Installing solar panels is a doable hack for many homeowners, either via lease or purchase. But getting access to them for free is a tougher one to swing.
The scoop
For one new homeowner, though, it was their lucky day. They posted about the situation on the r/solar subreddit and were looking for advice.
When they bought their new house, they found out that its solar panels were completely paid for. They called it a "nightmare" to uncover the exact arrangement. With some sleuthing, they discovered that the panels' entire 25-year lease was prepaid, but the panels themselves were still the property of the leasing company.
That spurred questions from them, including what they were getting themselves into, and most importantly: "Do I get the use of these panels for free for the next 20+ years (4 years into the lease)?"
They noted that the company had already done maintenance on a faulty part.
The Reddit community was quick to alert them to their good fortune.
"If it's a pre-paid lease, you don't have anything to worry about," a commenter replied. They elaborated that the leasing company would cover maintenance throughout, and the OP had "everything to gain and nothing to lose on this solar deal."
That's outstanding news for the OP. Going solar is one of the easiest ways to save money on your energy bills. By generating your own clean energy, you'll also lower your household's contribution to planet-heating pollution.
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. |
Buying solar panels outright can be prohibitively expensive for many households. While not every homeowner can land a sweet deal like the OP, leasing does provide a different avenue to tap into solar. Palmetto's LightReach program is a prime option for homeowners looking to minimize upfront costs to as little as no money down.
How it's helping
Leasing options like Palmetto facilitate more solar energy and less reliance on dirty energy. That is also good news for the grid, as it provides a more resilient and varied energy mix.
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What's the biggest concern you'd have about getting solar panels? Click your choice to see results and speak your mind. |
The cost 💰 Of course, homeowners can score major savings through solar. For the OP, they hit the jackpot in getting solar without having to contribute any of their own money upfront or on an ongoing basis. The only downside is that they have to leave the setup as is if they were looking to expand on it.
For households with the resources to buy their own panels or expand on what they have, owning outright could be preferable to a lease. EnergySage is a great partner for homeowners in that boat, with free tools to get estimates on purchasing and installing solar panels from trusted installers.
If the decision to buy or lease is tricky, this pros and cons list can help add clarity.
What everyone's saying
Redditors were excited for the OP.
"THAT'S THE DREAM," one user excitedly opined. "Prepaid means you will never owe anything…but it will still be completely covered and guaranteed."
"Sounds like you got yourself into free electricity for 20 years," another user wrote.
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