tonymil said:NeilBlanchard said:The system in the picture I posted was originally going to be leased, but the "line" was over 100 homes, so they decided to buy it. It cost about $27K, while the lease deal they had was about $1,400 down and ~$58/month for 20 years for their electricity. They were paying ~$70 to $180 per month, plus ~$1K per year for heating oil to heat their water....
Thanks Neil, that's very helpful. My lease proposal from Solar City doesn't offer a purchase option, but it gives some figures for the system (6.86 kw) if it was purchased. Unfortunately, the figures are confusing. It lists $34,300 as the "system cost"; $25,382 as "out of pocket"; and $14,267 as "Net cost". I have no idea what each of those represents so I'll have to ask the salesperson. If I borrow the lump sum option of $9260 and repay it at 5% for 20 years, my total cost would be $14,666. The only benefit I see from purchasing (from a different vendor) is that I could sell the system at any time, which would allow me to upgrade before the 20 years are up.
Sorry to be a downer...but the keyword in your post is SALESPERSON. Beware. Leasing solar is like buying snake oil. I have yet to find a company, anyone, who would settle to make less money on your solar installation than you would make. It's not about buying the materials at a reasonable price and paying for an honest days labor. It's all about the installer cashing in on your government incentives and your potential savings on power. And so...the technology goes underutilized by the little guy.