One of the hurdles any homeowner considering solar generated power has always faced is the high upfront cost. Powering the average home using the sun’s energy requires fairly large solar panels. Most panel systems cover most of the south facing roof of the house. But the cost of the panels alone can easily be around $10,000-$16,000. Add batteries, installation and related costs and you are looking at an initial investment of anywhere from $32,000 to about $50,000.

Many find the cost worth it in order to be independent of the local utility company. In rural areas, power outages are common. Wind storms knock trees onto the lines. Transformer blow outs are common. Many components of such systems are decades old and there’s too little income or other incentives for the power company to upgrade. Having an ‘off-grid’ system provides at minimum a backup during times when the power is out.

Given that the pay back on home solar panel systems can be 20 years or more, some may still see the initial cost as too high. They feel compelled to endure the occasional blackout.

But upfront purchase of the total system isn’t the only option today. There are various loan, lease, rebate or grant systems that can offset part or all of the cost.

Federal tax rebates or outright payments help somewhat. Special legislation in most states allows utility companies to enter arrangements that can reduce the cost of solar power. Some contracts and systems allow for purchasing back any excess solar power. If your system generates more than your home needs, the difference goes into the utility grid. You receive a rebate on your bill.

Many companies will subsidize part of the cost by offering a discount for homeowners who install a solar power system. Not many companies will pay you to purchase less of their product or service. But the crazy quilt of regulations in electricity generation gives the utility company a financial incentive to do just that.

There are a few companies just now starting up that promise to lease equipment. That opens the option of lowering the major share of the upfront cost of solar systems. Just as when leasing a car, the total cost over time may be slightly higher. But lowering the initial investment from $50,000 to $1,000 puts a solar power system within reach of many more people.

Most people today own their home for less than seven years. That’s one of the major reasons mortgage companies can offer the flexible rates and terms that have become common in the past 15 years. That fact affects the feasibility of installing a solar system as well.

Most people who only expect to own their home for, say, five years are going to be reluctant to sink $50,000 more into it. Installing a solar system raises the value of a home, certainly. But it rarely raises it enough to get a new buyer to cover the total cost. But leasing means the equipment can be returned after a set period of time. That opens up new options.

With changes in technology and financial arrangements, solar power systems are becoming more attractive. Investigating all the options may well put one within reach for you.

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