Sometimes solar sounds too good to be true and it's easy to feel like there’s a “catch”. it’s not often that you have something that will legitimately save you money without any investment from you except for some time. However, if you decide to lease a solar system, that’s exactly what happens. With a company like Renova and a lease from SunPower, a 32-year old American company that makes the most advanced and efficient panels available, you’re getting the best of everything.
Renova will do a site survey at your home and gather information about your past electric usage to determine how many panels you will need to offset 100% of your usage over each 12-month period. Then you will receive a proposal for a fixed payment that should be 25-50% less than your current average electric bill. You put nothing down and installation is free. Then you just start paying the lease payments once the system is energized and enjoying all the electricity your system is generating.
Sound too easy? That’s it! You will pay a small amount to the electric company each month, like a couple of dollars, for your share of grid maintenance, but as long as your energy habits don’t change, you’re all set. Planning to get an electric car in the future or live in your home more, or rent out your casita, etc.? Your additional usage can be estimated and included in the proposal so you’ll be covered not just now, but for the foreseeable future.
And, the proposal is free and with a SunPower lease, the savings start right away. If you sell your home in the future, the new owner just assumes the lease. Or if you prefer, you can pay off the lease and add the cost to the purchase price of the home. Either way, a home with electricity costs under control is an attractive option for new homeowners.