Homeowners Can Now Rent Solar Panels

Many homeowners know that they could save thousands of dollars by installing solar panels. The only problem is solar panels are very expensive. Just the cost of installing solar panels can range into the thousands. But, companies are changing the way homeowners think about green energy.

Companies are now offering homeowners the chance to rent solar panels. Finally, just about any homeowner can afford to switch over to green energy. The advantages of having solar panels are numerous. Other than saving money, some homeowners have actually been able to make money from their electric company. Green energy also adds more energy to a city’s energy grid and some homeowners with large estates are able to provide energy to lower income families. But, what’s involved in this process to rent solar panels?

With the solar panel rental program, homeowners in 40 states are finally able to use green energy without making an upfront investment. This means that homeowners no longer have to wait for rebates that can take months to arrive. Once the homeowner rents the solar panels, the company will speak with electric companies and the city to acquire the needed permits. The company will then install the solar panels for free. This reduces the cost of green energy even more. Once installed the company maintains the system so that homeowners don’t have to get on their roof to clean the solar panels themselves.

What about the most important part? Do homeowners who rent solar panels really save money? When homeowners rent solar panels, they lock in their electricity rate for 25 years. What that means is instead of trying to cope with an electricity bill that rises anywhere from 5 to 30% each year, the homeowner pays the same rate they were paying when the solar panels were installed. Depending on where the homeowner lives, this could save the homeowners thousands of dollars each year. The fee to rent solar panels is usually less than or equal to the homeowners current electricity bill. That might not seem like a large savings to begin with, but just think what an electricity bill will cost in just 10 years, as the cost rises at least 5% each year.

If you think you might want to rent solar panels for your home, go online and research companies available in your area. Don’t be discouraged in your state doesn’t have a solar panel rental program yet. This concept is still new, but sure to catch on quickly.