AllEarth Renewables, a solar manufacturer and project developer, has created a new program to finance solar at no cost to homeowners, businesses, nonprofits and public entities in Vermont.
The residential program offers a lease for homeowners to net-meter with solar at a rate equal to or below their electric rates, with the opportunity to fully own the system at a reduced cost after seven years. These projects will consist of between one to four of the company's AllSun solar trackers.
The community-scale solar lease features a similar no-cost program with a guaranteed electric bill savings of 10% annually for larger customers, such as businesses, schools, municipalities and other institutions. These projects will consist of 10 or more trackers.
Third-party financing models now make up the majority of solar installation nationally, but are not normally available throughout smaller markets, such as Vermont, the company notes.