Learn more about required solar panels.
*Consistent with California energy regulations, new homes must be equipped with solar panels. Solar panels are not included in the posted price, but may be leased for a monthly payment, or purchased for an additional cost that may be eligible for mortgage financing. The required size of the solar system depends on several factors, including, but not limited to, home size, local utility rates and climate zone. The installed solar system may reduce your monthly local electric utility company bill. For more information, see sales agent and Solar Energy System Addendum.
Estimated cost of an average-sized solar system:
- Assumed terms: Conventional 30-year fixed rate mortgage
- Estimated cost: $53-$61 per month (could be higher depending on interest rate)**
- Assumed terms: 20-year, zero-down lease program
- Estimated cost: $114-$140 per month***
Monthly cost estimates vary depending on location of home, interest rate if system is purchased, capacity and output of system, if system is leased and other factors, and are subject to change without notice.
This is not a commitment to lend. Program restrictions apply.
Making the decision regarding how to finance the solar energy system for your Warmington home depends on your preferences, needs and financial goals. The information at www.homesbywarmington.com/solar can help you prepare for making the decision.
**Estimate based on mortgage financing provided by one of Warmington’s lenders of choice. Estimated costs assumes borrower qualifies for a conventional 30-year fixed-rate mortgage loan including a solar system with a value of $12,500 – $14,500, with an interest rate of 3.0 % (APR 3.125%) and a 20% down payment. Additional monthly payment (for the solar system portion of the home sales price only) includes principal, interest and mortgage insurance only. Estimate assumes borrower has good credit, established a tax and insurance impound account, provides full documentation, and pays estimated closing costs. Program, rates, fees, terms and conditions are subject to change.
***Information provided by the Lessee - Sun Power Solar Energy Systems. Estimate is a range based on the energy production factors used to determine lease terms, compared to the system purchase cost financed in a system purchase. Actual lease cost will depend on the location of the home, number of panels in the system and the modelled energy output of the system. Program, rates, fees, terms and conditions are subject to change.