For many homeowners, going solar is one of the smartest ways to reduce long-term energy costs and lower planet-heating pollution. However, the upfront cost of installing solar panels can be a dealbreaker. Thankfully, one lesser-known option could make solar power accessible to more people: leasing.
A video posted by YouTube creator Solar Works Energy explains how solar panel leases and power purchase agreements (PPAs) work, and why they're worth considering for families looking to switch to clean energy.
The scoop
"So, what is all this solar leasing and PPA stuff about?" the narrator asks in the video from Solar Works Energy (@solarworksenergy982).
The answer lies in third-party ownership. "You don't actually own the solar panels," he explained. "A third party, usually a large financial institution, will actually pay for all of the upfront costs … and you'll just make low monthly payments."
"This can be very advantageous for a lot of people," he added. "This could be a great option for somebody who doesn't want to take a loan out."
Even without owning the panels, you can still enjoy lower electric bills by paying less than what your utility charges.
How it's helping
Leasing makes solar more financially accessible, especially for families that may not have the cash or credit to cover installation. Since these systems still utilize solar power, they help reduce demand on the grid, cut monthly bills, and decrease household reliance on dirty fuels.
Plus, homes powered by solar emit less carbon pollution, which helps slow down the warming climate and reduces pollution from traditional power plants.
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. |
What everyone's saying
While some people worry about transferring leases during home sales, the video notes that systems can be transferred as long as the new owner qualifies. That's why it encourages consulting with a local expert before signing and finding the right program for your home and budget.
Palmetto offers a straightforward leasing option called LightReach, which helps families go solar with no upfront costs. The company's local plans can make renewable energy more affordable for many households.
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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 💰 Leasing isn't for everyone, and that's OK. If you want to explore buying your own panels instead, EnergySage has free tools to compare quotes from vetted installers.
Still unsure which route to take? Check out this helpful Palmetto guide that breaks down the pros and cons of leasing versus owning solar panels.
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