About Home Solar Lease
You will not have to pay the high cost of solar panels, the installation, or for the equipment when you have a home solar lease or a power purchase agreement. You only pay a fixed amount monthly for the solar panel lease, use the electric that they generate instead of paying outright for the solar system. It is affordable, economical and the way more homeowners are going these days.
How Solar Lease Works
It is easy to get out of paying a large upfront cost for solar energy just by taking advantage of the lease options.
- Some companies, just to get the business, will purchase your solar system for you and install it on your roof.
- No upfront money is required; you then are set up with a low monthly payment that is fixed.
- Some companies then take care of the equipment for the next 20 years, just do your search.
Advantages of the Home Solar Lease
- With a home solar lease it is affordable, payments are flexible and you do not have to spend a lot of money upfront. If you have savings or tax returns you want to use, however, just pay more upfront which will lower your monthly payments.
- The best part is it is worry free. No worry about the installation, repairs, monitoring or regular maintenance.
- The Home Solar Lease has a low fixed cost monthly payment that is very affordable.
- The electric bill is again affordable and if you produce more electric than you use you can sell back to the utility.
Power Purchase Agreement
An easier way to purchase, then the Home Solar Lease, is the Power Purchase Agreement (PPA). With this system of payment you do not have to buy inverters, pay for installation, repairs or the solar panels
themselves. The PPA instead has you pay only for the electricity the panels generate. If you then want to upgrade to solar power the PPA is the most affordable and economical way to go.
How the Solar Power Panel PPA Works vs. the Home Solar Lease
- Solar company purchases the solar system for you and installs it on your roof.
- The Company takes complete control over the care & maintenance of the equipment for the next 20 years.
- You pay minimal or nothing upfront and then pay a fixed rate on what your solar panels produce.
Solar PPA Advantages
- Pay more money upfront and pay even lower monthly electric payments.
- Monitoring, repairs, maintenance and installation are all taken care of.
- You just pay for what your solar panel system produces.
Homeowners, until just recently, that wanted to go solar had to buy the expensive solar system that costing anywhere from $16,000 to $60,000. They now have 2 options – PPA or Home Solar Leasing.
Here Are the Differences:
Home Solar Lease: Fixed amount is paid every month for your solar panel system regardless of how much energy the solar panel system produces. You pay the same each month, regardless of how much energy your panels produce.
Power Purchase Agreement: Payment rate is paid only for the electricity your solar panels manufacture.