This solar installation option is making energy savings more accessible.
Solar panels are becoming increasingly popular and for good reason. Going solar can drastically reduce your monthly energy bill, increase the value of your home, and help you go energy-independent. Solar technology also helps lower planet-heating pollution by reducing our reliance on fossil fuels.
Although installation costs have dropped significantly over the past decade, the upfront cost of solar remains one of the main barriers to accessing energy savings. On average, solar panel installation costs around $29,000 before any incentives or credits.
If you're interested in solar but aren't quite ready to commit to the price tag, you're not out of luck — solar leasing is another option.
Here's what the energy experts at Palmetto consider "critical to understand" before you give leasing a go.
Solar leasing is like renting solar panels for your home. The U.S. Department of Energy describes it as "a type of lease specific to solar energy systems where the lessor owns the solar equipment and the customer rents it at a fixed monthly rate."
Think of it like a solar subscription — the solar leasing company owns and installs the panels while you pay a fixed monthly payment. Unlike subscriptions, however, solar leases aren't something you can just start and stop, and most leases last around 15 years.
Solar leasing is a great way to access the benefits of solar without breaking the bank. Leasing comes with little or no upfront cost and predictable monthly payments. And since the leasing company owns the panels, maintenance and its costs are usually covered.
Leasing may not be the best option for your home if you move around a lot. Since the solar company owns your panels, your system is not eligible for tax credits or rebates, and you potentially miss out on long-term system savings.
If you're curious about whether solar leasing is right for you, Palmetto is a good place to start.
|
If you were to install home solar panels, which of these factors would be your primary motivation?
Click your choice to see results and speak your mind. |
Energy independence âš¡ It offers a host of home energy resources to help homeowners get the best deal on their solar systems, like no-money-down installations.Â
Prefer to own your panels? EnergySage has a variety of tools available, like its solar cost calculators. With estimates on panel pricing and installation costs, side-by-side quote comparisons, and verified local installers, EnergySage makes the panel process easier than ever.
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
