Solar Panel Lease Programs for Arizona

Most of the companies will be able to provide the solar panels on lease for home installations in Arizona. These solar panels are offered by a California based SolarCity Corp. National Bank of Arizona is provided the financial support for this purpose.  The bank is buying the solar panels from SolarCity by spending an amount of $25 million. These panels will then offer to the Phoenix homeowners on lease with no down payments. According to an estimation of SolarCity, these solar panels will fulfill the 60 to 80 percent requirements of home electricity.

Cost of solar panels

Solar panels are nearly fulfilling the recent requirement of electricity for homeowners. Therefore, these are considered as a promising source of energy. Moreover, consumers can save the money on their electric bills as solar panels suggested as the production of low cost electricity as well.

However, initial cost of solar panel installation might not be affordable for the homeowners. But, it is suggested that solar panels can be affordable for home use with improved technology and financial offers. For this purpose, solar panel lease programs are offered for its installation.

Beneficial for low income residents

Lease programs of solar panels can be useful for the Phoenix residents with low income. All the applicants for these solar panels will be assessed on credit worthiness. Therefore, income of the applicants might not be considered. Moreover, APS customers can also save the 15 percent of their current utility bills with the monthly payments of lease program.

Revenue collection

The bank will produce revenue in two ways. Firstly, it will generate by receiving the lease payments. Secondly, it will collect from the rebates and tax credits those would offer by government for solar panel installations.

Salt River Project customers

Chris Robb, the executive vise president, recently announced that Salt River Project customers can also become the beneficiaries of this program. However, rebates on solar panel installations for them should be lower. It is expected that Salt River Project customers can save nearly 10 percent on their electricity consuming bills. So, these programs are considered as very useful for the homeowners.

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