At Brower Mechanical, we work hard to bring our customers products that will enhance their lifestyle, lower their energy costs, and limit their environmental impact.
We bring practical solutions to the needs of today and tomorrow. The solar revolution is about taking control of your energy future.
We want to make solar power ownership easier than ever.
What’s the difference between a Solar Lease vs. a Solar Purchase?
The trade-off homeowners should consider is the size of the up-front payment versus the long term savings. Buying a system outright has the greatest long term savings, but requires a big up-front cash (or finance) payment. The alternative is much smaller monthly lease payments which result in almost instant savings over the your existing energy bill, but result in less money saved over 20 years when compared with an outright purchase. It depends entirely on which approach better matches your financial situation and financial goals.
The question is...Do you want to buy your solar power system
outright or lease one?
Solar Lease Program:
• There is no down payment, $0 down.
• You’re locked into 15 years or more years, which is transferable to a new owner or home.
• You pay a lease payment plus any extra power you need buy from your electric company. So, solar panel power is technically free, but you have a set lease payment that rises 3% annually.
• As your solar provider, Brower Mechanical will cover maintenance and repairs and monitor your system.
• Similarly, you don’t get tax benefits or rebates or Renewable Energy Credits (RECs).
• You have an option to buy later or at the end of your term for a set residual price. After the lease is at an end, we offer the system for $1.00.
• You need to have a good to excellent credit rating of at least 700 FICO score.
• You are always tied to the grid, so any residual electricity needs are covered by your utility.
The advantages of buying a system outright are that the panels usually continue to produce energy well past their 25 year warranty, they often require very little maintenance beyond washing the solar panels twice a year, and once they pay for themselves everything you save after that is yours to keep.
The solar lease is designed to address two concerns of homeowners considering solar: the large up-front cost and the hassle/obligation of ongoing maintenance during the life of the system.
We are now offering solar leases and take on all maintenance and repair obligations–in return for a the homeowner’s long-term (10-15 year) commitment to lease the solar equipment at a fixed monthly rate (solar lease).
In order to make the business model work, we must raise significant amounts of capital, normally from tax equity investors or from commercial lenders.
This capital, often referred to as “project finance”, allows our company to make the up-front purchase of solar components and to pay for installation. We collect the federal “Solar Investment Tax Credit”, as well as any applicable state/local incentives associated with the project and handle the paperwork associated with installation and permitting of the new PV solar system.
