Latest news with #LightReach
Yahoo
31-05-2025
- Business
- Yahoo
Company develops service that will install solar panels on your home for no money down — here's how it works
Homeowners interested in going solar can get panels installed without the cost of investment. Solar energy company Palmetto is helping consumers save money on clean energy through its leasing program. While the initial price tag for solar installation can dissuade some homeowners, the LightReach energy plan aims to minimize costs upfront. Palmetto described LightReach as "an innovative approach to home energy management for those who value the financial and environmental benefits of rooftop solar but want the ease of an affordable monthly plan." With LightReach, potential savings are calculated, and a specific solar plan is designed for home installation. The plan can be tracked through a personal solar dashboard. Installing solar panels provides many benefits for homeowners. According to the U.S. Department of Energy, solar panels can lower monthly utility bills and increase home value. In fact, one study showed that solar increased the value of a home by about $15,000 on average. There's also the environmental impact. Solar panels, in addition to other home upgrades like smart home technology, significantly reduce heat-trapping pollution. According to the Solar Energy Industries Association, there are more than 200 gigawatts of cumulative installed solar electric capacity in the United States. That's enough to counteract more than 222 million metric tons of CO2 emissions. In the r/solar subreddit, a solar advocate initiated a discussion about owning versus leasing through companies like Palmetto. "Let me start by saying ownership and leasing a solar system are both excellent ways to go solar," the original poster prefaced before listing pros and cons for both options. In the dozens of responses, many Redditors shared their own experiences with going solar. Some mentioned that their solar decisions were based on a variety of factors, including availability and price. "All kinds of buying/leasing solar have their positives and negatives," one commenter wrote. "The main thing I would say to keep in mind, is that you need to do your due diligence and figure out what is best for the specific situation." If leasing isn't the right move for homeowners, EnergySage has free tools that provide estimates on buying and installing panels. It's a helpful resource that makes it easy to compare quotes. What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Express Tribune
17-04-2025
- Business
- Express Tribune
A first in the Solar industry: US company introduces affordable panels with zero upfront costs
Listen to article North Carolina-based clean energy company Palmetto is shaking up the solar market with its new 'LightReach' program, offering homeowners solar panel installation for no upfront cost. The innovative business model allows customers to lease solar panels through affordable monthly payments, with Palmetto retaining ownership of the panels and handling installation, maintenance, and insurance. The company guarantees customers will save money from day one. 'We're guaranteeing that the customer is going to save money when they lease with us,' said Nathan Healy, Palmetto's Vice President. The LightReach plan includes a 90% solar production guarantee and 25-year equipment protection. After assessing a home's solar potential through its online platform, Palmetto customizes an energy savings proposal. Once approved, the company manages the entire process—design, permits, installation, and activation—using its network of over 600 local installers. Backed by $1.2 billion in new funding, Palmetto has removed one of the biggest barriers to solar adoption: cost. The company reported $6.4 million in customer savings in 2024, its first full year of business under this model. CEO Chris Kemper calls Palmetto's mission 'the Apollo project of our generation,' aimed at driving mass adoption of affordable clean energy and achieving national energy independence. Beyond financial savings, solar adoption also reduces reliance on fossil fuels. According to the University of Michigan, residential energy use accounted for 9.2% of US carbon pollution in 2022. Solar panels offer a clean, emission-free alternative. Palmetto's platform allows users to monitor real-time energy usage and production via its app, making clean energy both accessible and transparent. With no-money-down leasing, guaranteed savings, and full-service support, Palmetto is positioning itself as a leader in democratizing access to renewable energy across the US.
Yahoo
28-03-2025
- Business
- Yahoo
This revolutionary startup has unlocked the bill savings of rooftop solar without the enormous upfront costs: 'It is designed to save you money'
Solar panels produce free electricity using the power of the sun. So why doesn't every home utilize this money-saving technology? Despite the price of panels dropping in recent years — and the availability of government and state-specific initiatives providing tax incentives and discounts to encourage take-up — the upfront investment might still be too much for budgeting households. But what if you could benefit from dramatically lower energy bills without the initial financial hit? Start-up Palmetto is aiming to put the power of the sun in the hands — and homes — of more people. The company offers solar panel leases through its LightReach program, with the money saved on energy bills more than the price consumers pay for a monthly plan. First, an assessment will check electricity rates and typical household energy needs. Then, the perfect solar power system will be designed to suit. Once Palmetto has been given the thumbs up, it will design, permit, install, and activate the technology, allowing you to reduce your utility bills immediately. "LightReach is designed to save you money," Palmetto said. This allows households to make use of free, clean energy that will supplement power accessed from the local power grid without the prohibitive upfront costs. With solar energy reducing the need for grid-provided power, you can cut your reliance on expensive electricity that is likely created by burning dirty fuels — which release planet-warming gases that encourage global temperatures to rise. If you pair that energy production with battery storage, you could even avoid grid-provided energy entirely. What's more, if the grid goes down during a storm or other extreme weather event, you can keep the lights on thanks to a power-generating system that runs independently. What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind. With LightReach, you can also avoid maintenance costs and have expert monitoring of your system's performance. With some plans available for no money down, it's a great way for homeowners to help the planet without breaking the bank. One happy customer said, "Between the incentives and the monthly savings, the installation will be paid off in no time, and the panels increase the value of my house by $15,000! Can't ask for better than that." "I went with Palmetto after interviewing four solar companies and getting three quotes for a purchased solar system," another added. "Their price per kilowatt was better than the rest and they also had the best interest rate." Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
19-03-2025
- Business
- Yahoo
This game-changing startup will help you install solar panels for no money down: 'Pay less to power your home'
If the upfront cost of solar panels is hindering your journey toward energy independence, the startup Palmetto has just what you need — and you can start saving cash with no money down. Palmetto is offering customers solar and battery storage leases with no money down. Made possible thanks to $1.2 billion in funding from corporate partners and financial institutions, the startup can assume the risk of installation costs while you begin saving money on electric bills. To get started, you first need to determine whether you are eligible for the program. To do this, you just enter your address and energy bill details into Palmetto's website, and the startup will confirm whether your home is a good candidate for solar. If it is, Palmetto will put together a customized plan detailing your estimated energy savings. You can choose whether you want one of the team's advisers to contact you directly or whether you prefer to peruse your personalized proposal via email. After that, the ball is still in your court. You can decide whether you want to buy or lease the panels and have them installed by one of the startup's 600-plus local trusted contractors. All in all, solar panels save homeowners as much as $1,500 annually on energy bills. Established 15 years ago, Palmetto is removing several key barriers limiting Americans from reaping the perks of solar energy: affordability and simplicity. For one, you'll have financial peace of mind during installation. If your panels don't perform, the cost falls on Palmetto. "If something doesn't work and the panels don't produce solar, then you don't pay us," Palmetto vice president Nathan Healy told The Cool Down. The company estimates it saved its customers around $6.4 million during its first full year of providing solar leases and power-purchase agreements. Following installation, you can continue to benefit financially and emotionally through the no-buy LightReach energy plan — which promises you will "pay less to power your home" after you lock in your "predictable monthly payments." Each plan also comes with 25-year maintenance and protection, and you'll have the flexibility to transfer your contract. Beyond these perks, solar panels and battery storage can help ensure your family has power during grid outages — boosting household climate resilience at a time when supercharged extreme weather is disrupting communities around the globe. What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind. Palmetto CEO Chris Kemper told TCD that his company's mission is like "the Apollo project of our generation," in reference to the game-changing program that put the U.S. enviably at the forefront of lunar exploration and the first humans on the moon in 1969. He invited us to dream of a tomorrow where "our main energy sources are decentralized, renewable, sourced from the sun and wind right here in the USA … where individual citizens own their own energy production, protecting their homes and their families from blackout." Regardless of how you choose to get involved in a more independent energy future, it is clear people are excited about the future of non-polluting, low-cost power. "By switching to solar, we now have just one monthly payment and offset our costs by sending energy back to the grid," one solar owner shared with TCD. "Solar covers our energy use for most of the year, including cooling, electronics, yard equipment, and more." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
06-03-2025
- Business
- Yahoo
This revolutionary startup promises instantly lower energy bills when you lease solar panels: 'We're guaranteeing that the customer is going to save money'
One of the biggest obstacles for homeowners who want to get solar panels is the high upfront cost — but a new service from clean energy startup Palmetto promises that users who lease solar panels for their home, for no money down, will immediately pay less on their energy bills. With $1.2 billion in new funding from financial institutions and corporate partners, Palmetto can shoulder the financial risk of upfront solar installation costs while giving its customers access to solar and battery storage via simple energy leases. "We are guaranteeing that the customer is going to save money when they lease with us," Palmetto Vice President Nathan Healy told The Cool Down. The company's CEO, Chris Kemper, describes its mission as "the Apollo project of our generation, through which Americans achieve energy independence and sustainable energy through mass adoption of affordable clean energy." This new plan to make solar simpler and more affordable could finally remove barriers for the 78 million U.S. households that don't yet own or lease a solar energy system. "We started the company 15 years ago with the same mission we have today — to lead the world toward a clean energy future," said Kemper. After entering your address and energy bill info into Palmetto's website, you'll see if your home is eligible for solar panels (for example, does your roof get enough daily direct sunlight?). Then, Palmetto's team will put together a personalized plan with a clear sense of your estimated monthly energy savings by switching to solar. Once you've got a custom plan, you can choose to be contacted directly by one of Palmetto's energy advisers or have a proposal sent to your email. Bottom line: You won't be bombarded with individual solar installers spamming your phone. If you decide to move forward, you can choose to buy the panels upfront (which may be eligible for a tax credit) or lease the panels with no money down, with the option of Palmetto financing the installation through its new LightReach program. Palmetto contracts with one of the 600-plus local solar installers in its network to install the panels, and it also accepts the risk and responsibility for them. If you were to install home solar panels, which of these factors would be your primary motivation? Energy independence Lower power bills Helping the planet No chance I ever go solar Click your choice to see results and speak your mind. Palmetto's production guarantee means the panels must produce at least 90% of the solar energy the team promised in its proposal, Healy told The Cool Down. "If something doesn't work and the panels don't produce solar, then you don't pay us," he said. Once your solar panels are installed, you can monitor your home's energy usage in real time in the Palmetto app. Healy reported that Palmetto's leasing program, which started last year, is exploding in popularity. The company says that every day, on average, 300 households in 30 states are signing up for this type of plan. More than 20,000 households have switched to solar energy using Palmetto's leases or power purchase agreements, and the company expects that to double this year. In its first full year (2024), the company says it saved customers $6.4 million. "Homeowners are increasingly interested in leasing rather than buying expensive home upgrades like solar panels or heating and cooling systems," said Kemper. Plus, because Palmetto helps users throughout the solar process — from getting a quote to installing the panels and even maintaining them — the team also ensures the customer experience. This is key because it means the company can prevent homeowners from becoming "solar orphans," which is when customers purchase low-cost solar panels and then that solar company goes out of business or can't support their needs. That's also not likely to happen with a company with as much financial backing as Palmetto — which plans to expand internationally as well. The success of Palmetto's leasing program is one of the first steps toward that "Apollo" mission Kemper has outlined to achieve what he calls a "New Utility Revolution." Think of it, Kemper says, as the future where "our main energy sources are decentralized, renewable, sourced from the sun and wind right here in the USA … where individual citizens own their own energy production, protecting their homes and their families from blackout." And Kemper says we can't rely on policymakers or politicians to lead the revolution. Rather, it's individual consumers and companies like Palmetto that he sees "driving true innovation with pure will and force." One step at a time; that's what Healy says powers the Palmetto team every day: "Our guiding North Star is democratizing clean energy and making clean energy accessible for all." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
