Lease vs Own?

Should you lease solar panels or buy them? Leasing solar panels can be less time consuming, but actually buying can have it’s own benefits. Buying solar panels can lead to saving on power later since you make an up front payment and don’t have to continually pay per month , whereas if you are leasing […]

Should you lease solar panels or buy them? Leasing solar panels can be less time consuming, but actually buying can have it’s own benefits. Buying solar panels can lead to saving on power later since you make an up front payment and don’t have to continually pay per month , whereas if you are leasing your solar panels, you will have to make continuous payments to the third party owner of the panels. Also, if you want to sell your home later, the value of your home will increase if you bought solar panels. If you buy solar panels, you are responsible for the maintenance of them, whereas if you rent them, the third party company will clean them. If you buy your solar panels, lastly, you may be paid back, in a way by the government, which you may know your way around better than me.

If you rent solar panels, you can have them cleaned, their productivity tracked by an app, and all of the nitty gritty stuff is taken care of. This can be a huge advantage if you live a busy life and want solar panels but don’t have the time or the will to clean them and track your finances. Or, if you simply don’t want to clean the. However, leasing solar panels can lead to paying more for them, since it is not an up front payment.  But if you think the other benefits of leasing outweigh the cost, leasing could be a good option for you. Also, you’ll still save on energy overall, just not as much as someone who bought them. No matter what option you choose, it’s all about you and your personal preferances.