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Solar lease payments range from $150 to $200 per month on a standard 25-year agreement. Your actual monthly costs can vary depending on a few factors, including the system size and your energy needs, according to Landon Wimmer, CEO and owner of Empower Home Services. In most cases, the lease payment is below the utility's average electricity cost.
Amid rising electricity prices, solar leases offer a budget-friendly pathway to renewable energy. By leasing solar panels instead of buying them, households sidestep hefty initial costs, widening access to sustainable power. Solar leases offer accessible solar energy without upfront costs.
Solar leases offer maintenance-free solar with no upfront costs but have drawbacks, including limited long-term savings and potential home sale complications. Besides solar leases, you may consider cash purchases, solar loans and PPAs as alternative financing options.
You can think of a solar lease like a car lease: It's a form of third-party ownership (TPO) where you don't own the product that you're paying for. Under a solar lease, a third-party owner (typically a solar company) installs solar panels on your property and then sells you the electricity produced at a predetermined monthly rate.
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