Company develops service that will install solar panels on your home for no money down — here's how it works
Solar energy company Palmetto is helping consumers save money on clean energy through its leasing program. While the initial price tag for solar installation can dissuade some homeowners, the LightReach energy plan aims to minimize costs upfront.
Palmetto described LightReach as "an innovative approach to home energy management for those who value the financial and environmental benefits of rooftop solar but want the ease of an affordable monthly plan."
With LightReach, potential savings are calculated, and a specific solar plan is designed for home installation. The plan can be tracked through a personal solar dashboard.
Installing solar panels provides many benefits for homeowners. According to the U.S. Department of Energy, solar panels can lower monthly utility bills and increase home value. In fact, one study showed that solar increased the value of a home by about $15,000 on average.
There's also the environmental impact. Solar panels, in addition to other home upgrades like smart home technology, significantly reduce heat-trapping pollution.
According to the Solar Energy Industries Association, there are more than 200 gigawatts of cumulative installed solar electric capacity in the United States. That's enough to counteract more than 222 million metric tons of CO2 emissions.
In the r/solar subreddit, a solar advocate initiated a discussion about owning versus leasing through companies like Palmetto. "Let me start by saying ownership and leasing a solar system are both excellent ways to go solar," the original poster prefaced before listing pros and cons for both options.
In the dozens of responses, many Redditors shared their own experiences with going solar. Some mentioned that their solar decisions were based on a variety of factors, including availability and price.
"All kinds of buying/leasing solar have their positives and negatives," one commenter wrote. "The main thing I would say to keep in mind, is that you need to do your due diligence and figure out what is best for the specific situation." If leasing isn't the right move for homeowners, EnergySage has free tools that provide estimates on buying and installing panels. It's a helpful resource that makes it easy to compare quotes.
What's the biggest factor stopping you from investing in solar panels?
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