Why Most People Lease A Solar Panel

Here s why you might want to lease solar panels instead of buying or financing them.

Why most people lease a solar panel. The leasing company gets the rebates incentives and federal tax credit for the purchase of solar panels. A solar lease is the better choice when you are being eco friendly. A solar lease ppa is your best option when you are primarily interested in using electricity generated from renewable resources rather than maximizing the financial benefits of installing a solar panel system. If you lease instead of buy you are adding layers of expense and giving away the federal tax credit state incentives and utility company rebates that you might otherwise benefit from.

Fully owned solar panels in most cases where solar panels were installed the panels were fitted free of charge by a solar power company. Our realtor just informed us that we have a problem. People who lease their solar systems save far less than those who buy them outright or with a loan they also miss out on federal tax benefits and any local incentives. The homeowner then leased the panels to the power company usually for a 25 year term.

The power company then took the benefit of the feed in tariff. A solar lease gave you the opportunity to run on sun without having to pay the 11 000 14 000 that it costs to install panels in one fell swoop. Some companies also offer power purchase agreements or ppas. 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 ceo brett bouchy.

My wife and i listed our house for sale a few weeks ago. Both a solar lease and ppa are affordable easy ways to enjoy solar power without a large upfront investment. You ve saved energy lowered your low utility bills and felt the undeniable pleasure of sharing these perks when the topic of solar came up with anyone who would listen. We have a great realtor and accepted a good offer last week.

Many leases contain an. With both leasing and ppas you don t pay any upfront costs for your panels and you can typically save on your utility rate. Want to avoid the responsibility of maintenance or repairs for a solar panel system. While solar lease options typically have less financial benefit to homeowners than owning a system a good solar lease can still save you anywhere from 10 to 30 percent compared to what you re paying your utility company for electricity.

The deal was that there s no mo.