[DTP pt.1] Going Solar - Solar Lease vs PPA vs Loan
[Decentralize the Power] Going Solar Series - Part 1
Fossil fuels are a limited resource being mined by greedy industries with help from government subsidies. You can help stop this sooner rather than later.
The good news is in most cases you will save money while voting against these industries.
Solar installers offer many "zero down" installations. This is thanks to the drastic decrease in costs of solar panels over the last few years.
These come in three popular forms: Solar lease, Solar PPA (Power Purchase Agreement), and a Solar loan. Let's break down the differences in simple terms.
Solar Power
Solar Lease vs Solar PPA
These are both forms of renting or leasing your solar power. In both cases, YOU don't own the solar panels. They both come with performance guarantees and the company installing them takes care of maintenance.
The difference:
- Solar lease - You pay a set monthly rent (like when leasing a car)
- Solar PPA - You pay a set rate per kWh used (how you currently pay for electricity)
Solar Loan
In this case, you own the system. However, many companies will still offer performance guarantees and still provide maintenance. Payments are broke down over many years (typically 10 or 20) like you're current house payment.
Since YOU own the system, you also get any government rebates that are offered. (In the case of a lease or PPA, the company gets those rebates.)
How To Choose The Right One
The best thing to do is get a free proposal and find out the cost differences. Just remember to include the rebates in your consideration. Often they will pay for your solar loan for a good chunk of time.
The costs/rates of fossil fuels will only go up. Any of these options allow you to lock in lower rates now and help reduce carbon emissions for the future.
Check if your zipcode is eligible for a free proposal from the #1 installer (which could be owned by Tesla in the near future)!
https://powur.com/wacey.pruit/getsolar
Feel free to check out other companies too. Now you have the power of knowing their loan/leasing terms!
Keep Calm and Steem On,
Wacey Pruit
@imjefe