Leasing Solar Energy Systems Makes Good Sense
Experts are heralding the emergent solar power systems leasing trend as a
breakthrough that will lead to exponential industry growth. According to
an article published by Sustainable Business, the availability nationwide
of solar equipment leasing 'opens solar to 13 million Americans - and
that could push solar energy into the mainstream.'
Leasing solar power systems minimizes the upfront costs that can be
prohibitive to many homeowners, enabling more Americans to experience all
the advantages of renewable energy without depleting their bank accounts.
They can enjoy the savings of solar over traditional grid electricity in
the very first month of service. In contrast, consumers who purchase
solar power systems outright may have to wait as much as a decade to
recoup their initial expenditures through energy savings. According to
Mother Earth News, consumers purchasing average to large sized solar
power systems for their homes can expect to pay about $50,000.
Because solar technology is rapidly developing, leasing equipment is a
smart option from a practical standpoint too. As new innovations offer
consumers better technology and additional savings, they can upgrade
their leased equipment and not worry about incurring losses on their
outmoded solar components.
As originally conceived by a California solar company in 2007, solar
equipment leasing gave customers the option to pay a fixed monthly fee
for their rental or pay only for the power generated by their leased
equipment. With more and more solar providers fine-tuning their own
programs, they focus on making the solar conversion as easy as possible
for their customers.
Since many government subsidies for solar installations expired at the
conclusion of 2011, both residential and commercial energy users are
looking for new ways to save on renewable energy. Companies set up to
lease solar power systems are positioned for significant growth.
For emergent markets outside the U.S., equipment leasing represents an
unprecedented opportunity. The chance to obtain commercial and
residential solar power systems without the necessity of purchasing
equipment makes renewable energy accessible to those who can benefit the
Since the development of the leasing trend in California, younger
homeowners in a lower income bracket than those who have already
purchased their renewable energy systems are converting to solar power.
Science Direct reports that 'third-party [leased] PV products are likely
increasing total PV demand rather than gaining market share entirely at
the expense of existing customer owned PV demand.' In other words, the
availability of solar power systems for lease is opening exciting new
vistas for the renewable energy revolution.