Is Solar Panel Leasing Worth It

Let s now talk about the differences between solar panel ownership leasing and purchase power agreements ppas buying solar panels.

Is solar panel leasing worth it.

Naturally solar leasing schemes wouldn t be attractive if the monthly fees for solar energy were equal to or higher than the fees for power obtained from the grid. The steep up front costs for a residential solar system can make a leasing company s sales pitch sound pretty appealing. Pay little or nothing and save hundreds of dollars per year on average. You can save between 40 percent and 70 percent on electricity costs over the lifetime of your solar panel system depending on your property and the incentives in your state.

We simply do not recommend it. You receive free electricity for the life of the solar energy system usually 25 to 30 years. Whether you decide to buy your solar panels outright or lease them you ll still get the same clean solar electricity powering your home. In most cases you ll save much more money in the long run by exploring other financing options like an fha title 1 loan or a traditional loan from your personal bank.

But the finances and ownership of your solar energy system will change depending on whether you decide to own them outright or not. Leasing solar panels for your home is not a good idea from a financial perspective. In a lease you pay to rent the solar power system typically for about 20 percent less than you were paying for electricity explained freedom forever solar.