SolarCity:Lease your solar roof panels
While solar roof panels are an excellent option for reducing carbon footprints and decreasing dependence on power supplied by utility companies, the initial financial output required can create a roadblock for many homeowners. SolarCity has introduced a new leasing program that may benefit those who wish to lower their monthly bills by using solar energy without the substantial upfront expenditure.
The 15-year “SolarLease” includes free repair service as well as “SolarGuard”, a monitoring service that allows clients to access a personal web page to view their system’s performance. Information about the cumulative financial and environmental benefits of the installation is also available. At the end of the lease, homeowners have the option of purchasing the system, upgrading to a new system or having the panels removed. Leases can be transferred in the event of a sale.
Bloggers at www.savewithsunlight.com provide testimonials about their positive experience with the leasing program.
For more info, check out http://www.solarcity.com/tabid/315/Default.aspx
Filed under: alternative energy on July 14th, 2008
Hey EcoLife team,
Thanks for the nod!
We’d like to post your testimonial if you want to send us one.
Warm regards,
Ted Parkman
Founder / SaveWithSunlight.com
hey cool blog! wonderful pictures.
Hi Ted,
We don’t have a SolarCity lease - Sunpower installed our system last fall. However, since we were previously unaware of a leasing option, we wanted to pass the good news along! There’s post on our solar installation in the “alternative energy” category.
And, YES, our meter is spinning backwards right now. Thanks for checking in.
Deb
Your blog is interesting!
Keep up the good work!
When you lease a solar system you don’t get the new 30% tax credit or the huge cash rebate or the valuable RECs(renewable energy credits) and all you’d be lucky to save is about $25.00 a month on a typical $250.00 electric bill after going through all the trouble of being locked into a lease for all those years. And after more than 10 to 15 years of lease payments you will own absolutely nothing. You’re far better off to buy a system using traditional financing. Not only will you get all of the financial incentives mentioned above but you’ll also own a system with a 30 to 40 year life expectancy that will put cash into your pocket every month for another 20 to 30 years after you’ve paid the system off. And that’s even considering the replacement of the inverter after 12 to 15 years. Lease a solar system…..I don’t think so ! Buying one makes a lot more sense. Why do you think the leasing companies BUY solar systems, take all of the financial incentives for themselves then turn around and lease systems to homeowners. Sure it’s great to go green, but why not go and put a lot of extra green in your pocket by buying a solar system instead of leasing.