Tucson Residents Get Solar Power for Less than a Tank of Gas
Thursday, July 22nd 2010 12:00 PM
By GetSolar Staff.
Leasing solar installations can be an attractive alternative to buying them outright. Solar panels are relatively expensive, take time to install and slowly pay back the initial investment over the long term. For some homeowners, there are more attractive options.
Lease agreements let residents get the advantages of solar power without shouldering the high upfront installation costs commonly associated with solar photovoltaic systems. The new monthly lease payments after the system has been installed are typically lower than the homeowner’s pre-solar utility bill.
Like with all lease options, however, there is a cost to this type of financing. Depending on the homeowner’s situation, bankrolling a solar purchase with cash, via a home equity loan or through some other third-party option may prove more cost-effective than leasing.
For those interested in solar lease programs, a popular option is SolarCity's SolarLease option, which includes design, installation, monitoring, repair and insurance, with prices starting at $30 per month. SolarCity is now offering this program to residents and businesses in the Tucson area who are customers of Tucson Electric power.
"Tucson is one of the best solar markets in the world. Tucson has some of the most consistent sunshine in the U.S., and a population that is eager to reduce its dependence on fossil fuels," said SolarCity CEO Lyndon Rive.
Solar leases help residents free themselves from dependence on polluting, fossil-fuel dependent power sources and generally cost less than buying power directly from the grid. SolarCity says that it now serves over 1,000 communities nationwide.
SolarCity's first Tucson solar installation was launched in 2009 at the Soaring Heights Communities near Davis-Monthan Air Force Base.
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Leasing solar installations can be an attractive alternative to buying them outright. Solar panels are relatively expensive, take time to install and slowly pay back the initial investment over the long term. For some homeowners, there are more attractive options.
