Now, more than ever, homeowners are opting to lease solar panels for their rooftops rather than directly purchasing a system. System installations are estimated to rise by more than 50% this year and by an additional 38% in 2014. In the past, solar panels were strictly a means to reduce carbon emissions. However, with the rapidly decreasing costs of production and installation, solar systems have transformed into an instrument to lower monthly electricity bills and increase savings. Instead of being subjected to the whims of utility companies, homeowners now have an affordable alternative to utility.
In the past year, 91% of system installations were financed through leasing programs. Homeowners are finding that signing a 20-year solar lease is simply an intelligent financial decision.
“The leases save homeowners about 20-40% with absolutely no payment down. It’s basically free money. I don’t know why anyone wouldn’t want to do it,” explains Vaha Energy’s Chief Operating Director, Gaye Tomlinson.
Through Vaha Energy’s diverse range of leasing programs, homeowners have several options. Individuals can choose to put absolutely nothing down and receive cheaper energy for the next twenty years. Alternatively, homeowners can also choose to pay a small upfront fee and lock their rates for the duration of the lease, without worrying about price fluctuations.
Solar leasing programs, to put it plainly, are a smart means to save on electricity bills. For no costs, homeowners can save thousands and hedge against utility rate hikes. Word of this financial opportunity is spreading and solar leases are expected to maintain nationwide growth.