If you want to save money on your utilities while reducing your home's impact on the environment, the most effective step you can take is to install solar panels. However, for many people, buying solar panels is too much of an investment. While they pay for themselves in the long run, not everyone has access to that much money up front.
As an alternative with no money down, you can check out leasing options like Palmetto's LightReach program. This will allow you to install solar panels without having to purchase them yourself; you will simply pay a modest rate for the energy they generate, which is locked in for the duration.
Palmetto's experts, Andrew Giermak and Andrew Blok, also break down the pros and cons of buying versus leasing on the company's website.
First of all, the biggest benefit of solar leasing is that it allows you access to solar panels now, without having to save or take out a loan. You won't own the solar panels, but there is also a benefit to this: you aren't responsible for their maintenance, and if they're damaged, you won't be on the hook to replace them; the company takes care of all that.
Your energy payments will be predictable and will generally be billed at a lower rate than standard electricity in your area; any increases over time will be negotiated in advance and will be designed to be slower than the rising price of other forms of energy.
As Palmetto notes: "Before you sign a contract, it's critical to thoroughly review your lease terms and understand how the electricity the panels generate will impact your savings."
There are a few drawbacks. Since you aren't buying the solar panels yourself, you will have to pay for the energy, and you won't get the tax credits and other rebates available for buying solar panels. Also, if you move, it can be complicated to determine what happens to your contract. However, on the whole, these are minor downsides, especially if buying isn't a viable option.
There are many success stories out there that come from both people who have decided to buy and those who have decided to lease solar panels. If you ultimately decide that leasing from Palmetto isn't for you, you can always opt to purchase solar panels to install. EnergySage is a reliable online marketplace where you can find vetted local installers and compare quotes to get the best price.
Save $10,000 on solar panels — or get them on your roof without paying for purchase or installation Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's concierge advisors can help you save up to $10,000 on installation through a network of preferred installers. And if you'd rather get solar savings without upfront costs, Palmetto's revolutionary LightReach subscription program can deliver. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just answer a few basic questions about your home and connect with Palmetto's experts to find the option that's right for you. |
|
Which of these factors is the biggest obstacle preventing you from getting solar panels? Click your choice to see results and speak your mind. |
The upfront cost 💰 
Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
