WASHINGTON, D.C. — The sun is shining on homeowners in less affluent neighborhoods who are discovering they can afford solar energy after all — by leasing rather than buying the panels on their roofs.
The new business model lets homeowners save money the very first month, rather than breaking even a decade after an initial investment of $5,000 to $10,000.
Analysts with the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) found that the solar lease business is surging in southern California. And the model is being adopted in less affluent neighborhoods that had avoided customer-owned systems.
The NREL study found a positive correlation between customers outright buying solar energy systems and customers living in neighborhoods where the average household income was $150,000 or more.
But for third-party-leased solar panels, that positive correlation appeared in neighborhoods where the average household income was just $100,000 or more.
via Solar Leases Attracting New Demographic | Renewable Energy News Article.
Categories: Electricity, Energy, Finance