Solar Leasing Guide: Simply Explained in 4 Steps
If you’re considering solar energy for your home, you’re likely exploring the best way to finance your solar system. Two of the most popular options are solar leasing and solar ownership.
A solar energy system lease is a financial agreement with a solar energy company, where you agree to pay a fixed monthly amount to receive the energy produced by the solar panels on your property.
In this blog, we’ll dive into how solar leasing works, from signing the agreement to what happens at the end of the lease term.
1. Solar Agreement Terms
When you lease a solar energy system, you enter into an agreement with a solar provider for a fixed term, typically between 15 and 25 years. Rather than purchasing the solar system outright, you make regular, fixed monthly payments to the leasing company.
2. Solar Project
Once you sign your solar lease agreement, the solar energy company takes care of everything related to the solar project. The provider will assess your property, handle the permits, and install the solar panels for you.
3. Solar Energy Savings
Leasing a solar system allows you to reduce your electricity bills without owning the system. The solar panels generate energy for your home, cutting down the amount of electricity you need to purchase from the utility company.
4. End of Solar Lease
At the end of your solar lease, you may be able to buy the panels from your energy company. If you don’t want to purchase the solar system, you can opt to have the solar panels removed. The solar installer will handle the removal process, and you could transition out of the lease without any hassle.
Conclusion
Solar leasing is a great option for homeowners who want to save on energy costs without the initial investment of purchasing a solar system.
At the end of the lease, you can either take ownership of the solar system or have it removed, providing you with flexibility in how you choose to move forward with your energy needs.
Ready to explore solar leasing for your home? Contact Pinnacle Exteriors at (484) 350-6829 for a FREE assessment and learn more about how solar energy can benefit you!
