Why a Solar Lease may be your best choice in 10 ways!
#1 No Upfront Costs
In many cases, home solar leases require no upfront financial commitment. If you meet the eligibility requirements, your solar energy provider will install your system at no cost to you.
#2 Lower Monthly Energy Bills
Your monthly energy payment might be 30% less than what you are presently paying, and it will be locked in for the length of the lease, up to 25 years. Pre-pay options can help you save even more money on your monthly bill.
#3 Saving the Earth
Aside from financial benefits, a home solar power system contributes to environmental preservation. Rooftop solar generates no greenhouse gas emissions. Over the span of 25 years, the average system will be equivalent to 300 trees planted, offsetting CO2 emissions. Offset 500 barrels of oil from being burned. Lastly, be the equivalent of 200 forest acres preserved.
#4 No Installation Fees
Your solar energy company handles all installation-related issues with a lease, such as design, permits, and inspection, to name a few. You just save money!
#5 System Monitoring
Solar energy providers keep track of the performance of your system. They profit from the energy generated by your system. It is in their best interest to always make sure your system is working.
#6 No System Maintenance
The solar power company is responsible for maintenance in the event of performance concerns, warranty issues, or damage; they own the system. They are fully responsible for it.
#7 Free Insurance Coverage
Your solar provider will guarantee your home solar system against damage or theft. They safeguard their own investments.
#8 No Paperwork
It's just like the sign-and-drive days! A home solar system installation can be complicated by a maze of paperwork. Consider rebates, incentives, taxes, permitting, and utility company restrictions. All of those aspects are handled for you with a lease.
#9 You Don't Need to Worry About the Tax Credit
The federal tax credit of 30% is a dollar-for-dollar credit applied to your tax return. You will not be able to claim this credit since the solar company will own the system. This is a big benefit to several people because 60% of Americans cannot claim the full tax credit in the first year. With an outright purchase, your payment can jump if you do not apply it back to the loan. With a lease, the solar company claims the tax credit and applies that automatically to the price of your lease to keep it low.
#10 Latest and Greatest Equipment
The solar power provider has a financial interest in your solar power installation. They will be better off if your system functions properly. A solar power lease guarantees that you will receive the most up-to-date, high-performance system available.