After deciding to go solar for your energy needs, it’s time to think about finances. It’s time to weigh the options of of either buying solar panels or leasing them from a third-party.
The difference between buying or leasing solar panels comes down to ownership and costs. Depending on your needs and your budget, the details below will help you choose the best option. But first, let’s discuss the differences:
The decision of buying your solar panels is logical when you:
- Want to invest long-term while also going green
- Have an average sized home
- Want to increase the market value of your house
- Have long-term plans of staying in your neighborhood
Leasing solar panels means that a third-party owns the equipment and you reap the rewards of green energy while also cutting-down on your energy costs. Whether you own or rent a house, here are a few reasons why leasing solar panels might be better than buying solar panels:
- You’re interested in energy saving rather than cutting down costs of energy
- You want to avoid payments of repairs and maintenance of solar panels
- Have a small or large house
- Plan on moving houses in the near future
- Want to go green immediately without having to wait for permits (the third-party deals with all legal regulations)
- You’re not sure about going fully-in at the moment and want to test out energy saving
To sum up, talk with your solar panel installer before settling on buying or leasing solar panels. Sometimes buying is better suited to your needs as a user and sometimes leasing works well. After you’re done with your research, the next step is installation, which is quite easy. All that’s left is to kick back and let your installer do the rest.
Happy going green, folks.