The cost of solar continues to go down, down, down, and so the question is not whether or not to go solar. To lease or not to lease your solar panels, that is the question.
If you’re in the market for a home solar system and have the cash or access to a low-cost financing option, then buying a system outright is one great option. The owner is entitled to all of the solar incentives and tax credits, as well as credit from the utility company for the excess energy generated by the system (under a net metering system), and the entire solar electricity system is owned clean and clear by the homeowner.
For those who might not be good candidates for solar ownership, solar leasing also offers benefits, including $0 solar installation and maintenance, and reduced electricity bills, without any of the downsides (such as the debt for financing the solar purchase).
To help shed some light on the question of solar leasing vs. solar ownership, the Institute for Local Self Reliance (ILSR) has built a handy little solar calculator, which uses your data to help you make the most informed choice when going solar. Input your information to see how the value of a solar investment varies over the course of 15, 25, and 30 years, depending on whether you take out a loan, pay cash, or lease the solar panels.
For a full explanation of the inputs and a glossary of terms, see the Ultimate Solar Calculator page at ILSR.
To request your free solar quote today, click here.
September 22, 2014
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