DIY Residential Solar Panels
Residential Solar Lease – Final Decision is Yours
Do you dream of feeding your home with clean, renewable solar energy, but find the cost of solar panels intimidating? Consider a residential solar lease!
A residential solar lease is a relatively new concept, but that is quickly gaining in popularity. Typically, owners sign a contract with a lease of land 10, 15 or 20 years. The company installed solar panels on his house and is responsible for maintenance or repairs required during the term of the lease. In return, the owner has a fixed monthly fee (solar lease), agrees to purchase the energy produced by the system for a fixed price per kilowatt-hour (agreement to purchase solar energy, or PPA). When a solar lease ends, the owners may be able to upgrade your computer (if necessary) and the renewal of the lease, or terminate the contract and remove the solar panels at no cost.
There are advantages and disadvantages of leasing contracts residential solar power to homeowners. Read on to decide whether residential solar leasing is right for you!
Positive Side of Residential Solar Lease
For many homeowners, the biggest advantage of solar residential rental cost is the elimination of the initial purchase and installation of a solar energy system. As the cost of a typical system of about $ 20 to 40,000, this can mean substantial savings for the owners in advance. In addition, owners who choose to residential leases are able to start benefiting from savings on their utility bills immediately, while owners who buy their own solar panels may have to wait seven years or more before the system pay for itself.
Other financial benefits of residential solar leasing your savings can grow over time. In recent years, utility costs have increased an average of 5% per year. Depending on the terms of its solar lease, you may be able to lock your power rates permanently to a slower pace, while the neighbors without solar leases continue to pay higher rates every year.
Some owners also appreciate the tranquility of residential solar lease for ever, because the solar leasing company oversees the operation of solar panels and repairing damage to the unit at no additional cost to the owner. The solar leasing companies also perform routine maintenance on leased solar panels, which, though difficult, is especially valuable for owners with physical disabilities that prevent them from maintaining the panels themselves, or who cannot or will not otherwise.
Negative Side of Residential Solar Lease
For many homeowners, the biggest disadvantage of leasing of residential lots, in fact, that simply replaces your utility for the solar leasing company. Although it is likely to see immediate savings on their utility bills and the savings can increase over time, which still rely on an outside company for power. If you buy your own solar panels, further, that any power generated by the panels after they have paid for themselves is essentially free, and if you participate in solar lease programs to measure the local network, you can do a profit, even his family! Either way, owning your own solar panels, it is proposed to real energy independence for the entire life of the panels.
Thanks to an increasing variety of local and federal tax incentives and other financing options, but may also be possible to compensate for a substantial percentage of the initial cost of a solar energy system, reducing the time required for the payment system and reduce at least the high initial costs are a major reason why many homeowners to choose solar residential tenancy in the first place.
Another disadvantage of leases of residential solar energy by some owners is the long contract period. If you decide to move before his contract is up, you may need to transfer the lease to the new owner, or buy the lease and the increased cost of the house. If you own your own solar panels, the value of your home will also increase (an average of more than $ 20 for every $ 1 in annual electricity savings, according to a study by the Appraisal Institute), but not the solar leasing company, is the beneficiary of this increase.
Residential solar leasing can be a great way for homeowners who want to save money and be more environmentally friendly cost, high initial purchase of a solar power system to benefit from clean, renewable solar energy, but not all. Be sure to weigh the advantages and disadvantages before making a decision.
A residential solar lease is a relatively new concept, but that is quickly gaining in popularity. Typically, owners sign a contract with a lease of land 10, 15 or 20 years. The company installed solar panels on his house and is responsible for maintenance or repairs required during the term of the lease. In return, the owner has a fixed monthly fee (solar lease), agrees to purchase the energy produced by the system for a fixed price per kilowatt-hour (agreement to purchase solar energy, or PPA). When a solar lease ends, the owners may be able to upgrade your computer (if necessary) and the renewal of the lease, or terminate the contract and remove the solar panels at no cost.
There are advantages and disadvantages of leasing contracts residential solar power to homeowners. Read on to decide whether residential solar leasing is right for you!
Positive Side of Residential Solar Lease
For many homeowners, the biggest advantage of solar residential rental cost is the elimination of the initial purchase and installation of a solar energy system. As the cost of a typical system of about $ 20 to 40,000, this can mean substantial savings for the owners in advance. In addition, owners who choose to residential leases are able to start benefiting from savings on their utility bills immediately, while owners who buy their own solar panels may have to wait seven years or more before the system pay for itself.
Other financial benefits of residential solar leasing your savings can grow over time. In recent years, utility costs have increased an average of 5% per year. Depending on the terms of its solar lease, you may be able to lock your power rates permanently to a slower pace, while the neighbors without solar leases continue to pay higher rates every year.
Some owners also appreciate the tranquility of residential solar lease for ever, because the solar leasing company oversees the operation of solar panels and repairing damage to the unit at no additional cost to the owner. The solar leasing companies also perform routine maintenance on leased solar panels, which, though difficult, is especially valuable for owners with physical disabilities that prevent them from maintaining the panels themselves, or who cannot or will not otherwise.
Negative Side of Residential Solar Lease
For many homeowners, the biggest disadvantage of leasing of residential lots, in fact, that simply replaces your utility for the solar leasing company. Although it is likely to see immediate savings on their utility bills and the savings can increase over time, which still rely on an outside company for power. If you buy your own solar panels, further, that any power generated by the panels after they have paid for themselves is essentially free, and if you participate in solar lease programs to measure the local network, you can do a profit, even his family! Either way, owning your own solar panels, it is proposed to real energy independence for the entire life of the panels.
Thanks to an increasing variety of local and federal tax incentives and other financing options, but may also be possible to compensate for a substantial percentage of the initial cost of a solar energy system, reducing the time required for the payment system and reduce at least the high initial costs are a major reason why many homeowners to choose solar residential tenancy in the first place.
Another disadvantage of leases of residential solar energy by some owners is the long contract period. If you decide to move before his contract is up, you may need to transfer the lease to the new owner, or buy the lease and the increased cost of the house. If you own your own solar panels, the value of your home will also increase (an average of more than $ 20 for every $ 1 in annual electricity savings, according to a study by the Appraisal Institute), but not the solar leasing company, is the beneficiary of this increase.
Residential solar leasing can be a great way for homeowners who want to save money and be more environmentally friendly cost, high initial purchase of a solar power system to benefit from clean, renewable solar energy, but not all. Be sure to weigh the advantages and disadvantages before making a decision.
