Sol Systems, a Washington, D.C.-based company, has long focused on making solar systems more affordable for customers. Now the company is launching a solar leasing program that requires almost no upfront investment from clients.

Solar leasing programs are catching on around the country because they allow homeowners to install solar on their roofs without paying for it up front or worrying about maintaining or caring for the panels long-term. Customers simply pay a fixed lease amount to the company that installed and maintains the panels while enjoying a reduced energy bill.

“We estimate that our clients will save about 15 percent on their monthly energy bills,” said Sudha Gollapudi, Sol Systems’ director of strategic relationships.

Those savings are expected to increase dramatically over the years as energy prices continue to rise, Gollapudi said.

“This is something we’ve always wanted to do,” Gollapudi said. “And we think the time is right and that the pilot program will be a success.”

While solar leasing programs are growing in popularity around the country, Gollapudi said they are uncommon on the East Coast.

“It’s a very new concept in this market,” Gollapudi said of Washington, D.C. “I think we’re the only ones doing it right now.”

Sol Systems has and continues to help home and business owners finance their own solar projects primarily by aggregating their Solar Renewable Energy Credits.

The credits represent the clean energy benefits created by a solar electric system, according to Sol System’s web site. Once a system has generated 1,000 kilowatts of power, it generates a credit. Electrical suppliers and energy companies can buy those credits to meet their renewable energy portfolio standards.

Entering into the leasing business is another way the company aims to make solar technology attainable for average Americans, according to the company’s press release about its new program.

Sol Systems will work with six or seven local solar installers and manufacturers in the D.C. area, Gollapudi said. They will be installing traditional crystalline photovoltaic solar panels that are typically regarded as the most efficient in the industry.

“Our partners are really excited,” Gollapudi said. “And we’re really excited to start this program.”

Image courtesy of Sol Systems.