Home energy costs have been climbing fast, and homeowners are feeling the pressure. A recent CNET survey found that 78% of U.S. adults are worried about rising utility bills.
For many, solar seems like the obvious solution, but buying a system outright can cost tens of thousands of dollars. The good news? Leasing programs are making it easier than ever to go solar without emptying your savings.
According to the Solar Energy Industries Association, solar installations fell 39% year-over-year in the third quarter of 2024, mainly due to high interest rates and consumer uncertainty. But with rate cuts and the rise of third-party ownership models like leasing, that trend may be shifting.
Leasing solar panels works a lot like driving a rental car: You get the benefits of one — lower utility bills and cleaner power — without owning it yourself.
"The customer receives benefits from the solar array in the form of savings on their electricity bill because the on-site solar production is reducing the amount of electricity they buy from their local utility," Corey Ramsden, vice president of Go Solar Programs at Solar United Neighbors, told CNET.
Installation and maintenance are handled by the provider, and you pay a predictable monthly rate. While you won't receive solar tax credits or own the system outright, the setup helps lower barriers to going solar.
"Depending on the size of the solar system, you may still have a balance on your electric bill, so you could be paying for both the monthly lease and your energy bill," CNET writer Stephen J. Bronner explained. "Practically, though, your energy bills should be significantly reduced."
Monthly lease costs typically range from $50 to $250, according to CNET, depending on the size of your system and where you live. And the term of a lease can last anywhere from 15 to 25 years. "The most important thing is that your annual lease payment costs and your utility bill costs are lower than what you used to pay annually for electricity," Ramsden explained.
Can't afford solar panels? Here's how to get them without paying for purchase or installation Palmetto's revolutionary LightReach program gives you all the benefits of solar power without the upfront costs. LightReach lets you lease solar panels with no money down, making it easier than ever to lock in energy savings. Palmetto assumes all risk and responsibility for the panels you lease, which means you'll get reliable performance without unforeseen costs. To get started, just answer a few basic questions about your home and learn how much you can save. Learn more → |
One option worth exploring is Palmetto's LightReach program, which offers solar leasing plans designed to minimize upfront costs, including zero-down payment options. Programs like this allow more homeowners to enjoy the long-term savings and environmental benefits of solar without a steep initial investment.
However, solar leasing isn't available everywhere, and it's not always the right fit. If you'd rather own your panels, EnergySage offers free tools to compare solar installation quotes and explore purchase options tailored to your home.
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What's the biggest factor stopping you from investing in solar panels? Click your choice to see results and speak your mind. |
The cost 💰 Whether you lease or buy, the right solar setup depends on your home, your budget, and your long-term goals. Taking time to compare options can help you find the best fit and start cutting energy costs on your own terms.
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