Global environmental challenges
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.