Renewable energy is said to be a boon to a sustainable and energy secure future, but there are constraints which prevent their commercial and domestic usage on a large scale. Two issues that solar energy is facing at the moment are; firstly expensive solar panels and secondly the storage factor. However, these constraints could soon be eradicated.
American Energy Company “SolarCity” have devised a way which allows you to save the huge expense which initially is required to install a solar panel. Wondering how? They now provide the expensive panels on lease. This way a person can enter into a contract and lease the accessory against some monthly fee. The plan’s structure is forged in a way that the monthly rent is cheaper than that of the electricity bill would otherwise be. Hence, one can save money and power their homes on solar energy without disturbing their budget.
The company also has announced its plans to soon provide solar batteries on lease as well. The objective of the action is to store the energy from the sun in batteries from places where it is cheap & easily available and provide it to energy starved places. It can also provide backup during grid failures.
The idea behind the business is quite unique and soon may spread like fire in the forest. If followed successfully the idea would lower energy costs and also lower the demand for power grids.