Installers for South Coast Solar install solar panels on the roof of a home n New Orleans, Wednesday, Nov. 12, 2008. Solar CEO Tucker Crawford credits the business boom in solar power to the tax breaks, whiche he called the "most aggressive tax credit (package) for residential solar in the country." (AP Photo/Bill Haber)
Denver (AP) - Colorado homeowners who want to go solar now have a chance to lease the equipment rather than buy it.
San Francisco-based Sunrun announced Tuesday that it will start offering leases in Colorado following approval of a law allowing loans for solar equipment to be made to a third party. Sunrun will partner with three Colorado solar installation companies, which will own the panels.
Company officials say homeowners sign a lease, then pay as little as $1,000 as a one-time installation fee, plus monthly bills for the electricity.
Gov. Bill Ritter says he believes the law clearing the way for the solar leases will help lower homeowners' energy costs and create renewable energy jobs.
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