Making Solar Panels Affordable Through Leasing

Posted on January 5, 2009 by Joyce Benson   2 Comments |
Tag(s): Energy, Greenhouse Gas Emissions / Global Warming, Greening the Home, Greening the Office, Money Saving, The Great Green Outdoors

If you’re interested in harnessing the power of the sun to supplement your electricity generation, but can’t afford the upfront cost of purchasing photovoltaics, leasing solar panels may be the answer you’re looking for.  Photovoltaics are a clean source of energy and can produce a significant portion of a household or building’s electricity.  This reduces one’s utility bills, curtails one’s carbon footprint, and cuts down pollution from conventional electricity generation (like coal, which produces 50% of our power here in the U.S.).

Photovoltaic-leasing companies, such as Citizenre, require customers to pay a monthly rent on the leased panels at a fixed rate, over a specified period of time of 1, 5, or 25 years.   The company will take care of the installation and maintenance of the leased solar panels on your rooftop with a $500-$1000 security deposit that is refunded (with interest!) to the customer upon the end of the contract.

Some utility companies even allow you to sell back excess power that your solar panels generate (when your panels produce more power than your house or building uses), putting extra money in your pocket!  This process is called net-metering, and numerous local utility companies in most states offer it.

Companies that provide solar panel leasing include:  Solar City, freEner-g, and CT Solar Lease.

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