Aug 28, 2009 5:03 pm US/Eastern
Green Scene: Urban Eco Electric
PHILADELPHIA (CBS 3) ―
A new company in Philadelphia is making an offer that sounds too good to be true -- renting solar panels for your roof. The company says it's a way to use green energy while saving money on your electricity bills. CBS 3's Liz Keptner shows you how the company says it will work.
A rooftop solar system can cost $25,000 or more.
"A lot of otherwise middle-income and other Philadelphia residents either couldn't, or would choose not to, spend that much money on the roof," said David Blumenfeld of Urban Eco Electric.
So Blumenfeld wants to lease solar panels to homeowners. His company, Urban Eco Electric (UEE), pays for installation and all maintenance.
Andrew Kleeman of Eos Energy Solutions is one of Blumenfeld's contractors.
"He's creating a structure where, for no money down, people can take advantage of solar power," said Kleeman.
So how does it work? Homeowners have to sign a 20-year lease. You pay rent based on your current average electric bill, instead of paying PECO.
In return, as long as your electric usage stays the same, UEE locks in your rent, even if power rates go up. For the first two years, you get a 50 percent discount.
So what does PECO think? Michael Wood of PECO said, read the contract carefully.
"We wouldn't take a position with regard to whether or not the customer should pursue the contract, but [anything] that promotes alternative energy sources in our area and helps our customers save energy is worth considering," said Wood.
For its part, UEE gets to sell any excess power from the panels.
David Blumenfeld hopes stimulus money and tax incentives will make the numbers work. If it does come together, this program will only be available in Philadelphia.
Related Links:
Urban Eco Electric
http://go-uee.com
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Openly Gay Celebrities
Click to enlarge
Stumble It!
Reporting
Comments