Should you lease or buy solar panels?

Homeowners do get to take advantage of net metering, so the solar panels still lower or eliminate their electric bill. Solar leases provide predictable monthly payments, increase access to solar, and have no maintenance costs for the homeowner.

How do I lease or rent solar panels?

Here’s a step-by-step guide on how to lease or rent solar panels: Start by researching solar leasing companies in your area. Look for reputable companies with strong customer reviews and a proven track record. Consider their financing options, contract terms and maintenance policies. Contact multiple solar leasing companies to request quotes.

Does a solar lease fit a home?

From a financial standpoint, a solar lease may fit homeowners who meet the following conditions: A solar lease also delegates system maintenance to the provider, although solar panels typically do not require much maintenance beyond regular cleaning.

Does a solar lease increase property value?

These contracted annual increases (usually between 1% to 5%) are common in solar leases, so it’s likely your costs will continue to rise over the life of the lease. No increase to property value. Although purchasing solar panels may increase the value of your home, solar leases usually don’t improve property value.

What is the difference between a solar lease and a PPA?

These two financing options are very similar. The critical difference is that with a solar lease, you'll have a fixed monthly payment, whereas with a solar PPA, you'll purchase the power generated by your system at a fixed price per kilowatt-hour (kWh). What does that mean for you?

What happens if a solar lease payment is less than electricity?

So if your lease payment is less than what you were paying for electricity from the grid, you could save money every month. No worries about repairs or maintenance: The solar lease company is responsible for repairing the panels and performing solar maintenance on the panels.