When purchasing a Solar System, there always comes the question of, how much does the system cost? The real cost of purchasing a solar system is determined by many factors, Purchase Price, or Price Point, is but ONE of them! Including in professional consideration should be:
- Initial Down Payment.
- IRS Tax Credit (ITC rebate).
- Financing Cost.
- Tax Liability.
- Monthly Payments.
- Depreciation Benefits.
Product Value at the end of the contract is also an important item, but since we have a long product lifetime (20+ years), we will consider that to be negligible. The value resulted, from considering all the above items, is called: Total Cost of Ownership (TCO).
First Energy Systems, Flex-Buy Program, is based on this accounting principle. The calculation shows using the Flex-Buy program will yield a lower Total Cost of Ownership (TCO) even if the stated purchase price used in the Flex-buy method is higher than that used in Cash or Classic Finance purchase.
The above example shows that Total Cost of Ownership (TCO) for a $198,454 Solar System, when purchased for cash, financed through a financial institute, or purchased using Flex-Buy program (TOC) method will be ($191,707), (171,869), and ($129,657) respectively. It also shows that even if the stated Cash Price is $66,152 less, the actual Total Cost of Ownership for a Cash Purchase is $62,050 more! (due to rebates and tax advantages). When you add the above savings to the fact that the Flex-Buy program requires NO Out-ofPocket Money and NO Down Payment, the WINNER for best choice purchase method becomes clear and obvious.
First Energy Systems Flex-Buy Program. First Energy Systems offers Flex-Buy Financing and guarantees the Lowest Cost of Ownership. Our Flex-Buy financing gets you 2 loans, each for 50% of the Solar System cost to cover it ALL.
Loan # 1 is a Zero Interest loan, due on June of the year following system installation (that is AFTER you get your Credits and rebates of 55% of the system cost) *.
Loan # 2 is an In-House, 20-Year loan with a Zero Interest rate. Payment of which starts on June of the year following system installation (that is AFTER you get your Credits and rebates of 55% of the system cost) *.
Note: Loan #1 can be restructured with up to 5 annual payments & No-Interest (fees apply) *
(*) Subject to qualifications, terms & restrictions. Qualification for Loan #2 is automatic if the client qualifies for Loan #1