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Leasing Low Cost Solar Power Now an Option for Homeowners

February 3, 2010 | Leave a Comment

Posted by: k daniel

A new financing plan called a residential solar lease, may make going solar affordable by bypassing the high initial cost of installing a system. Popular in California, the world’s third largest solar-power market, twice as many people filed for solar power permits in 2009 than in 2008, much of the demand driven by solar leasing. Solar City, a Silicon Valley pioneer in residential solar leases, offers a no-money-down, low-monthly plan. Instead of investing from $20,000 to $50,000 to purchase and install a rooftop solar array, you can lease one for around $100 a month with the option of extending your lease or buying the panels at the end of your contract. SolarCity says customers can typically expect to start shaving 15% off their electricity bill from day one, and to see increased savings as standard electricity costs continue to rise.

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