TXU to lease solar panels in Texas

DALLAS, Feb. 24 (UPI) -- Texas power provider TXU Energy said it will begin leasing solar panels that could put an immediate dent in homeowners' electric bills.

Installing a solar system in a home means long waits before the system pays for itself and begins turn a net economic benefit for private owners, The Dallas Morning News reported Wednesday.

The leasing plan, however, would provide homeowners with an immediate average savings of $19 per month, TXU said.

The savings would vary depending on how much and when a homeowner uses power. Those who are home during the day would save more than others, the News said.

Others could opt to sell the power generated back to TXU, although the pricing is set to make that a break-even proposition, the company said.

The primary benefit is a jump start on the savings that usually take years to put the expense of a solar power system into the black. The system, which can be leased for $35 a month, can also be purchased for $26,000, excluding government subsidies.

"We're trying to make solar accessible to customers, but primarily we're trying to make it affordable," said John Geary, vice president of innovation for TXU.