North Carolinians will soon have a cheaper way to tap cleaner solar energy thanks to an agreement that includes a Colorado company.
As part of the deal, Colorado's Spruce Power is working with Carolina's EnerWealth Solutions, a solar development business, to offer panel and battery storage leasing in the state. Spruce is the owner and operator of distributed solar energy assets across the country, according to a news release.
For customers, the result is a way to participate in so-called "solar plus" storage without the upfront costs needed to buy the cleaner technology. There's also typically no maintenance or end-of-lease panel removal concerns with the contracts, according to Palmetto, another North Carolina company that offers leases.
"We believe solar energy should be accessible and affordable to all and are committed to bringing clean energy opportunities to homeowners through our offering of the first solar plus storage lease in North Carolina. We appreciate that Spruce Power customized a servicing solution to meet our needs," EnerWealth CEO Ajulo Othow said in the statement.
Batteries provide stored electricity for later use, and even to charge electric vehicles. Customers can even sell it back to the grid, depending on plans and programs available in the area, and the lease agreement.
Leasing is also a great way to limit the electricity needed from dirty fuels that cause planet-warming air pollution. NASA has linked the gases to greater risks for extreme heat that could soon leave some places uninhabitable.
It's all good news for energy-savvy Tar Heel homeowners, as well as for the industry as a whole. Federal solar tax incentives expire at the end of the year, but Investing.com reported that Spruce was enjoying solid stock market performance earlier this month when the partnership with EnerWealth was announced.
It's also important for customers to understand the benefits of both leasing and buying. EnergySage said that an array can cost around $30,000 on average, before credits. EnergySage is a free online resource that can help customers compare quotes, find the right installer, and secure all the rebates before they are gone. Fast action can save up to $10,000 when buying a system.
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. |
Palmetto — in the business for more than 16 years — has a great guide that lists pros and cons for leasing and buying. It offers leases through LightReach and has more than 500,000 accounts. It's important to know your options to make the best decision. If you plan on selling your home soon, leasing likely isn't the best option, for example.
In North Carolina, Spruce "will deliver the operational infrastructure that enables EnerWealth to scale rapidly while maintaining exceptional homeowner experiences," according to the release.
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Upfront costs 💰 Billing, collections, support, and remote monitoring are all part of Spruce's expertise, proved by having managed 145,000 "residential solar assets" around the country, the statement continued.
"The agreement is a great example of how our strength in servicing reduces project risk and helps secure financial backing for project development," Spruce CEO Chris Hayes said.
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