Energy users in Massachusetts, Maryland, New Jersey, and New York now have an opportunity to benefit from their own rooftop solar power systems without the high upfront costs and complexity of ownership following a collaboration between Constellation and U.S. residential leasing provider, Sunrun.
Under a typical lease agreement, the upfront installation costs of rooftop solar PV systems are paid for by Sunrun. The company insures, monitors, maintains and guarantees the performance of the system for 20 years. Customers purchase power generated from their rooftop PV system at a lower price than their current utility rate. In addition, they also continue to receive electricity supply from the grid, if required.
There are only three simple conditions customers have to meet to be eligible for the lease: they must own the house, spend approximately $100 a month on their electricity bills, and have a roof in good condition with favorable sun exposure.
With more and more companies competing on the residential solar market, clean energy solutions become more affordable for the average U.S. homeowner. A report by Solare Energy Industries Association (SEIA) and GTM Research issued last week found that residential system prices fell to $3.50 per watt last year.
The analysis shows that soft costs in the residential solar sector have actually risen 7% over the course of the past 12 months, while at the same time residential hardware costs have dropped 16%.