Buying Versus Leasing Solar Panels

The solar panels become the property of the purchaser after the funds are transferred.

Buying versus leasing solar panels.

First understand the difference between buying and leasing. Buying solar panels long term savings. One of the biggest disadvantages of solar leases is that you don t get to take advantage of. 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.

Difference between leasing vs buying solar panels. A lease allows you to take advantage of immediate savings with 0 upfront costs. The only way to receive a 30 federal tax credit on the cost of your solar energy system is if you buy your panels. We will discuss the pros and cons in this article but first we must address one fact.

The primary difference between buying or leasing a solar pv system is around ownership. Ownership is significant because you can take advantage of the federal tax credit and an increase in equity to your home. If you lease the system or sign a power purchase agreement ppa a third party owns the solar panel system. If you don t buy the company you lease from remains the owner of the solar panel system and therefore receives the long term financial benefits.

Tax credits and incentives. Major difference between leasing or buying solar panels. Whether you lease or buy solar panels you will save money on your energy bill. If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan.

Buying involves purchasing the solar panels for domestic or commercial use using the buyers own or borrowed funds.