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.
Image Credit: Flickr – a_siegel