How Leasing Solar from PosiGen Works

How Leasing Solar from PosiGen Works

Powering your house with solar has so many benefits for homeowners—from saving on your electric bills to gaining energy independence and more!

Unfortunately, purchasing a home solar system isn’t possible for everyone. While the government has tried to address the affordability of solar with tax credits, some homeowners are unable to take advantage of them if their tax liability does not match or exceed the value of the credit. Additionally, the high upfront cost of purchasing and installing a solar system and meeting credit and income requirements create extra hurdles for many families trying to benefit from clean energy.

At PosiGen, we believe that solar energy should be accessible to everyone.

That’s why we give homeowners the option to lease a solar system from us, eliminating the challenges of purchasing equipment outright. Here’s more about how PosiGen solar leasing works and allows the financial flexibility to make it easier for a wider range of individuals and families to enjoy solar’s benefits.

What is solar leasing?

You can think of leasing solar like renting versus buying. When you lease a solar system from a company, you don’t have to pay the high upfront cost. Instead, you make a fixed monthly payment that is less than you’re currently spending on your electric bill. You can conserve your savings for other essential expenses, such as home improvements, education, or emergencies. It's like having a financial safety net while still embracing renewable energy.

Also, when you aren’t the owner of the system, you’re not responsible for maintaining it! The company you lease from will handle that so you don’t have to invest time and effort in becoming a solar system expert. That’s how leasing allows you to get all of the benefits of solar power at a lower cost without having to worry about upkeep.

Leasing solar through PosiGen—Solar for All

PosiGen’s core offering is a 25-year solar lease that includes an energy efficiency upgrade for all customers. As owner of the system, PosiGen claims tax incentives that allow us to offer reasonable lease rates and provide efficiency improvements. Owning the system also means that we will operate, maintain, monitor, service, and insure the system for the life of the lease.

Our 5-year warranty guarantees that our work will be free from defects and roof penetrations will be watertight, while your solar panels come with a minimum 25-year performance warranty from the manufacturer. If anything ever happens, we make necessary repairs to keep the system working smoothly and efficiently. That means no surprise costs, even if something unexpected happens. This lack of responsibility can make the transition to solar energy smoother because you don't have to navigate the paperwork, handiwork, and other complexities of owning a solar system.

Understanding leasing specifics
Here are a few more things you should understand about PosiGen solar leases:

• Making monthly payments: Instead of spending a lot of money upfront, you’ll make predictable monthly payments, helping to keep solar affordable. While what you pay each month depends on things like your energy needs and system size, the amount is designed to be lower than your current electricity bill.
  
  Knowing that you’ll have a fixed cost for the full duration of your lease can help you plan with peace of mind knowing that you’re protected against rising energy costs.
  
  You’ll be invoiced for your lease payment each month (including taxes) following the activation date of your solar system. Note that this payment is to lease the system from us as its host, not for the system itself or for purchasing any electricity. Making payments is easy with options for automatic deductions from a checking account or charges to your credit card. You can update your payment information anytime online or by calling us.
  
  
• Don’t cancel your utility service: While using your solar panels to produce your own electricity typically means you will use less from your utility (lowering your monthly bill and saving money) you will still need to continue service with your local energy provider because they will help fill any gap left by solar production and provide the additional electricity to meet your needs. Other important responsibilities to keep in mind during the lease include keeping your roof in good condition and allowing PosiGen to access your property as needed to monitor and maintain your system.
  
  
• Savings are guaranteed: You'll start saving money from day one—we guarantee it. In fact, we won't recommend that you go solar unless we can be sure you will save on your monthly energy costs in the first year after your system is activated. During the discovery process, we’ll take into account how much electricity your home uses each month and what you’re paying for it. This will help us determine what type of setup you’ll need to generate enough electricity to save money on every bill.
  
  If it ever does turn out that your system’s electricity output is less than what we promise, we’ll give you a credit on your monthly invoice. If it’s ever higher, we carry forward the surplus and apply it in the future to offset any production shortfalls.
  
  
• Options at the end of your lease: After leasing your system for at least 20 years, you have a few options for how you’d like to proceed. There are also options if you move during your lease term:
  
  

With more than 40,000 successful installations across seven states, our team has perfected solar leasing. When you lease from PosiGen, you’ll put more savings in your pocket, reduce your impact on the environment, and enjoy a more comfortable home.

You can learn more about solar leasing in our video:

Contact us to learn more about our solar leasing program.