Leasing a home PV solar system is something that is a relatively new concept, but has been around for about 4 years now. The idea of a leasing solar came about due to the high cost of solar systems in the United States, with the goal of solar companies making the entry point much easier for a homeowner wants to buy a solar system. There are many advantages of leasing a solar system compared to buying a solar system, and I will discuss them within this article.
Low Up Front Cost to a Lease
If you are interested in buying a solar system, the solar lease might be the option for you due to the much lower up front cost. Since you would not be the owner of the actual system, you don’t need to buy the whole thing. That equals less up front money, its that simple. If you want to have solar electricity but can only claim a bank account of a few thousand dollars, the lease just might be your answer.
Some else will maintain the Solar System
When you are leasing the system, most companies who offer a solar lease will maintain the system on their dime. This is great because it keeps them vested in having the system in good health. If you are dealing with a company who does not cover up keep costs, negotiate that into the lease, THEY SHOULD.
You can Negotiate a Solar Performance/Output Contract
Before you sign any solar lease, you want to know exactly how much you will be paying each month, and exactly how much electricity you will be getting in return. You can put this into the lease contract too. If the performance of the system does not match what is gauranteed, you don’t need to move forward with your payments. If the solar company is not willing to do this, you should look for a different solar company to buy the solar panels from.
Every Solar Lease is different
One thing to consider when you are getting ready to get involved in a solar lease, each person’s home is different. Each home’s energy use is different too. Make sure to read through the entire lease agreement prior to purchasing/closing a solar lease. What might have worked for your neighbor may be different for you. And vice versa.
One company that is beginning to become a national player in PV solar is called SolarCity (Solar City). They specialize in PV solar leasing and have been doing it for quite sometime. But there are also several other solar companies that do solar leasing too.
