Let’s face it, electricity costs are skyrocketing in the Northeast. Homeowners are forced to pay a fortune to keep the lights on.
It’s no surprise that many homeowners are turning to solar energy. But what if you don’t want to commit to that big of an investment? That’s where a solar lease comes in.
What is a solar lease?
A solar lease is a form of third-party ownership (TPO), where you rent your solar panels instead of owning them. Instead of buying your system upfront, you make simple monthly payments to use the clean energy it generates.
Additionally, the solar company owns and maintains the solar panels for you. Along with this, homeowners don’t have any upfront costs. In fact, most people see their lease payment come in lower than their old utility bill from day one.
Lease vs. Loan
When it comes to going solar, homeowners generally have two popular options: purchasing their solar outright or choosing a lease. Buying your solar panels requires a higher upfront investment, but gives you the greatest long-term savings. This is because you own the system and won’t have monthly payments.
On the other hand, a solar lease offers the advantage of no upfront costs and predictable monthly payments. Each path has its own benefits depending on your financial goals and comfort level.
Why leases work well in the Northeast
According to EIA, electric rates in the Northeast are some of the highest in the country. That means every kilowatt-hour of electricity you avoid buying from the utility is worth more here. With a lease, you can start saving right away while protecting yourself from the next round of utility hikes.
Plus, since lease payments stay steady while utility rates rise, families can budget with confidence and enjoy immediate savings without worrying about surprise expenses.
At Infinity Energy, we’ve helped thousands of families across the Northeast cut their bills with solar, many through flexible lease options. We make the process simple, stress-free, and affordable.
Ready to take control of your energy bill? Find out if a solar lease is the right fit for your home by getting a quote today.
