One of your best options for lowering your utility bills is to install solar panels. With energy prices seemingly always on the rise, it never hurts to lock in a lower price or even start generating your own cheap electricity — not to mention get independence from the grid.
When you install solar panels, you have several options regarding how to do it.
You can buy and own your own panels, or sign up for a solar lease, such as Palmetto's LightReach solar subscription program. If you do buy your own, you can pay for them up front or take out a loan.
Each of these options offers its own benefits, making them ideal for different circumstances. The right fit for you depends on many factors, including your preferences, finances, and your home's characteristics.
If you buy your solar panels outright with your own money up front, you can expect the greatest long-term savings. You'll get direct access to any solar tax credits available in your state to subsidize your purchase, and all of the energy you generate will go directly to you at no charge to supply your needs. With battery storage, you might not even have to pay for electricity from the grid.
In many areas, when you own your solar panels, you can sell excess energy back to your utility provider, offering a small source of passive income.
If you take out a loan to pay for your solar panels, you'll receive many of the same benefits. It will be a little longer before you own the panels outright — around seven to 24 years if you borrow through the aforementioned company Palmetto — but you'll be able to start with no money down, making this a more accessible option for many households.
Leasing your solar panels means you won't own them unless you decide to buy out the lease later on. However, you will pay a predetermined rate that insulates you from fluctuations in the market. A lease of this kind can last for 20 to 25 years.
Get $1,000 cash to slash your bills with rooftop solar panels for $0 down and low monthly payments Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's 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 — including an exclusive $1,000 cashback offer for TCD readers. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings of up to 33% off your current power bill. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just book a short meeting with Palmetto's experts to explore your options and find the solution that's right for you. |
Since you don't own the panels, you're not responsible for maintenance and repairs; the provider is. In the event of a disaster, you won't have to pay for a replacement either.
To help fund your home electrification, check out the free Palmetto Home app. It offers a simple way to unlock up to $5,000 in rewards by completing challenges, which you can then use to upgrade your home's energy efficiency and save more money.
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Which of these savings plans for rooftop solar panels would be most appealing for you?
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