Major Solar Installers Jump on Solar Leasing Bandwagon
You may have heard about solar leasing as an affordable option for homeowners who want to invest in solar panels but can’t afford the upfront costs. You may have even read about solar leasing right here on the EcoOutfitters blog.
Three top solar PV installers all offer solar leasing as an option. This is by no means a comprehensive list, but SunRun, Sungevity, and Solar City are all top solar installers that understand the benefits (to consumers, installers, and to the environment) of solar leasing. Let’s take a look at what these companies offer…
SunRun – Leasing your solar panel installation through SunRun is just as easy as paying your electric company for the power you need to run your home — but it costs less and it’s better for the environment. SunRun’s solar leasing option lets you pay upfront for electricity to lock in today’s rates for 20 years and save 15% upfront. Or, you can get your solar PV installation with no money down, and simply pay for your solar electricity each month — just like your electric bill. The cost of installing your solar panels is factored in to your monthly costs, but, you’ll still save money over buying conventional electric power through your electric company. SunRun maintains and monitors your solar installation and the production of your solar panels, so you don’t have to worry about a thing!
Sungevity – When you take advantage of a solar leasing program through Sungevity, you’ll get free installation and will just pay a monthly fee (which will be less than you pay your electric company now) for your solar electricity and for leasing the panels that provide solar power for your home. You can’t lose, the company says, because if your solar panels don’t perform with the output they should, Sungevity pays for the difference. You’re guaranteed a consistent monthly rate, which is better than the electric company can offer. Sungevity pays for maintenance and any necessary repairs on your solar panels to keep them operating at peak efficiency.
SolarCity – SolarCity offered one of the first, and now one of the most popular, solar leasing programs with its “SolarLease.” You can lock in today’s rates, so your savings will grow as electric costs rise. Pay no money upfront, just lease your solar panels from SolarCity. The company takes care of maintenance and repair and also offers free monitoring through the trademarked SolarGuard technology.
When your SolarLease ends, you have the following choices:
- Upgrade the system to the latest in solar technology
- Extend the lease in 5-year increments
- Have SolarCity remove the panels for free and go back to paying more for electric through the electric company
If you sell your home, you can buy the panels upfront and add the price to your home’s asking price, or transfer the lease to the home buyers, providing they have excellent credit.
Are You Ready to Lease?
If your home is a good fit for solar energy, these companies provide you with every reason to lease — and no reason not to. Why not contact a solar leasing company today to see if a solar lease is a good fit for your home and your budget?