Lease options eliminate upfront costs for installation, labor, and equipment. With a solar lease, you can enjoy immediate energy savings without the hefty price tag. You won’t have to worry about waiting until after your payback period has been met to truly gain energy savings from your solar installation.
In locations across the United States, solar lease options are helping new demographics of homeowners take advantage of using solar energy use. While you may only have seen them in more affluent neighborhoods before, solar installations are springing up in neighborhoods everywhere. The difference is that some homeowners choose to own their systems outright while others choose to lease.
A study performed by the United States Department of Energy's National Renewable Energy Laboratory found a correlation between owning a solar panel system outright and a household’s income. Neighborhoods with households averaging income of $150,000.00 or more each year have been found more likely to own solar panel systems outright.
The solar lease options are more popular in neighborhoods with lower household incomes. While the upfront cost to own a solar panel system might be out of the question for many households, solar leasing makes the solar power option a possibility. Choosing to lease a solar installation has opened the doors for many new homeowners to add solar panels to their homes and reap the benefits.