Massachusetts Solar 101: The Solar Lease

By Green Options:

With the state of Massachusetts allowing solar leases, there has been an emergence of homeowners who have gone solar. The cost of installing solar panels on a home is prohibitive with an average cost of over $15,000 for a brand new installation. But through a solar lease, the cost of installation of these solar collectors for a homeowner can be as low as $1,000. But according to the companies involved in the leasing, homeowners can recoup the initial cost of installation through the electricity savings within a seven-year period. They will also save more money by locking in the rate they pay on the electricity generated by the solar panels.

 For homeowners in this state who want a solar lease, the steps are simple. A homeowner will call any one of the companies who offer solar leasing to assess the home and install the panels. The homeowner will then be charged a one-time upfront installation fee of approximately $1,000 (may vary depending on installer). The homeowner will then be charged a 20-year locked-in rate (with small allowances for inflation) for the amount of energy that the panels generate which, according to solar lease companies is considerably less than what utilities are. If the homeowner uses up energy that exceeds the amount then the utility is paid at those rates… Read more

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