Philadelphia Pilot Program to Provide $3.5 Million in Solar Panels to 100 Homeowners with No Upfront Cost
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An exciting new program is available in Philadelphia to provide 100 homeowners up to $35,000 of solar panels with no upfront costs. This program aims to make solar energy affordable and practical for Philadelphia residents. Through a first-of-its-kind lease program, homeowners can lower their carbon footprint while reaping sizeable savings on their ongoing electric bill.
The GREENandSAVE Home Optimization Service Group is promoting this offer to the first 100 homeowners to participate in this program. So far, just over forty have been selected. Installation of the solar panels will begin this fall. To be considered, homeowners must live in Philadelphia, have a flat roof and a clear view of the southern sky. Residents satisfying all three criteria, can register or request more information online.
Once this pilot program is complete, the goal is to roll the program out to a total of 5,000 homeowners in Philadelphia.
The highlights of the program are as follows:
- Homeowners will receive a $250 sign-on bonus.
- Homeowners will enter into a lease agreement for twenty years — the upfront costs and maintenance will be covered at no cost to the homeowner.
- A homeowner’s average electric bill will be reduced by fifty percent for the first two years of the lease.
- Savings are further realized in subsequent years when the homeowner’s electric bill is frozen for the remainder of the lease as the rest of Philadelphia experiences rate hikes when legal rate caps are removed in 2011.
- Homeowners will save an average of $15,000 over the course of the twenty year lease.