Posted: Friday, 19 March 2010 12:05PM
New Lease Program Aims for Affordable Home Solar Energy
Tom Mongelli Reporting
thomas.mongelli@mrgnj.com
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Solar panels save money, but installation and maintenance can cost tens of thousands of dollars. At New Jersey Resources in Wall, a new program aims for affordable home solar power - through a lease arrangement.
N-J-R Home Services staffers hope to bring about 130 homeowners into the $4 million program. The company pays installation and maintenance. Homeowners pay about $52 a month over 20 years, saving about $100 a month in energy costs. According to spokesman Mike Kinney, there are a couple of requirements.
"The home must have a south-facing roof in order to draw maximum exposure from the sun," Kinney says, although in certain instances roofs with southeastern or southwestern exposure may be eligible. The company supplies consultants to determine if the conditions are optimal.
"Additionally, you want to have a home that is free of any obstructions such as trees or other things that might obscure the sun from the roof, " he continues. "And lastly, you must have a roof that is no more than five years old, so the length of the lease will coincide with the longevity of the roof."
Homeowners who can meet the requirements begin saving as soon as the interonnect switch to the electric meter is flipped. When the term is up, lessees can renew or buy them. The only rub is relocation.
"If a homeowner moves," says Kinney, "the solar panels stay with that home and will continue to provide those benefits and savings to customers who live in that residence."
Energy produced is eligible for reneweable energy credits, which can be sold to other entities trying to meet their renewable energy requirements.
To find out if you're eligible, call NJRHS: 877-466-3657.
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