Leasing Solar Panels
The cost of buying solar panels for your home requires a big cash outlay. Not many of us have that these days. One solution being offered now is to lease solar panels instead of buying.
As a writer for SolarCompanies.com, it should come as no surprise to you that I am pro solar. Having said as much, even I can't find any nice way to deal with the initial cost of buying panels for a house. You are looking at $25,000 for a decent system and that is a whole lot of cash when the economy going good. With our current tepid economic environment, that is simply a huge amount of money to come up with.
A new plan that is gaining momentum is the idea of leasing solar panels. There general idea is the solar company and utility team up to give consumers panels with no upfront costs. They pay for the panels and installation. You then pay the utility a fee, roughly $100 in most cases, for a 15 year term. Any government incentives also are passed through to the utility.
So, why would you do this? Well, there are a few reasons. The first is that you obviously don't have any upfront costs. The second is your utility bill should be reduced by more than the monthly lease payment. This makes it a win-win-win. The solar company sells panels. The utility benefits from a reduced demand on the grid. You benefit from reducing the total amount you pay on utilities. All and all, it is pretty sweet!
The idea of leasing solar panels is becoming so popular that many states are rushing to put plans into place. 2010 is expected to be a banner year for the idea. You should contact your state energy department and local utility to see if there are options available in your area.
