Rising electricity costs and high upfront solar panel prices can make going solar feel out of reach for many people. Solar leasing plans offer a smart workaround. According to home improvement experts from Palmetto, "homeowners still have options for going solar that can reduce their energy bills and give them greater independence from their utility," and leasing is a great example of that.
The scoop
A solar lease is essentially a rental agreement for a solar panel system. After designing your system and having it installed, "homeowners typically receive all of the energy generation produced by the panels, while the solar company owns and maintains the equipment," Palmetto's experts explain. While the solar company does all the heavy lifting of installation and maintenance, you make predictable monthly payments over a set term, often 20 to 25 years.
Palmetto's LightReach Energy Plan is one leasing option that offers no-money-down programs, flexible terms, and a buyout option after five years. Customers also get proactive system monitoring, maintenance, and protection, as well as finding state-specific programs and tailored support for where they live.
How it's helping
One of the biggest perks of a solar lease is its financial flexibility. Homeowners can access solar energy without a major cash outlay, avoiding loans or upfront purchase costs. For many, this makes the switch to renewable energy feasible and more approachable.
Over time, solar systems can reduce and even replace your monthly electric bills. "The exact amount of money solar panel leasing can save you per month depends on the electricity rates in your area, as well as the energy demand on your property," Palmetto's experts say.
Beyond finances, solar leases help reduce greenhouse gas pollution. Using solar panels instead of grid electricity reduces pollution that drives global warming, benefiting both your wallet and the planet.
What everyone's saying
When weighing the pros and cons to decide between leasing and buying, homeowners who lease appreciate the convenience and low risk. Reviews often note the simplicity of maintenance and the clarity of fixed monthly payments. Some also value the option to buy the system later or transfer the lease when selling a home.
The trade-off is that leased panels typically deliver lower long-term savings than owning them outright, but for many, avoiding upfront costs is a game changer. "Still, solar leases can often save you money compared to traditional electric bills," Palmetto's experts note.
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. |
If leasing isn't right for you or you're leaning toward buying panels, EnergySage offers free tools that make it easy to get estimates and compare quotes for purchasing and installing panels.
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If you don't have solar panels on your home, which of these factors is the biggest barrier to installing them? Click your choice to see results and speak your mind. |
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