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Three in Four New Rooftop Solar Installations in California are Now Leased, not Purchased
http://climatepolicyinitiative.org/press-release/three-in-four-new-rooftop-solar-installations-in-california-are-now-leased-not-purchased/[font face=Serif][font size=5]Three in Four New Rooftop Solar Installations in California are Now Leased, not Purchased[/font]
July 25, 2013
[font size=4]New Study Shows Cost to Federal Taxpayers for Leased Systems has Declined, Indicates Ways to Further Lower Taxpayer and Consumer Costs[/font]
[font size=3]SAN FRANCISCO – A new study by Climate Policy Initiative (CPI) finds that most homeowners in California are no longer purchasing the solar panels on their rooftops, they are leasing them; over 75% of California’s new residential solar systems in 2012 were leased as compared to less than 10% in 2007. The study, titled “Improving Solar Policy: Lessons from the Solar Leasing Boom in California,” indicates that while incentives for leased systems initially cost federal taxpayers more than incentives for purchased systems, the cost gap has disappeared over the last two years.
In California, a number of companies offer leases for rooftop solar, which are attractive to consumers interested in reducing their electricity bills without having to finance and own a system. This opportunity has emerged as a result of steep cost reductions for solar panels, federal financial incentives, state policies, and business innovation.
Not all states allow solar leasing. Other states — including Georgia and South Carolina — are currently considering whether or not to allow it. The CPI study, which employs empirical methods to analyze costs to taxpayers and consumers, finds no evidence to support prohibitions on solar leasing based on California’s experience.
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July 25, 2013
[font size=4]New Study Shows Cost to Federal Taxpayers for Leased Systems has Declined, Indicates Ways to Further Lower Taxpayer and Consumer Costs[/font]
[font size=3]SAN FRANCISCO – A new study by Climate Policy Initiative (CPI) finds that most homeowners in California are no longer purchasing the solar panels on their rooftops, they are leasing them; over 75% of California’s new residential solar systems in 2012 were leased as compared to less than 10% in 2007. The study, titled “Improving Solar Policy: Lessons from the Solar Leasing Boom in California,” indicates that while incentives for leased systems initially cost federal taxpayers more than incentives for purchased systems, the cost gap has disappeared over the last two years.
In California, a number of companies offer leases for rooftop solar, which are attractive to consumers interested in reducing their electricity bills without having to finance and own a system. This opportunity has emerged as a result of steep cost reductions for solar panels, federal financial incentives, state policies, and business innovation.
Not all states allow solar leasing. Other states — including Georgia and South Carolina — are currently considering whether or not to allow it. The CPI study, which employs empirical methods to analyze costs to taxpayers and consumers, finds no evidence to support prohibitions on solar leasing based on California’s experience.
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