Just How Affordable is Solar?
Posted on 17. Nov, 2009 by OneRoof Energy in Latest Solar News
For many of us who would like to install solar, but can’t justify (or can’t afford) the $30,000 or $40,000 up-front cost, there’s another option. It works much a car lease, and allows you to install a solar system on your home or business with just a small up-front investment, usually just a couple thousand dollars or less. You then just make a monthly lease payment for the use of the system. The goal is simple, your monthly lease payment plus your new, lower electric bill should be less than your electric bill before you installed solar. It’s a win-win; a small down payment, and immediate savings on your electric bill. Many very smart companies like Wal-Mart, Staples and Whole Foods discovered several years ago that this approach makes a lot of sense, and now nearly 90% of the businesses that install solar do so using an agreement similar to a lease, called a power purchase agreement. Fortunately, homeowners can also take advantage of this low-cost way to go solar. Several companies are offering these programs in California and elsewhere, and its making solar more affordable for thousands of homeowners.