USA: Affordable Solar announced that its retail business is offering a solar panel leasing program to residential customers in New Mexico. For less than the monthly cost of their electric bills, many New Mexicans can now use renewable solar energy to help power their homes.
Affordable Solar's new solar financing program, in cooperation with Sunnova Energy Corp., will provide New Mexico homeowners with solar power systems that can allow them to save money on energy costs from day one without paying the upfront cost of the system. The leasing program allows customers to select the solar panels and system sizes that best meet their energy needs and budgets.
The program includes a solar lease option that includes installation, monitoring, repairs and insurance for a low monthly fee. As an example, a 4.5-kilowatt residential solar system, which is typical for a 3 bedroom home, would initially cost approximately $79 a month, with no upfront cost. The $79 per month will be offset by a decrease in their electric bill. Customers could purchase the same system outright for $18,000, not including federal and state tax credits.
The new solar lease program is only available to New Mexico property owners through Affordable Solar. Currently, 75% of Americans have access to solar energy through a solar lease. Now New Mexicans can lock in their cost of electricity, paying for tomorrow's electricity at yesterday's prices.