Solar project leasing is an arrangement where a solar developer or a third-party company owns and installs the solar energy system on a customer's property. The customer, referred to as the lessee, pays a fixed monthly or annual fee to use the solar system and consume the electricity generated by it.
Advantages of Solar Project Leasing
Lower Upfront Costs
With solar leasing, customers can avoid the significant upfront costs associated with purchasing a solar energy system. This makes solar power more accessible to a broader range of individuals and businesses.
Maintenance and Monitoring
In many leasing agreements, the solar provider is responsible for system maintenance and monitoring, alleviating the lessee's burden of managing the equipment.
Since the lessee pays for the energy produced rather than the equipment itself, they can start saving on their electricity bills from day one.