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Leasing vs Buying a Solar Energy System

Leasing vs Buying a Solar Energy System

If you are looking for ways to reduce your energy bill or to become less dependent upon the grid, you are probably researching solar energy systems and the costs associated. There are several different payment options for you to choose between:

Lease: Renting a solar system from a third party.

Solar leasing is when a leasing company installs a solar system with no upfront cost for the property owner, and then the customer pays a monthly payment on the equipment. The leasing company is typically responsible for any maintenance and upkeep for the solar system. When you agree to a leasing contract, you essentially give them free access to your roof for the duration of the lease.

PPA (Power Purchasing Agreement): Buying the power from a third party.

A Power Purchasing Agreement is very similar to leasing a solar system. The biggest difference between the two is that you pay a fixed monthly payment with a solar lease, whereas with a PPA, you pay a fixed amount per kilowatt-hour (kWh) of power generated.

Purchase: Own the system by buying outright or financing.

When purchasing a solar energy system, a customer pays out-of-pocket or acquires financing for the outright purchase and installation of solar equipment which they operate from that day forward.

While there is a cost associated upfront, there are also many financing options available to help offset the costs, as well as rebates and incentives for going solar. Maintenance is not an issue because panels are generally warranted for 25 years and inverters between 20 – 25 years.

Valley Solar Pros and Cons of Leasing vs Ownership

Whatever your plans or aspirations are, the best move is to not go at it alone. Find a contractor you trust and with whom you feel you can confide. The more upfront you are about what you want to do and your financial limits, the better a contractor will be able to advise you on the best solar energy system that will fit your needs. Our team of local solar consultants are trained to help guide you along your path to energy independence.

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