Can’t Afford to Buy Solar Panels? Consider Leasing

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The green brigades all over the world love to recommend green energy options which are cleaner, and in the long run, cheaper too. Still it may not be cheaper to create the infrastructure to avail green energy.

Solar energy is cheaper to use but installing a solar panel is definitely not cheap. The initial expenses can run anywhere from $20,000 and go as high as $50,000, and this is after the local subsidies and incentives.  For many who would like to use solar energy, the initial cost of putting up the infrastructure can be quite daunting and in some cases the reason why they don’t go ahead with it.

solar panels

The people who can’t afford to buy these panels outright would only be too happy to lease them at reasonable prices. Many companies have realized this and are prepared to help people to get these panels on a long lease.

SolarCity is one such company. They pay for the complete installation of the solar system at the premises. The person then pays them a monthly installment over a long period to help repay the cost incurred. The lease is designed in a manner where the monthly cost is much less than the current monthly expenses incurred for electricity charges. In case there is any need for extra energy, for example when the batteries don’t charge or at night, the normal electricity can then be used.

It is the perfect solution where all parties concerned are at an advantage. SolarCity rakes in profits in the form of the lucrative public subsidies and tax credits while you pay less for energy charges. The environment is happier and cleaner as most of the energy used by you will now be from a cleaner option.

Wall Street Journal recently carried an article which spoke about one of the success stories of this perfect solution. It speaks about a retired teacher and his wife from Arizona. They had a solar panel installed earlier in the year and it is now helping them save one third off their energy bills every month.

Their average monthly utility bills were around $130. Now they pay $68 to Solarcity as their monthly installment and another $15-$20 as utility bill for the extra energy that they use. This clearly shows that they are saving almost a third on their energy costs.

Installing solar panels and related infrastructure equipments with the help of companies that let you lease them is definitely the best way to make them affordable. It is the best option to bring greener options closer to affordability.

Filed Under: Alternative Energy

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