A Solar Lease is a legal contract in which a homeowner leases solar photovoltaic panels from a provider. In this agreement the homeowner does not have to pay any upfront costs, just a flat monthly fee to lease the panels. A typical solar lease lasts anywhere between 15-25 years. Since the monthly cost of the lease does not change, the homeowner does not have to worry about inflating energy rates. At the end of the contract, homeowners may have the choice of renewing the contract, purchasing the system, or having the equipment removed.