Lawmakers say leasing companies may be overstating the economic benefits of signing a long-term solar lease
Three Democratic U.S. Representatives from Arizona are warning that leased rooftop solar panels might not be a good investment for homeowners.
The lawmakers sent a letter to the U.S. Consumer Financial Protection Bureau earlier this month with concerns that leasing companies "may be overstating the economic benefits of signing a long-term solar lease while failing to disclose important information" in their sales and marketing.
The leases commonly have terms of 20 years and require monthly payments. Participants must calculate whether those payments will be less than the amount of money they save by generating much of their own electricity with solar.