The solar industry is bringing cheap and clean energy to consumers in a whole new way – through solar leasing. Leasing a solar system has become an extremely popular way for homeowners to get solar for their home at very attractive rates. Now is a great time to learn about solar leasing and why it may make sense for you.
Option # 1: No Money Down Monthly Solar Lease
The benefits of a monthly solar leasing option are multifold. For starters, by leasing a solar system homeowners can avoid the upfront costs of purchasing a solar system since most leasing arrangements require little to no money down from the lessee. A monthly solar lease can deliver savings on your electricity from day one. Another perk is that with a solar lease you are no longer subject to roller coaster utility bills. Instead, solar leases establish a fixed, monthly payment for lessees that won’t soar even when the solar system produces more electricity.
Finally, the icing on the cake is that the solar company maintains, insures and guarantees the system’s performance for the entire duration of the solar lease. This means that homeowners avoid maintenance costs while always resting assured that their leased system is operating at optimal performance.
Option #2: Pre-Paid Solar Panel Lease
A pre-paid solar panel lease delivers many of the advantages of ownership with some significant benefits that only a lease can provide. Pre-paid lease programs, like Geoscape Solar’s EasyOwn lease, are 20-year leases featuring a single significantly discounted upfront payment. You never have to make another payment again and when the lease expires you have the option of keeping your system. It really is the best of both worlds. Moreover, just like a traditional lease, the leasing company takes care of maintenance, insurance, and guarantees system performance. The pre-paid solar panel lease is one of the most popular NJ solar power options.
What Type of Lease Should I Choose?
The terms of solar leases can vary, depending upon how much money a homeowner is interested in putting down upfront. A zero-money down lease is quite common and obviously a good fit for homeowners that don’t want to pay any cash up front. On the other end of the spectrum, a prepaid lease arrangement is one in which the homeowner is as close to owning the system as possible while still actually leasing it. Naturally, this requires a relatively larger upfront expenditure, but also provides the best return on investment and the most solar savings.
Regardless of your leasing choice, you should know that you might still get an electric bill. It all depends on the size of the system that you can fit on your roof or property and the percentage of your electricity usage that your system covers.
In short, solar leasing is revolutionizing the solar industry making solar accessible to really any homeowner that is interested in going green. If you thought you couldn’t afford solar…maybe it’s time you think again!