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The following article was published in our article directory on July 23, 2013.
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Residential Solar Panels: Buying without Upfront Cash

Article Category: Advice

Author Name: George Beverly

Everyone is talking about residential solar panels and the possibility of installing them without the usual burden about the money. There are leasing programs that are being offered by developers and people are getting interested. That s over and above the fact that solar panels are getting cheaper nowadays.

The General Leasing System

Recently, it has been noted that solar panel prices are going down making them more affordable, but more and more people are considering leased systems offered by solar panel developers. Leased systems are offerings wherewith a developer put in solar panels on the customer s house. Leased systems are either with little amount required upfront or even nothing to pay during the installation.

With a leased system, a client pays monthly according to the power generated by the solar panels. Lease deals are usually on a long-term basis like ten or twenty years. It is therefore the investors and/or developers who put in the money to install these power-generating systems.

Solar Power Developer Money Return

In return, these investors and developers get tax credits from the federal government for installing such systems and receive monthly payments from the customers.

Prices Will Surely Dip in the Future

It is has been estimated that close to $5.7 billion will be invested by the developers in 2016 alone. In 2012, developers spent about $1,300,000. The big jump only signals more companies are considering investing in this industry and that prices would surely sharply go down in the future.

Install Solar Panels: How Much Savings

Among most of available offerings, the average savings are 10|of what customers are paying with the traditional grid setup. One research reported that with most contracts, a rate increase of 2|annually is imposed.

The savings that can be generated by having a solar panel system on the roof is only a fraction of the future benefits that are in store for solar panel users. It is projected that electricity prices would soar high. That s a very bad news especially if you are residing in states where power consumption by homes is higher than the national average. One of such states is New Jersey.

What Are the Options?

Energy bills are definitely going to rise, and considering that they are already in uncomfortable levels now, it is really a great option to consider having solar panels. If you don t want to fall victim to this unfortunate future event and if you have a heart for the environment, install solar panels.

If you ve got the money, you can buy one of the available purchased systems. To estimate, a system that can generate 8 kW of power per day would cost about $70000. After rebates from the federal and state governments, it would cost about $20000 dollars. This would be an investment that will benefit you and the generations after you.

But if money is not available and yet, you would like to participate helping the environment in a direct way, a leased system might be the convenient option. Remember, however, that a leased system does not allow transfer of ownership of solar panels to consumers.

Keywords: building solar panels, lower energy bill, buy solar panels, residential solar panels, solar panels installation

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