Is Solar Panel Leasing Worth It

We simply do not recommend it.

Is solar panel leasing worth it.

You can save between 40 percent and 70 percent on electricity costs over the lifetime of your solar panel system depending on your property and the incentives in your state. Some companies also offer power purchase agreements or ppas. But the finances and ownership of your solar energy system will change depending on whether you decide to own them outright or not. A solar lease is a financing option for residential solar panels where the homeowner leases panels from a solar company.

Leasing solar panels for your home is not a good idea from a financial perspective. But leasing fees are pegged to come in below the per kilowatt hour costs of utility produced power. The steep up front costs for a residential solar system can make a leasing company s sales pitch sound pretty appealing. 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.

Naturally solar leasing schemes wouldn t be attractive if the monthly fees for solar energy were equal to or higher than the fees for power obtained from the grid. Pay little or nothing and save hundreds of dollars per year on average. In most cases you ll save much more money in the long run by exploring other financing options like an fha title 1 loan or a traditional loan from your personal bank.