Not all homeowners can afford $20,000-60,000 for home solar power. Even those who have the money, or sufficient home equity, may not want to use their savings or leverage their credit to buy solar.

This is why various financing for solar installation is fast becoming more widespread. With solar financing, the upfront costs are minimized (an installation fee is most common) but the ongoing, 25-30-year price “lock-in” still means monthly savings, even when the lease payment is added.

Another advantage is the fact that you are spared the costs and duties of owning and maintaining your own system. Though maintenance is minimal, it's nice to know that upkeep, repairs, troubleshooting and component replacement is all on the installation company.

Solar Lease

Leasing solar equipment is not much different than leasing a car or apartment. Your payment essentially “rents” the solar panels, inverter, mounts and so forth. Also, your monthly lease payment stays the same no matter how much electricity your system may produce.

Initially you may only save a net of $10-20/month over your current energy bill. However, over time as energy prices increase your solar lease payment will remain the same.

Bottom line, there will be no increase in your lease payments even as energy prices rise for your (non-solar) neighbors. With appropriate research and planning on your part, you can make sure that you lease enough power potential to offset any higher-cost energy tiers, and make the lease a part of your long-term financial planning.

Having $20,000+ available is no longer a requirement for “going solar,” as the financing options are in place and already have a track record you can check, in your home state and around the world. If you can afford the upfront costs that would certainly be the wisest move for many homeowners. Still, the sustainable future is a work in progress, requiring a variety of approaches, among which solar leasing is a great option for many, many people.