Buying Versus Leasing Solar Panels

One of the biggest disadvantages of solar leases is that you don t get to take advantage of.

Buying versus leasing solar panels.

Buying involves purchasing the solar panels for domestic or commercial use using the buyers own or borrowed funds. Major difference between leasing or buying solar panels. The only way to receive a 30 federal tax credit on the cost of your solar energy system is if you buy your panels. A lease allows you to take advantage of immediate savings with 0 upfront costs.

The main practical distinction between buying and leasing a solar pv system is in ownership. The primary difference between buying or leasing a solar pv system is around ownership. Tax credits and incentives. 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.

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. First understand the difference between buying and leasing. If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan.

We will discuss the pros and cons in this article but first we must address one fact. Difference between leasing vs buying solar panels. Buying solar panels long term savings. Leasing solar panels from a solar provider merely give you benefits as a renter of the energy system.

Whether you lease or buy solar panels you will save money on your energy bill.