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If you’ve pondered outfitting your home with solar energy, consider being among 100 Philadelphia homeowners to install solar panels with no upfront costs under a pilot program allocating $35,000 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 significant savings on their 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.
Following the completion of the pilot program, the offer will be extended to an additional 5,000 Philadelphians.
Qualifying homeowners will:
- Receive a $250 sign-on bonus.
- Enter into a lease agreement for twenty years — the upfront costs and maintenance will be covered at no cost to the homeowner.
- Reduce electric bills by as much as 50 percent for the first two years of the lease.
- Save an average of $15,000 over the course of the twenty year 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.