Instead of purchasing your own solar power system, you can essentially lease the equipment. The finance company pays the upfront and maintenance costs for the solar panels on your roof. You, in turn, pay the financing company a series of monthly payments. When you sign up for a solar leasing deal, you are effectively letting someone else build a mini power station–a solar PV system–on the roof of your home or business, at no or little up-front cost to you. The company that has financed the construction of the system then sells you the power that it generates at a rate that may be lower than your retail tariff.
At the end of your leasing period (usually 15 years), you have the option of extending your lease, purchasing the solar equipment from the leasing company, or having the panels removed. Solar lease is an option if you do not want to spend on the solar system but want to save the electricity expenses. While purchasing solar panels entails a upfront investment, leasing solar panels doesn’t.
- Want to learn more about your options? Contact us on 1300 782 217
