02 Sep What Happens When My Lease Is Up?
Figuring out how to pay for your solar panels can be stressful. At Vision Solar we want you to be comfortable with all of your financing options. There are many different ways to pay for your panels. By educating our customers on the different payment plans and options, we can ensure we can find you the best option for your specific needs. Acquiring a solar lease is one of the most popular forms of payment that our customers choose for their solar panel system.
What is a Solar Lease?
A solar lease expands over a 25 year period. This payment option is great for our customers who do not have the money to pay for their system outright. The solar lease gives our customers a set monthly rate to pay for their electric bill. No extra costs. This set monthly rate is almost always lower than their original bill that they were paying without their solar panel system. The solar lease is also great for homeowners because when you sell your home you can just pass the lease to the new homeowners. Or, your new homeowners can decide to not take the lease and we will remove the panels with no extra costs.
When The Lease Ends:
After your solar lease ends you may be thinking to yourself now what? Well, at Vision Solar we will be here to make sure that you are taken care of after all of these years. We will come out to remove the panels if you wish to have them removed. Or, if you wish to renew your lease we will take down the panels and put a new set up. This is a great way for you to continue to save money even with a brand new leasing agreement.
Savings With Solar:
The total savings that can come with your solar panels is enough to save you over $20,000 over your 25 year lease. This breaks down to you saving upwards of 20% on your monthly electric bill. The more energy that your panels produce and that you do not consume, the more savings that you can earn with your panels. Through the process of net metering, your panels use stored energy in order to power your home through the night. This then can lead to you having excess, unused energy by the end of the month. This excess energy can be sold back to the grid for you to receive a credit. The end result of this is your panels essentially paying for your set monthly bill.
Benefits of Solar for Your Home:
Apart from the large amount of savings that come from solar, there are also very many benefits for your home. The environmental benefits that come from solar allow you to know that you are decreasing your carbon footprint on a daily basis. Along with this, installing solar on your roof has the ability to elongate the lifetime of your roof. The extra coverage is a great way to help your roof last a little longer than what it normally would. With the benefits being endless, at Vision Solar we want your experience to be as beneficial to you as it possibly can. Contact Us to get started on your solar lease today!