What’s the price of going solar? What’s the solar panel installation cost in your area? In over a dozen states, it is now $0 or close to $0.
Photo Credit: Brad Stabler / CC BY-NC-SA
The “problem” with solar power is its long-term savings… or, rather, that its massive savings are generally reaped in the long term. Many people who have roofs on which they can install solar panels would save tens of thousands of dollars over 20 years if they got a solar panel installation (and even much more money over the lives of their solar panel systems). But 20 years is a long time, and many people don’t like to plan that far in advance. They also don’t like to wait several years for a “return on their investment.” So, many people who have adequate roofs for solar power decide not to have a solar panel installation.
However, to address this, companies like Sunrun, SolarCity, Sungevity, and many others have stepped in to offer $0 or close to $0 down for people who lease solar panels from these companies, or who sign PPAs (Power Purchase Agreements) — it depends on the state. (You can find out your solar leasing or PPA options by filling out the quick form on our homepage.)
They know that the 20-year savings from solar power systems are huge. So, they take the initial hit for buying a solar panel system and having it installed on your home (with the help of loans, of course) so that customers can start saving money from Day 1. Then they spread out that solar panel installation cost (plus interest on loans and some profit for themselves) over 20-year contracts with their customers. These companies are more or less guaranteed long-term profit on a relatively secure investment through such a system, and customers can go solar for $0 or close to $0 (depending on individual situations).
So, Solar Panel Installation Cost = $0
Very simply explained, that’s why you can go solar without any extra “cost,” seeing savings from the moment your solar panel system gets installed and starts feeding electricity into the grid. Pretty cool, eh?
In California, one of the states where solar leasing is available, about 75% of people who go solar now do so through a solar leasing agreement. I think that’s a testament to how attractive this option is for many people.
To see if you have a solar leasing option in your area, and, if so, to compare that with outright purchasing options, simply fill out the short form on our homepage.
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