Is $154 to lease solar panels a fair price?
Project Details
I contacted a person recommended by a family friend to get an estimate for leasing solar panels. I was quoted a fixed monthly payment with an annual escalation. The person claimed the system would replace my current electricity bill, but the graph shows only a 60% energy offset, which makes me unsure if I'm reading it correctly. I did a rough estimate and believe I would save around $300 per year after paying the fixed monthly amount, but I'm concerned about getting into a 25-year lease term. I don't feel like I can trust the person on the other end and plan to look elsewhere for more options. I'm not familiar with leasing solar, and while my family's friend said it could be canceled anytime, the person I spoke with said it's possible after 5 years with a price to be determined. I don't want to be locked into something for 25 years for what I perceive as only $10,000 in savings over that period. I am now considering buying solar panels if I can get an affordable quote.
Quote Details
This quote is for leasing solar panels with a fixed monthly payment and an annual escalation. The system is designed to offset the current electricity bill, with an estimated 60% energy offset. - Monthly Payment: $154.00 - Annual Escalation: 2.9% - Lease Term: 25 years - Cancellation Policy: Possible after 5 years, with a price to be determined by an independent source. The homeowner estimates saving around $300 per year after paying the fixed monthly amount.
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More Details
Category
Solar
Price
$154
Quote Date
June 26, 2025
Location
New York
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