Tuesday, October 18, 2011

Lease Solar Panels for Fraction of Cost in California

This really looks a best way to go solar in California, leasing solar panels with down payment and they will be installed for free.

As many people can not afford to buy their own solar panels for home, so leasing solar panels looks the best solution. You don’t have to pay any money for purchasing solar panel or for installation. All you have to do is only that every month you have to pay its fee, its same like as you get other things like motor vehicle on lease and then every month you pay certain amount for that.

In California free solar panel leasing program is started. According to this program customers will only pay a monthly fee and get lower utility bills. Ownership of the photovoltaic panels will be retained by the SolarCity.

Generally if a person’s home power demand is 2.8 kilowatt, then he approximately will be having monthly electric bill around $150 but after installing solar panel it will cost $60 a month and $80 to $90 monthly lease payment to Solar City. So at end of month you probably can have $10 saving.

Solar City was founded in 2006 and is chaired by Elon Musk who also chairs the Telsa Motors.

The solar panels installed by the company will charge you a set price for 10 to 15 years worth of service during that time period they will handle all maintenance and repairs also. Though you will still pay the electric bill but with the solar panels generating electricity it will get much lower. And if your panel will be producing more electricity than your use, it’s fed back to grid and for that electric company pays you also.

Let’s say if because of solar panels you get 10 to 20% saving on the life of solar panels then at the end of lease time you probably will be having the amount to pay off the panels. After that point with panels still generating power, you may not have an electric bill anymore.


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