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Can you lease solar panels in Arizona?
You don’t have to buy expensive panels in Arizona. Instead, you can purchase affordable and clean solar electricity for your home. Over 90% of Arizona homeowners who go solar today choose a solar lease instead of purchasing a system.
Is solar panel leasing a good idea?
Leasing solar panels for your home is not a good idea from a financial perspective. We simply do not recommend it. In most cases, you’ll save much more money in the long run by exploring other financing options like an FHA Title 1 loan or a traditional loan from your personal bank.
How much does it cost to lease solar in Arizona?
As of July 2021, the average cost of solar panel installation in the state of Arizona is $2.54 per watt. Since the average solar system size in Arizona is 5 kilowatts (5,000 watts), the average cost of a solar panel system in AZ is $12,700 before any federal or local incentives according to EnergySage.
How much does it cost to install solar panels in Tucson?
As of July 2022, the average solar panel cost in Tucson, AZ is $2.43/W. Given a solar panel system size of 5 kilowatts (kW), an average solar installation in Tucson, AZ ranges in cost from $10,328 to $13,972, with the average gross price for solar in Tucson, AZ coming in at $12,150.
How does solar lease work in Arizona?
The way leasing work isn’t much different than leasing a car. You pay monthly to “borrow” the panels on your house, typically for a 20 year term. Instead of cutting a check to APS or SRP every month, you pay a fixed amount every month to the owner of the solar panels.
What is the downside of leasing solar panels?
A big disadvantage of leasing solar panels is the long-term savings opportunity. Since you pay the solar company every month for the length of your lease, you will save money on your energy bills, but it’s typically not as much in the long-term compared to owning the panels yourself.
How much do solar panels cost for a 1500 square foot house in Arizona?
Average Cost of Solar Panels in Arizona per Square Foot
| House Size | Average Cost (Installed) |
|---|---|
| 1,000 sq.ft. | $4,300 – $20,240 |
| 1,500 sq.ft. | $5,060 – $25,800 |
| 2,000 sq.ft. | $8,600 – $25,300 |
| 2,500 sq.ft. | $12,900 – $30,360 |
Is it better to lease or finance solar?
Bottom Line. Owning or leasing solar panels both allow homeowners to enjoy utility bill savings while helping the environment. Leasing is better if you want to get started with solar without a large initial investment while owning is the best way to save money long-term.
How do you negotiate a solar lease?
Do not be afraid to negotiate with the solar lease company. Like any rational buyer, they want the best deal and are probably not going to offer their best terms upfront. The most obvious lease term to negotiate is the lease payment. Solar leases are based upon an annual rent-per-acre basis.
Can you get free solar in Arizona?
You automatically qualify for free solar panels if you have a credit score of 650 or better. Almost all solar companies offer free solar panels if you meet solar panel loan qualifications.
How do you get out of solar panels?
There Are Three Ways to Break a Solar Panel Lease Simply prepay the remaining amount you owe on the lease. Study your contract. Most solar panel lease agreements include a buyout price. You may have to wait to buy out until after the lease has run for 5 to 7 years.
How much does solar power cost in Tucson?
The cost of your solar power system will vary depending on the size of your house and how much energy you need the system to produce. Prices range from $7,000 for a small system up to $28,000 or more for larger systems, and the average cost for a system in Tucson is around $15,000.
What type of solar panels do I use in Tucson?
Most residential solar energy installations in Tucson use polycrystalline or monocrystalline solar panels. Which one you use may depend on your location, solar energy system provider and budget. Whether you purchase or lease your solar power system, your chosen provider will install the panels and other equipment.
Should I lease or buy a solar energy system?
While the lease costs will prevent you from receiving the same savings as owning a system, leasing can be a good way to get a solar energy system for the minimum upfront cost.
Where does Arizona rank in solar power?
Arizona ranks 3rd in the U.S. in solar power use, and half a million homes in the state use solar energy to power their homes. Tucson is one of the leaders in solar power and has the second largest cluster of solar companies, behind only Phoenix. Solar power systems are becoming more affordable, and some companies offer systems for no money down.