Solar firms offer leasing option, widening its availability
Robb Sauerhoff estimates that his new rooftop array of fifteen solar panels on his Bartram Avenue home in Bridgeport, Conn.
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#1 Jul 14, 2013
"My husband did all the numbers," Schelz explains, "and decided we should go ahead and lease them." Well there is a big number that he may have left out of his calculations, and that was the 30% federal tax credit. Did you know that on a medium sized 6kW residential solar system, at the solar leasing company's much higher pricing, the tax credit is about $10,000.00!
That's the mistake that most solar leasing customers make. They don't ask the leasing company salespeople to tell them how much the tax credit on the system is. Add up all of the leasing company's payments and the huge federal tax credit and any other financial incentives and you'll find that you'll be paying more than double what you would have paid if you bought your system instead.
Today, instead of an expensive lease, you can apply for a $0 down, no equity needed or even no collateral needed solar loan and keep the 30% federal tax credit and own your solar system for a much greater return on investment that a lease or PPA.
If you're paying more than $3.15 a watt before incentives for an installed, name brand, grid tie solar system and you dont have any barriers to installation, then you're probably paying too much. And good luck ever selling your home with a lease attached to it. What homebuyer will want to assume your lease payments on a used solar system, when they can buy a brand new solar system for so much less.
#4 Jul 22, 2013
"federal tax credit"
And how long is THAT supposed to last, given the screwing The State (fed gov't) is currently applying to it's inhabitants?
Before long, it could be telling the IRS to tax solar installations just like it wants to eliminate local vehicle taxes in favor of federal ones.(and the lickspits blumenthal and murphy will jump right on the bandwagon)
#5 Jul 22, 2013
That's what they all say.
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