Residential Solar Lease

With a residential solar lease, you don’t have to make a long term commitment. Perhaps you don’t know how long you will stay in your current location. Maybe you are skeptical that the value of solar power is just too good to be true. The big barrier to buying such a system for you could be the cost. Whatever the reason may be that you aren’t ready to buy, leasing is a very enticing alternative.

This process is one that the providers have made very simple for the consumer. They do all the installing and any repairs. They often offer very low first month fees or they will do the installation for nothing down and the first month is free. They often try to allow the consumer to see one full month of value and savings before they have to pay for the lease.

The exact terms of the contact between the provider and the consumer will depend on the provider and what they offer. It is very important to explore the options you have before you jump right in. You want to find out what providers you may have in your area that offer such leasing programs. Then you can evaluate them closely to see which offers you the best overall deal for your needs.

The lease time frames can last anywhere from 1 year to 25 years. For those that are renting property, it will be necessary to get the written consent of the landlord before the solar panels can be installed. Most landlords though will be very impressed with the idea. They know that if the renter has less expenses such as for their electric bill, they are less likely to default on the rent that is due each month.

For those that are buying their home, they can go with a longer contract period if they like. Should they decide to sell their home, they can end the contract early in most cases. If you aren’t sure you will remain in that home for the long term, make sure there is a clause in your residential solar lease that states you can end it early if your home is put on the market.

There is really no down side to getting solar power this way. The only risk can be if you don’t read through your contract carefully. While most of the providers are 100% legitimate, there are some that take advantage with hidden fees for this or that. They are legal to do so if they have it in their contract and you sign it. However, that doesn’t mean that they are operating their business in an ethical manner.

With a residential solar lease, you are in complete control of the outcome. You get to decide to continue the lease, to buy the materials from the provider, or to discontinue the lease. You also get the value of solar energy without any huge start up fees that have often prevented people from being able to go green even though it is very important to them that they do so.