If you’ve ever looked into buying solar panels or photovoltaics for your house you know how much it cost. It can be anywhere from twenty to thirty thousand dollars for a typical home. What if you could instead lease a solar system for little or no money down? That’s what some companies are doing now and it seems to be catching on. Two I’ve discovered lately that do this are Citizenre and SolarCity. Basically it’s like renting a car, but with much longer leases, you pay very little down to get the system, and you pay them a monthly rent. You are protected from utility price hikes because the cost of the solar doesn’t change and you save money over what you’d be paying without solar panels. You also don’t have to worry about maintenance if anything goes wrong, these companies cover that for you.
One thing I noticed is that neither company seems to mention the generous incentives homeowners get if they buy their own system. According to American Solar Electric’s site a 22,478 dollar system only costs 9,878 dollars after APS/SRP rebates, and Federal and State tax incentives. Depending on the financing you can get this might be the better solution. Of course if anything goes wrong with the system or a much better cheaper form of energy comes out you are stuck with those solar panels and out a lot of money. If like me you live in a location that isn’t served by SRP or APS leasing sounds like it might be a great option to save money and the environment.
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