a salesperson is exaggerating the numbers to make their offer more appealing. This can happen if they:
Yellow flag: They give you savings and energy production estimates without clearly explaining how they arrived at those numbers.
Green flag: They offer conservative estimates tailored to your specific situation, using historical data, and take the time to clearly explain all the calculations behind those estimates.
We provide realistic estimates of your potential savings and the time it will take to recoup your investment based on:
Our solar calculator gives you a rough estimate, and our team can provide detailed projections. Be sure to ask each solar company specific questions about how they calculate these numbers to ensure you’re getting accurate information.
We’ve been doing this for 20+ years and we pride ourselves on the accuracy of our proposals. But don’t just take our word for it – check out this system proposal from 2021 matched with its actual production after one year.
We estimated an annual energy production of 8.32 MWh for this system.
In its first year, the system actually produced a total of 9.39 MWh!
Want to chat with a current customer in your area about their proposal's accuracy? We can arrange that too.
Red flag: They can't or won't give you clear details about the equipment they use. This might mean they’re using low-quality gear or don’t actually have what they’re offering.
Yellow flag: They are unable to give you details or provide the manufacturer warranty documents for the equipment in your quote.
Green flag: They’re upfront about the equipment they use and work with well-known manufacturers that offer strong manufacturer warranties.
Understanding the brands and solar panels referenced in your quotes is important because you can compare manufacturer warranties, reliability, and performance. By learning about the different solar panel specifications, you can make a more informed decision that aligns with your energy goals, budget, and home preferences. Your system's designer should be able to explain the components and specifications of the quoted solar project in simple terms. Asking about these details will help you get a sense of their technical knowledge.
Do they really understand the product they’re selling?
While price is certainly important, cheaper costs in the short term can harm you in the long term. There are several other factors to consider when it comes to a solar investment:
Want to learn more? Check out ReVision’s guide on how to compare solar panels.
Regular maintenance and strong warranties are key to a productive solar system. Find out what to look for.
