Does Solar Panel Leasing Make Sense

We simply do not recommend it.

Does solar panel leasing make sense. A solar lease may sound great on the surface but take the time to do the math and you ll probably change your mind in a hurry. The payback period to recoup the cost of the system would simply be too lengthy. By scott gordon may 18 2015. It just wouldn t make economic sense assuming you own rather than lease the solar panels.

The main practical distinction between buying and leasing a solar pv system is in ownership. Leasing solar panels for your home is not a good idea from a financial perspective. When it comes to leasing or buying solar panels the perfect option for you and your energy needs will depend on your financial goals and preferences. Like other financing tools solar leasing has its place in the home improvement industry along with same as cash financing helocs home equity lines of credit and collateralized seconds.

If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan. Solar leasing can make sense for certain consumers. On the other hand if your main reason to install solar is to cut pollution not save money then solar would make sense. 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.