My Generation Energy has consistently opposed the residential solar leasing option. Is this stubborn or is it insightful? Perhaps both.
Our position is not for lack of opportunity. We have been tempted to enter the so-called “solar leasing” business. We’ve had inquiries from the national financing companies promoting these programs; we’ve had potential customers asking if we “do that thing where they get ‘free’ solar panels.” Frankly, it would have been easy to say “sure, we do that.” But we have held steadfastly to the belief that these programs are not in the best interest of our customers and for that reason we have chosen not to participate in them. This was a strong stand to take over the past few years. During that time, our competitors converted to pushing the solar lease as a first option, the state-wide trend moved toward this model, and the buzz in the industry focused on the growth potential of leasing. With our refusal to participate in this practice, we have indeed been swimming against the current.
However, in 2013 that trend toward solar leasing lost momentum and, in fact, reversed course. Recent statistics show that the percentage of leased versus owned systems on Massachusetts homes has declined. Further, a just-released study by the Massachusetts Department of Energy Resources concludes that owning a system delivers substantial financial benefit compared with leasing the same system. This is welcome news. And it reinforces our mantra to conduct business in a way that delivers quality service and value to our customers.
My Generation Energy is committed to remaining our region’s premier solar installer. We continue to do that by keeping the money local and maximizing our customers’ benefits.