What do you think about the company that wants to "rent" you solar panels on your roof?

Question

Has anyone tried that approach? What is your experience?

Answer 1

This is a fantastic approach toward solving the high cost barrier of solar panel installation.  There are several companies that are now offering this program.  Essentially, the company comes out and installs the solar panels on your roof.  Instead of having to pay the thousands of dollars it would normally cost to pay for the panels and installation, the providers simply have you pay the amount that you would have ordinarily paid to the utility company direct to the provider.  It's like a long-term installment loan for the panels, and you pay for it the same way you had already been paying for your energy.  The upside is that the environment wins at the same time, and you are reducing your carbon footprint.

Answer 2

without knowing the company name to do a background check on the company your question can not be answered

Answer 3

Sadly, it's a scam.  Go here, enter citizenre into the search bar and read the comments posted in response to the three articles.  It's very long, but all your questions will be answered.

www.renewableenergyaccess.com

Answer 4

Sounds like a good idea at first, but you won't make much money in the long run.

Answer 5

As other's have said it is a good idea because it eliminates the up front cost of installing solar panels.

Big business is doing something similar.  Big finance companies like Merril Lynch (I think that's the one) have set up financing schemes where they buy the panels and installation from a solar company, and then charge the end user like a factory or office building for the power.

Also, the city of Berkeley CA has just passed a local bill to finance the insallation of solar panels for any homeowner who wants it.  They will sell bonds to finance it.  The homeowner pays off the installation each year when they pay property taxes.   If they sell the house, any remaining bill will be payed off by the next owner.  This is a win win deal.  Other communities should do the same thing.

Answer 6

Sounds like you're talking about Citizenre.  I've signed up for their program.  They're still starting up and haven't installed any solar panels yet, so it's tough to give them a review.  

In principle it's a good idea though.  You don't have the huge initial expense, they take care of the installation and maintenance, and you get a fixed rate on the energy provided by the solar panels.  In the meantime you're getting emissions-free energy and your electric utility provider rates will gradually increase, so you're saving money in the long run.

As long as the company can deliver on the solar panels as promised, I think it's a great deal.  That remains to be seen, but in the meantime they don't ask for a dime, so there's nothing to lose.

Answer 7

Sounds like a scam to me.  If they are photovoltaic panels, lots of issues. Will it save you $ or cost you more for energy? Does your roof have the structural integrity to hold them up? What electrical modifications are required for your electrical service entrance, and who pays for that?   Does your local electric co permit reverse metering, if your panels produce more electricity than you need?