From Guest Blogger Mathias: Solar Leasing from Affordable Solar Launched in New Mexico
There have been a lot of changes in the solar industry since SunRun first introduced the model of third-party ownership a little more than six years ago. Leasing solar panels is now the first choice in many states – a study conducted by PVSolarReport found that more than 70% of Californians prefer third-party-ownership. The same trend can be seen in many other states across the country. Affordable Solar have now launched solar leasing in New Mexico, allowing homeowners that are unable to pay the whole system upfront (or do not qualify for a well-structured loan) to reap the benefits from the sun.
The homeowners pay a “low monthly fee” and can start saving money from day one without any upfront costs. Here`s an example, taken from Affordable Solar`s press release, to illustrate what kind of amounts we`re talking about:
A 4.5-kilowatt residential solar system, which is typical for a 3 bedroom home, would initially cost approximately $79 a month, with no upfront cost. The $79 per month will be offset by a decrease in their electric bill. Customers could purchase the same system outright for $18,000, not including federal and state tax credits.
I personally try to advice people from leasing a solar system if they can afford to purchase one (either in cash or through loans). The reason for this is that there`s more money to save in the long run if you do this, but maybe more importantly is the fact that you don`t tie yourself to a 15-25 year lease.
On the other hand, solar leasing can be the only choice for some homeowners and financing with a third-party owner makes sense.
Affordable Solar offers 25-year warranty, system monitoring, maintenance with their solar lease. The addition of the homeowners in New Mexico means that about 75% of all homeowners in the U.S. now have access to solar leasing programs.
