Solar power companies have been working around the clock to drive down the price of clean electricity from the sun so it can one day be as cheap as the energy we get from dirtier sources, like coal plants.
Until we get there, however, some solar panel installers have come up with a solution that they say will give more people access to solar energy. How are they doing it? By allowing customers to lease, rather than buy, the photovoltaic solar panels for their roofs.
It’s the same idea, really, that has enabled some people to get behind the wheel of a luxury car they could otherwise not afford — low or no upfront costs followed by a monthly bill.
SolarCity, based in Foster City, California, is one company that recently started offering leases to its customers. Chief Executive Lyndon Rive told Reuters he wanted to do away with the hefty cost of buying solar panels — on average about $20,000.
“Even those who really want to make an environmental change can’t part with $20,000… the solution is just too costly for them.”
Under SolarCity’s lease program, customers with a small home could pay as little as $70 a month for a 2.4 kilowatt system, Rive added. The company is also allowing customers who sign up before July 31st to put no money down on their system. After that, upfront costs should be between about $1,000 and $3,000, Rive said.
“We can essentially make it so that everybody can now afford clean power,” Rive said.
The leased projects will be financed through Morgan Stanley, and SolarCity said it will serve as a one-stop shop for both installation and financing.
Right now the program is only available in California, but SolarCity is expanding to Oregon, Arizona and has plans to go to the East Coast.


Trackback
10 comments so far
Currently, California utilities will only pay the monthly offset for power; meaning that any surplus power you deliver to the grid above their monthly bill is a gift to the utility.
There is a pending bill that will allow the power company to pay for that surplus power. If it passes, I believe it will make home solar generation even more viable.
- Posted by LadThis is a good start. There is a small company in Spring, Texas that has developed a new power generation system that will provide almost half the 10,655 kilowatt-hours (kWh) of electricity used by the average American household each year. It requires no change in the electrical wiring of the home and meets the building codes of every city in the US. Installation time 4 hours. Cost estimated to be about $500 USD.
- Posted by EdTo Ed, who made the posting 4/27 regarding the small solar company in Spring, Texas: What is the name/address of this company?
- Posted by Roger HarrisTo Ed, who made the posting 4/27 regarding the small solar company in Spring, Texas: What is the name/address of this company?
michaelphxaz@yahoo.com
- Posted by Mike Sre: Ed’s comment on 4/27. I also would like to know the name of the “small company” and its “new” generation system. There is nothing on the web about it. Being from Phoenix, AZ I am continually amazed at how stagnant solar is in my state. Solar City sounds like they’ve got some creative folks that can help make this happen. Subsidies abound, but it’s still expensive to get started, especially in this down economic period.
- Posted by jfl97I live in very sunny Las Vegas. It will be very interesting to see if these systems will ever make it to this locale. I may be currently out of the loop on why it is widely available in California, but why not make a stop here in Nevada where we get 330 days of unblocked sunlight before going to the East Coast? I left PA due to all of the gray days there!
- Posted by BOMAC[…] Link to original article […]
- Posted by Energy For Us All » Solar becomes affordable for homeowners by leasing panelsFreeCleanSolar.com has a network of installers and lenders to help homeowners and small commercial owners. You get multiple bids to compare.
- Posted by Rich[…] Solarbuzz | Reuters […]
- Posted by Lease Solar Engergy « PY’s Solar WeblogTry this link to an article posted today, 5/14/08, in RenewableEnergyWorld.com.
http://www.renewableenergyworld.com/rea/ news/story?id=52391
- Posted by Mike V.