Why Leasing Solar Panels Is A Bad Idea

The sales presentations however purportedly inflate grid power rates. The washington post article why leasing solar panels may not be a good idea if you re planning a home sale nov. While leasing a solar panel system may seem like a great idea it can create an awkward situation when you decide to sell your home.

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Overall solar leases present an enticing front with a lot of potential complications lurking in the background.

Why leasing solar panels is a bad idea. Another benefit of owning versus leasing solar panels is the premium it offers on the value of your home. You could end up paying more for electricity than if you didn t go solar at all. Solar energy can at times be intermittent depending on the weather conditions and that can create supply problems. Buying solar panels requires an investment and more decision making than leasing but over the long term the benefits of owning your system are hard to beat.

For homeowners who can t manage the upfront costs of a cash payment don t qualify for a loan or can t use the tax credits it makes solar possible. Solar leases and ppas usually have an escalator clause that raises the cost of your electricity by a fixed amount every year. Breaking your lease with a solar panel company will usually result in you being charged the full bill for the 15 years of usage the homeowner agreed to. A landowner who enters into a solar lease should expect to have solar panels on his or her farm for 40 to 50 years.

Why leasing isn t a bright idea. Why leasing solar panels may not be a good idea if you re planning a home sale. But solar panels that are leased will be tied into the grid which means you can still receive electricity from your utility company if and when you need it 6. Installing a solar farm on farmland could cause the land to lose its current agricultural use value status since the land is no longer used exclusively for agriculture.

You might end up with a solar system that isn t right for you. The bottom line on solar leasing. Solar companies that emphasize leases ppas often use pushy sales tactics. If these allegations are true these possibly misleading leases could be a serious threat to consumers as they are tied to our citizens homes and have the potential to cause significant harm to the solar industry.

Problems with leasing solar panels. They have to meet onerous credit requirements and make payments on the remainder of the lease term often 10 20 years. 17 2015 says that potential buyers may be frightened by an existing solar lease on a home.