What is the downside of leasing solar panels? A big disadvantage of leasing solar panels is the long-term savings opportunity. Since you pay the solar company every month for the length of your lease, you will save money on your energy bills, but it’s typically not as much in the long-term compared to owning the panels yourself.
Is leasing solar panels worth it? Owning or leasing solar panels both allow homeowners to enjoy utility bill savings while helping the environment. Leasing is better if you want to get started with solar without a large initial investment while owning is the best way to save money long-term.
What are the benefits of a solar lease?
- Save Money right away.
- No Upfront Cost.
- Free Maintenance.
- The system is guaranteed to produce a minimum level of power each year.
- Cash is always king.
- Federal Tax Credits.
- Increase Home Value.
How does leasing a solar panel work? Leasing solar equipment allows you to receive the financial benefits of solar energy without having to buy a home solar system. A solar provider handles the installation, and then leases the equipment to you at a fixed monthly amount or sells you the electricity the panels generate at a set price per kilowatt-hour.