How can poor people afford solar systems?
There is no denying the fact that using solar power tends to cut down your electricity bill every month by quite a good margin. So, this infers that it is rather the people with less income who need it the most. However, one of the most common bottlenecks is the massive upfront cost which is a part of the solar panel installation. This brings us to the hot question as to how can poor people afford solar system.
The option of solar lease
If you have heard of solar lease, you must already know as to how there are several financing options which can be used and upfront payments can be avoided.
There are several pay as you go model for solar power which mean that users only need to pay for the electricity consumed and when they have managed to consume enough power based on their home solar system, they end up owning it. Definitely, these act as extra incentives for people who want to go solar but do not have the means for it.
The Tax Benefit
In the USA, you have the solar investment tax credit which is currently offering a 30% federal tax credit that can be claimed against the tax liability with regards to solar energy property. While the poor might not have ample resources to build a whole business modelled on solar energy, it is these little tax benefits which inspire hundreds of people to make solar powered homes that could offer shelter to the poor as well. There are also non-profit organizations which are working to power up homes of low income families with solar energy.
Learning about the benefits
When people hear about solar panels, it sets off their alarm as they think of the massive cost which would be associated with them. However, it is important to educate such people about the long-term benefits and the savings which they can have when they choose to go solar. When poor people are encouraged to go solar and are given the best of incentives to do so, it is likely that they will opt for the change. With the environment going through the energy and resource crisis, the government needs to enforce better measures to persuade people to go solar.
There are plenty of companies offering variable financing options for solar lease. One needs to improve their reach and also sanction loans to poor people so that they could go solar and do their bit to save the environment and cut down their expenses simultaneously.