Can't Afford Solar Panels? Lease Them!

Daox · 11-04-10, 06:40 AM

As the article says, this is kind of an odd situation. However, if they can make it work it sounds great.

I know at an MREA event I went to they said its possible that you can get a loan for a solar PV system and come out ahead because if you get paid for the electricity you produce, the electricity credit you get is enough to pay for the loan payment plus some of the electric bill. So, you've effectively lowered your electric bill for "free". I haven't run the numbers to see how this all pans out though.

Quote:

Basically, the company pays to install the solar system in your house (solar panels, inverter, grid-tie, etc) and you repay them over a long-term lease that is designed so that you save over what your regular electric bill would otherwise have been like. It's one of those rare win-win-win situations: Solarcity wins because they make a profit, you win because you pay less for electricity, and the environment win because most of your electricity comes from a clean source...

Can't Afford Solar Panels? Lease Them! - Planet Green

Daox · 11-04-10, 12:24 PM

I just ran some quick numbers on the loan thing and I can't see you coming out ahead. Perhaps if you DIY you can decrease the price of the install enough, but at that point you probably won't take a loan out to do it.

Clev · 11-05-10, 12:26 AM

If you're going to DIY, buy the controller, and then buy a panel every month or two until the system is fully built. Start reaping the rewards with the first panel.

strider3700 · 11-05-10, 01:27 AM

Can you qualify for the rebates if you lease the equipment? I know you can if you pay for it with a loan.

Clev · 11-05-10, 06:37 PM

Good point. Also, don't you have to pay for professional installation to get the benefit?

They should do like Edison does for CFLs around here: subsidize them at the distribution point, so they show up on shelves already at a lower price.

01-13-11, 03:26 AM

Yes, I do agree. I think going to DIY would cost you less and you don't have to hire any experts to install it for you (which I think paying a professional would be quite costly.)

11-04-10, 12:24 PM	#2
Daox Administrator Join Date: Aug 2008 Location: Germantown, WI Posts: 5,525 Thanks: 1,162 Thanked 374 Times in 305 Posts	I just ran some quick numbers on the loan thing and I can't see you coming out ahead. Perhaps if you DIY you can decrease the price of the install enough, but at that point you probably won't take a loan out to do it. __________________ Current project - To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. & To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.

11-05-10, 12:26 AM	#3
Clev Wannabe greenie Join Date: Sep 2008 Location: Crestline, CA Posts: 74 Thanks: 1 Thanked 1 Time in 1 Post	If you're going to DIY, buy the controller, and then buy a panel every month or two until the system is fully built. Start reaping the rewards with the first panel.

11-05-10, 01:27 AM	#4
strider3700 Master EcoRenovator Join Date: Dec 2008 Location: Vancouver Island BC Posts: 745 Thanks: 23 Thanked 37 Times in 30 Posts	Can you qualify for the rebates if you lease the equipment? I know you can if you pay for it with a loan.

11-05-10, 06:37 PM	#5
Clev Wannabe greenie Join Date: Sep 2008 Location: Crestline, CA Posts: 74 Thanks: 1 Thanked 1 Time in 1 Post	Good point. Also, don't you have to pay for professional installation to get the benefit? They should do like Edison does for CFLs around here: subsidize them at the distribution point, so they show up on shelves already at a lower price.

01-13-11, 03:26 AM	#6
heyroxie Guest Posts: n/a	Yes, I do agree. I think going to DIY would cost you less and you don't have to hire any experts to install it for you (which I think paying a professional would be quite costly.)