VIEWS: 14 PAGES: 1 POSTED ON: 8/2/2012
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 most. 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.
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