Can’t afford the upfront costs of rooftop solar panels, but really want them anyway? No problem, especially if you live in Maryland, New Jersey, New York, Massachusetts, Ohio or Pennsylvania and get your power from Constellation Energy.
The electric company announced on Wednesday a new residential solar leasing program to customers in those states with a choice of a low down payment or a 20-year prepaid lease. Customers will also be able to choose the solar module that best fits their needs and budget.
“A solar installation can help supplement 40-50% of household electricity use,” said Kevin Klages, president and CEO of BGE HOME, Constellation’s Maryland subsidiary that will manage the solar contracts in that state.
And for customers struggling to make ends meet, the leasing program can help with the initial investment in solar power that could potentially save them in electrical bills for years down the line. In states with substantial renewable energy tax credits (RECs) those savings could be multiplied.
Google recently partnered with California-based SolarCity to create a $280 million fund for residential rooftop panels. The fund would also help consumers with the upfront costs of installations in return for monthly pay-back fees. Watch the video: Google Invests $280 Million In Rooftop Solar Panels.
Constellation made an equity investment in Astrum Solar in June 2011 and BGE HOME began then to sell residential solar modules through Astrum.
The Maryland based company, will provide sales, installation and service support for the BGE Home residential solar program, according to Klages.
“The key advantage of Astrum Solar, rather than a large scale distributor, is the ability to deliver personalized service and electricity savings to our customers,” Klages told Breaking Energy.