US: Solar leasing installations continue to grow

According the PV Solar Report, solar leasing grew by 67 percent in Q3 2011 with installations worth USD$157 million. Cash purchases, meanwhile, grew 17 percent.

The cities with the largest growth in households signing up to solar leasing programs were, in descending order, San Jose, Bakersfield, Fresno, Simi Valley and Corona. The major cities of San Diego and San Francisco both made the top-ten for solar leasing uptake.

PV Solar Report’s Stephen Torres said in a statement that the results indicate that Californian homeowners prefer solar leasing to purchasing them upfront. "Business models like SunRun’s are not only allowing families to switch to solar without the high upfront cost of a cash purchase, but also helping local economies increase revenue and create jobs. We’re excited to see the growth trend continue."

The November edition of pv magazine has an article on solar leasing and "green banks".