Buying Versus Leasing Solar Panels

Tax credits and incentives.

Buying versus leasing solar panels. 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. We will discuss the pros and cons in this article but first we must address one fact. A lease allows you to take advantage of immediate savings with 0 upfront costs. The solar panels become the property of the purchaser after the funds are transferred.

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. Ownership is significant because you can take advantage of the federal tax credit and an increase in equity to your home. However when you buy. Major difference between leasing or buying solar panels.

The primary difference between buying or leasing a solar pv system is around ownership. If you lease the system or sign a power purchase agreement ppa a third party owns the solar panel system. Buying solar panels long term savings. If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan.

First understand the difference between buying and leasing. One of the biggest disadvantages of solar leases is that you don t get to take advantage of. The main practical distinction between buying and leasing a solar pv system is in ownership. Leasing solar panels from a solar provider merely give you benefits as a renter of the energy system.

The only way to receive a 30 federal tax credit on the cost of your solar energy system is if you buy your panels.