ConEdison Solutions & SunPower Launching Residential Solar PV Lease Program In NY State
SunPower and ConEdison Solutions are partnering to bring a residential solar photovoltaic (PV) system leasing program to the state of New York, according to recent reports. The new program will give residents in the area the option of leasing high-efficiency SunPower solar power systems at “affordable” rates.
The systems will be leased by ConEdison Solutions via terms of up to 20-year periods — a setup that will see users pay monthly leasing payments to the company. SunPower will then be providing the systems with a 20-year limited warranty, as well as a production guarantee for every system.
“Increasing numbers of New York families are choosing solar leases, and we want to make their decision as easy as possible. We are combining the strength of our trusted brands to meet the demand for reliable, rooftop solar solutions,” stated Michael Perna, Vice President of ConEdison Solutions. “Through this residential lease program, homeowners may save on their electricity from day one after activation, with no upfront costs. They’ll also be helping reduce carbon emissions by increasing the use of clean, reliable solar power in our communities.”
“With high quality SunPower systems, ConEdison Solutions’ customers can depend on a high level of energy assurance compared to systems using conventional solar technology,” commented Howard Wenger, SunPower president, business units. “More than 27,000 U.S. homeowners are leasing SunPower solar power systems today. We are pleased to team with ConEdison Solutions to extend the program and make solar accessible to more New York families.”
Given the commercial standing of the two companies, and the growing market for residential solar systems in the state, the new leasing program seems likely to be, at the very least, fairly successful.
This new program follows previous cooperation between the two companies on various projects — including the development of a 1.28 megawatt (MW) rooftop system on the top of Boston Scientific Corporation’s international distribution center in Quincy, Massachusetts.
Image Credit: SunPower
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I’d rather buy than lease but with all the technical liabilities of a modern system, perhaps letting the experts take care of maintenance and performance is a good idea.
However, I don’t want to just put up some panels on the roof, that’s old school.
I want a single axis, tracking, pole-mounted system of roughly 3 kw, and, I want a maximum sized lith ion storage battery in the garage, to marry the system with our other electrics in the house, like the EV.
Does anyone lease the whole package, and not just the part that goes on the roof to generate electricity only.
Emotional response about some romanticized version of reality. Once you become more informed, and do the math I, suspect you’d make your decision on what works best for your situation, not based upon “gut feel” or ideas of “wouldn’t it be neat if…”
– Leasing is an attractive way for people without resources to participate. It’s attractiveness is magnified by perverse, regressive tax credits that make solar ownership more expensive the less you earn, with those without enough tax liability to benefit from credits paying a huge premium.
At the end of the day solar provides electricity at a cost. Even if you have no debt, your capital has opportunity cost.
So what is the cost of solar electricity? Leasing simplifies the math and the transaction for many, making the cost easier to see. For some it allows leveraging tax credits that they would otherwise not benefit from, significantly reducing the cost. (I’d like to see leases with short term buy out options – like 3 year auto leases. This allows people who can’t leverage tax credits a path to solar ownership)
It will be interesting to see what happens to leasing as regressive tax credits go away.
– The same holds true for romantic ideas of “tracking”. Does the increased production justify the increased capital cost and maintenance risk. Think about this – Mightn’t there be a reason you never see residential solar systems with trackers?
It’s just Math. Not hard, but you have to do it before making design conclusions.