Thinking about going solar in Los Angeles? We recently wrote about how you can take advantage of Los Angeles solar rebates and other incentives like group purchasing. But if you’ve decided that the up-front cost of solar power is too steep for you at the moment, there’s another alternative—getting solar panels for free through a solar power purchase agreement (PPA) or solar lease.
Solar for $0
Los Angeles is an ideal setting for solar power, thanks to abundant sunshine. That’s why LA is one of the cities lucky enough to have access to third party ownership or “pay-as-you-go solar.” How does it work? A third party installs solar panels on your home, and you won’t pay a penny for the panels or the rest of the solar system equipment.
Who owns solar panels in a PPA or solar lease?
The third party (like SunRun, Sungevity, SolarCity, Clean Power Finance, One Roof, NRG, etc etc) will keep ownership of the panels, so they can benefit from incentives like the solar rebates from LADWP. As a homeowner, you can relax as the third party takes care of the whole process—installation, permitting, and any maintenance if it’s needed.
Will I still pay for electricity?
With a solar PPA, you’ll pay the third party for the electricity you use, rather than LADWP. The advantage is that as regular electricity rates continue to skyrocket, you’ll pay a special fixed rate instead. The third party will charge a set initial rate, and then add small increases over time (or not – there are flat options from some places as well).
Is paying for solar panels a better investment?
Over the very long term, you can save more money by paying for solar panels yourself. Once you’ve used the solar panels for several years, you’ll have saved enough money on electricity to cover your initial costs. At that point, as you continue to save money on electric bills, it’s all money in your pocket. See more on the ROI of solar in Los Angeles here. Solar power also increases the value of your home. But if you can’t afford a solar system right now, a solar PPA or lease is a perfect alternative. You can have the advantages of solar power without the initial cost.
Solar lease deals
One Block off the Grid (1BOG) can help you quickly learn if your home is a good match for solar power, and then connect you with the best deal from which ever third party provider is best for you. And it’s all free. Sign up to learn more.