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Top 3 Reasons You Don’t Need To Buy Solar Panels

Top 3 Reasons You Don’t Need To Buy Solar Panels

It’s getting more expensive to both heat and cool a home, and power all the gadgets and appliances that we need to stay comfortable and connected.

Lots of people advocate investing in renewable energy systems like solar panels or geothermal energy to supplement dependency on traditional utilities that generate power with fossil fuels.

I say, forget about it…buying solar panels is for the birds. There’s no reason to make that big investment just to save a few hundred dollars a year on your energy bills.

I say, why not rent instead?

Solar leasing is a popular new concept that’s making it possible for homeowners to take advantage of alternative forms of energy decades sooner than they would if they had to pay for it all upfront.

Here are the top 3 reasons why you can’t afford not to consider a solar lease:

1. No Big Investment

The most expensive part of utilizing solar power for your home is the cost of purchasing the panels and having them installed. When you choose to lease your solar system instead of purchasing, you are only borrowing the equipment, similar to a car lease. If your home is right for solar power, the company usually collects a deposit and you sign an agreement ranging from 10-20 years. In some cases, depending on local solar incentives, the provider may not require any money from you.

2. No Maintenance Costs

Most solar leasing agreements include free maintenance and repair, which keeps even more money in your pocket. Instead of cringing every time there’s heavy rain, snow, or wind, you’ll have peace of mind knowing that the installation is responsible for keeping your system up and running.

3. Big Savings

Depending on where you live and the quality of the system you choose, installing solar panels on your roof can save you between 5 and 25 percent on your monthly utility bills. Since the average cost of renting a solar energy system is around $50/month, this means some homeowners actually profit off of their system! Not only will you be saving money, you’ll be helping to pump extra renewable energy back into the community grid.

Bonus! Even if you don’t own a roof, you can still benefit from the expansion of solar energy in your community. Check out the crowd-sourced solar leasing programs offered by Solar Mosaic to learn more.

Also Check Out:
Pentagon Can’t Buy Chinese Solar Panels
Popemobile Could be Solar-Powered
Ikea Goes Geothermal
Harvest Rain with Solar Power

Image Credit: Flickr – a_siegel

Read more: Conservation, Green, Home, Technology, , , , , ,

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Beth Buczynski

Beth is a freelance writer and editor living in the Rocky Mountain West. So far, Beth has lived in or near three major U.S. mountain ranges, and is passionate about protecting the important ecosystems they represent. Follow Beth on Twitter as @ecosphericblog or check out her blog.

41 comments

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5:20PM PST on Dec 15, 2012

Solar panel leasing can be profitable and it's a way to reduce carbon emissions by not spending much money out of pocket. If I had a house I would consider this.

8:18PM PDT on Jun 19, 2012

Thanks

8:42AM PDT on Jun 18, 2012

Thank you

11:39AM PDT on Sep 5, 2011

Genius!!! Love this idea.

11:24AM PDT on Jul 29, 2011

And do they use micro inverters or a central inverter. With a micro inverter you have no dangerous high voltage dc coming into your house, no single point failure problem, and since each one or two panels has it's own inverter there is no running at the lowest common wattage. Oh and to boot you can monitor the system and see just how much carbon you have offset and of course show it to your friends.

8:32AM PDT on Jul 9, 2011

I'd rather just save up the money and purchase the system rather than renting. I avoid renting whenever possible, as it's always a waste of money. Why put money into something and get nothing out of it when in the long term you could have had you saved up to buy it? I'd rather keep all the money in my own pockets and reap the benefits, even if that means saving for a long time, rather than line the pockets of others.

8:51AM PDT on Jul 7, 2011

What a great advertisment. looks like an artical but far from it. I recently looked into getting solar shingles put on my roof. I could only lease them. that did not set well with me. It would have been easy for me to have them installed because I was having to replace my roof any how.

8:55AM PDT on Jul 4, 2011

hmmmm --- kinda wish I'd known about leasing programs before I bought mine. still I'm glad I've got them.

and - I do have one point of contention with the article. so far from 5 - 25% of savings on my bill, I'm saving 100% [in the summer -- when AC is in use - in Florida] AND pumping energy into the grid.
the company charges me $10.48 per month simply for being a customer. that is my entire bill -- as opposed to $192+ per month prior to installation of the panels.

after the rebate [assuming it ever arrives -- it hasn't yet], the cost will be about $20,000. yes, that IS chunk of change -- but, at $182 savings per month, they will be paid for in about 9 years -- not to mention the check I receive from the company for the energy they buy from me - which will cut the time further. and the warranty lasts for 25.
where's the downside?

11:57AM PDT on Jul 1, 2011

I would love to rent and have inquired but no one is doing this in my area in the Midwest.

1:38PM PDT on Jun 30, 2011

Thank you for the information, did not know that one could rent solar panels.

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Disclaimer: The views expressed above are solely those of the author and may not reflect those of
Care2, Inc., its employees or advertisers.

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