The idea of renting products that would otherwise require a large sum of up front capital has been around for a long time. Living in an apartment is probably the most common form of renting and it is widely accepted across the US and most of the world today. With the price of installing a complete solar system nearing $20,000 for most homeowners, renting solar panels is an idea that we can expect to catch on in the coming years.
In one such example, a company called MMA Renewable Ventures acts as a middle man to provide solar panels nearly free of charge to large businesses. They help to coordinate the deals between solar panel companies, investors, and the organization that wants to go solar. In this way, the company just redirects their electricity bill to MMA and the extra profit is used to pay off the costs of renting the technology. Read the full article in Business Week and watch the video below featuring Nellis Air Force Base and their 14 Megawatt solar PV installation in Nevada.
Under other models, home owners will rent solar panels by directing the same amount of money they used to paying for dirty energy to leasing programs. By renting solar panels to residents, installing and maintaining them, and providing a monitoring system, solar leasing companies are empowering residents to go solar with very little up front investment.
