Stewart and Jackie Templer at their Arizona home, with the solar panels they are leasing.
Stewart Templer loves the shiny new solar panels on the roof of his 1,875-square-foot ranch-style home in Surprise, Ariz.—especially since they didn't cost him anything. He's leasing the system from SolarCity Corp. under a 15-year contract.
The system, installed in May, has helped the retired physical-education teacher and his wife cut their monthly electricity cost by nearly 35%. Instead of paying the local utility an average of $130 a month, he says, they write a monthly check to SolarCity for $68 and pay $15 to $20 to the utility for the extra juice they need, such as at night when the panels aren't producing electricity.
The leasing cost for their five-kilowatt system will tick upward in coming years, but won't exceed $102 a month, Mr. Templer says.
"Anybody who lives in this area who doesn't do what we've done is crazy," says Mr. Templer, who is 72. "The sun is out 300 days a year here, so why not use it?"
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