Yesterday we had the guys from Imagine Energy in to give us an update on options for residential solar power installations in the Portland area. Though it has been only 18 months since Don and I got ours installed, a whole new program has become available. A California company, SunRun, has a lease program, driving the entry cost into such a project much lower.
SunRun leases you the panels for 20 years. You pay an up front, one time lease fee. This fee can vary a bit by which is your power company, but is somewhere around $6000. The system is installed. As with ownership solar, there are certain requirements as to your electric panel and system, and the condition of the roof. You get the Oregon State Residential Tax Credit of $6000, paid out in $1500 over four years. You get any benefits of net metering; that is your power company buys any extra power you generate at the same rate at which they sell you power.
SunRun gets, and re-sells on the secondary market, the remaining tax credits and incentives. SunRun maintains and monitors your system for the life of the lease. At the end of the lease period there is a buy out option. Preliminary calculations show this buy out will be low as Sun Run has little interest in paying to remove the panels from your roof, and ending up with a supply of used solar panels.
Wow. What a deal. You still get the same smooth, professional service from Imagine Energy; the one point of contact we found so nice. There are even some financing options available for that initial $6000 cost. Umpqua Bank has a nice option through their Greenstreet program. Get in touch with me, or Josh Halley at Imagine Energy (j.halley@imagineenergy.net) for more information.
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