A solar panel installation is a great way to be planet-friendly and simultaneously save a good amount of money every year. However, if you are not keen on making a substantial upfront investment on your solar panels, you can go with a solar loan or a solar lease.
Many residential customers choose solar leases to finance their solar power systems as they offer many excellent benefits to customers. Here’s a quick overview of everything you need to know about solar leases in Massachusetts.
- Electricity Bill Savings
Electricity rates in Massachusetts have been increasing at a rate of 3% to 5% every year. That means, as long as you are dependent on your utility company, you will end up paying a higher electric bill every year.
In the case of solar leases, you pay the leasing company a monthly payment based on a rate you can lock in for over 20 years.
What’s more, these solar lease rates tend to be substantially lower than utility bill rates. So, not only do you enjoy immediate savings in electricity bills, you can enjoy those savings for many years into the future, thanks to the fixed lease rates.
Solar lease arrangements grant the ownership of your solar installation to the leasing company. Therefore, they are responsible for maintaining and repairing the equipment. The includes all failed equipment with a guarantee that pays you back for lost production during the system’s down time. As there are little to no moving parts, there isn’t much maintenance involved. Still, that’s one less responsibility.
- $0 Solar Leases
Green Power Energy offers an irresistible solar leasing option, wherein customers can start enjoying the benefits of solar power without making any down payment whatsoever. That’s right, no down payment and make easy-to-manage lease payments – an unbeatable combo offer to help you go solar today.
- 0% Interest Solar Loans
No, you did not read that wrong!
Green Power Energy offers you another outstanding opportunity to get your solar panel system installed today and enjoy its benefits for 12-18 months for free. You don’t have to purchase or finance your power system for the entire duration. At the end of the period, you can either make a full payment or go with paying monthly. In the case of the latter, the interest applies from the day when the deferment period ends.
Also, remember that solar leases are generally long-term arrangements that can last for up to 25 years. Imagine paying for your power in 2021 at 1995 rates – that is what solar leases can offer to you!