Congratulations on find the Solar Leasing Headquarters Official Website, where you can find all the information you’ll need to understand the often complex and misunderstood field of solar leases. This site is purely for educational purposes, to help you, the homeowner, figure out how to go solar. As former professionals in the solar field, we know how frustrating it can be to make sense of the information available online, so we’ve put together this website as a guide.
What is Solar Leasing?
A solar lease can be a wonderful thing for a homeowner who wants to go solar. You get immediate savings on your utility bills with b) no money down. How can you argue with that?
Essentially, in a solar leasing arrangement you don’t buy (or make payments to own) the solar array that goes on your roof. A solar leasing company simply leases the system to you (just like if you leased a car). They do all the hard work of installation, monitoring, insurances, cleaning, even guaranteeing power production.
The benefit of letting someone else install and own the system is that you see immediate financial savings on electricity with no money down. All you have to pay is a monthly lease payment, which can be fixed or change over the life of the agreement (usually 15-20 years).
The great part of having a fixed monthly lease payment is that you are protected from increases in the cost of energy for the life of the system. If the cost of the electricity sky-rockets, you don’t pay anything more then the lease payment you agreed to on day one. It’s sort of like insurance against the (guaranteed) increasing cost of energy.
Of course, to make sure that leasing a system works for you, you’ll have to understand the other options available and the total cost of the lease over the lifetime of the system.
Why Would I Want a Solar Panel Lease?
In some situations it may make more sense to buy the solar array instead of leasing it. As always, the devil is in the details: your power bill, the system size, and the number of years you’ll expect to live in the home are all important factors when deciding to lease or buy.
If you don’t plan to move over the next 15-20 years, purchasing the array may make more sense. That’s because you’ll accrue more savings over the life of the system if you own it.
Leasing a system can be slightly more ‘plug-and-play’ in that you don’t have to worry about any aspect of the system (like monitoring, production, cleaning, etc.).
What happens at the end of the Solar Lease?
After the 15-20 year lease is over you’ll have a few options. You can renew the lease on the system, have the solar company remove it, or buy out the system for the fair market value.
Where is Solar Leasing Available?
Solar leasing is available in many parts of the U.S. including California, Oregon, Arizona, Colorado, Texas, Pennsylvania, Massachusetts, and New Jersey.
The best way to find out if a local solar company offers solar leasing is to sign up for a free solar quote on Solar Leasing HQ.
What can I do besides a solar lease?
Leasing is not the only option. There is another arrangement, called a Power Purchase Agreement (PPA), that is often confused with a solar lease. In a PPA you don’t lease the system, you just pay for the power it produces.
Think of the solar company as an energy company. You let them install solar panels on your roof and they sell you cheaper power. The benefit here is similar to a lease, just without the lease payment. A PPA can make sense for a homeowner when there are immediate clear savings on the home’s monthly utility bill.