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In the 1980s, there was a huge 70% Federal tax credit available if you put a solar system on your home. At the time, we saw solar systems on roof tops popping up like crazy. Most of those systems were “financed” by the tax savings afforded the homeowner. They were primarily designed to heat water and indoor spaces using radiator-based systems. Today, most of the panels you see going up are photovoltaic (PV), which produce electricity for the home or provide power back to the grid. These new systems are expensive, and the tax credits aren’t as big as the good ‘ole days of the `80s. Most homeowners who install these systems don’t pay cash upfront. Instead, they typically enter into a lease agreement or take out a loan secured by a deed of trust on the property.

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