FAQS

Q: SHOULD I LEASE/PPA OR PURCHASE A SOLAR SYSTEM?

A:

Each option has their benefits and every person’s situation is different. However, we have seen large savings differences for customers who purchase when compared to a lease/PPA. Our proposal tool will provide a Yearly Cost Breakdown to show you what you can expect from each option. Feel free to contact us at sales@impactsolarnj.com or 888-251-1676 for more information.

Q: HOW MUCH WILL I SAVE GOING SOLAR?

A:

If qualified, a lease/PPA will initially save you between 20-30% off your current electric costs. Our $0-Down Solar Loan program is likely to save you between 75-100% off your current electric costs. Our Cash Purchase will see between a 15-25% annual Return on Investment.

Q: HOW LONG IS THE SYSTEM WARRANTY?

A:

In a lease, all repairs and maintenance are covered for the entire term.

In a purchase, the equipment will come with a 25-Year Manufacturing Warranty. Impact Solar also provides a 10-Year Workmanship and Leak-Proof Warranty on the installation as well as a 10-Year Solar Production Guarantee.

Q: WHAT HAPPENS TO THE SOLAR SYSTEM IF I MOVE?

A:

If leased, you simply transfer the contract to the new homeowner at no fee. Other options are available and can be discussed with your consultant.

If purchased, the solar system becomes an asset to your home. If you still owe money on the loan, you should incorporate that debt into your asking price. Before negotiating with a buyer, you also should calculate your expected revenue from your future SRECs (current value of SRECs X how many years left in the program). You will be transferring ownership of the SRECs to the buyer and this can be a powerful negotiating tool to help justify your asking price. At this point, the buyer should see that your asking price is reasonable given the benefits he/she will receive. In the end, you are selling a home with a low electric bill with revenue from the SRECs!

Q: WHAT HAPPENS IF MY ROOF LEAKS FROM THE SOLAR SYSTEM?

A:

In a lease, your home will be protected from any damage caused by the solar system for the term of the lease.

In a purchase, our leak-proof warranty provided by Impact Solar LLC will protect your home from any damage caused by a leak if determined the leak was caused by the installation. A leak that occurs after 10 years from installation will be covered by your Homeowners Insurance policy.

Q: WHAT IF A STORM DAMAGES MY SOLAR SYSTEM?

A:

It is recommended that each homeowner with a solar system notify their property insurance provider to cover damages by storms or unforeseen acts.

Q: WHAT HAPPENS IF I NEED TO REPLACE MY ROOF DURING THE LIFE OF MY SYSTEM?

A:

We do not recommend installing a solar system on a roof that has shingles that are 10 years or older to avoid this issue. If you need to replace the roof, then at a cost we can remove the system, allow the roofers to redo the roof, and then reinstall the system for you.

Q: WILL I STILL HAVE A BILL FROM MY UTILITY COMPANY?

A:

If we are able to design a solar system that can produce 100% of your electrical needs, you will just receive a bill for about $3-5/month from your Utility company. These are the customer charges to remain connected to the utility grid.

Q: DO YOU HAVE AMERICAN-MADE EQUIPMENT?

A:

Yes. We work with several different manufacturers.

Q: WHY ISN’T EVERYONE GOING SOLAR?

A:

Many factors affect a decision to go solar including roof condition, shading issues, homeowner credit, next sale of property, solar electricity offset, solar panel placement, etc. All these factors need to be considered before someone decides to go solar.

Q: HOW DOES THE 30% FEDERAL TAX CREDIT WORK?

A:

If you lease, you forfeit the Your Federal and State Benefits to the leasing company.

If you purchase, you qualify to receive a 30% Federal Tax Credit on the total system cost. To receive the entire credit, you must have paid the equivalent of the tax credit or more to the Federal government from your income taxes. If you pay your Federal taxes through your employer, you will receive a check for the credit amount from the Federal government when you file your taxes. If you are self employed, Your Federal tax liability will reduce the equivalent amount of Your Tax Credit.

Example:
Solar System Cost: $30,000
30% Tax Credit: $9,000
Net Cost: $21,000

Q: WHAT ARE SOLAR RENEWABLE ENERGY CERTIFICATES/CREDITS (SREC)?

A:

If you lease, you forfeit the Your Federal and State Benefits to the leasing company.

If you purchase, you qualify to receive Solar Renewable Energy Certificates (SREC) for 10 years after installation! For every 1,000 kWh your system produces, you receive one certificate. You can trade this certificate on a regulated market for cash. The value of these certificates fluctuate due to changes in supply and demand. When you purchase from us, you have the choice to sell the SRECs yourself or allow one of our SREC partners to do so on your behalf.

Q: MY FAMILY/FRIEND WANTS TO GO SOLAR TOO. CAN WE PACKAGE THE DEAL AND GET A CHEAPER PRICE?

A:

We give out the most competitive prices in the industry. We do have a referral program, where you would receive $500 from Impact Solar LLC if the referral signs up!

Q: I JUST GOT A NEW HEATER/AC, WILL THE SOLAR SYSTEM INTERFERE WITH IT?

A:

We do not interfere with the electrical infrastructure of your home. The solar system will be wired directly to your electrical meter.