As utility rates continue to rise and Congress moves toward phasing out federal solar incentives earlier than expected, many homeowners are feeling the pressure to act quickly. Still, some hesitate due to concerns about the upfront cost.
The great news? There is a way to go solar without paying anything upfront—and it’s called Third-Party Ownership (TPO).
What is Third-Party Ownership?
In solar energy, TPO refers to an arrangement where a solar provider (the third party) pays for, owns, installs, and maintains the solar panel system on your home. Instead of purchasing the system outright, the homeowner either:
- Enters into a Power Purchase Agreement (PPA), purchasing the electricity produced by the panels at a lower rate.
- Or sign a solar lease, paying a monthly fee to “rent” the system and use the energy it generates.
This “solar service” model is ideal for homeowners who want the benefits of solar—lower bills, a smaller carbon footprint, robust warranties, and increased energy independence—without assuming the financial or maintenance responsibilities of owning a system.
I often tell families, “Why not enjoy all of the benefits of solar-power without any of the risks?”