Should I Buy or Lease Solar Panels?

The decision to buy or lease solar panels all comes down to your current living situation and financial goals. At A.M. Sun Solar, we offer options for everyone’s needs and budgets. The three choices we’ll look at today are buying, leasing, and purchasing power through a Power Purchase Agreement (PPA).

There are many advantages to owning your solar energy system. First, you own the equipment and the power it produces, increasing the value of your property without increasing your property taxes. Additionally, you won’t have to pay monthly fees to your solar provider. While you’re paying more money upfront, it will cost you less overall. Also, you’ll most likely be able to claim a federal tax credit for reducing your carbon footprint, which will slash the overall price tag of your solar system.

If you want to own your system but can’t pay one large sum, A.M. Sun Solar has several financing options available. Financing your solar energy system with a loan can provide you with valuable benefits, including no prepayment penalties and a federal tax credit. Often you can secure a loan that is lower than your monthly utility expenses. We have a variety of loans from many different sources.

When you choose a PPA/lease, you will be purchasing power produced by solar equipment that is owned by a third party and has been installed on your roof or elsewhere on your property. You will still be dependent on PG&E, but you will be buying your power at a reduced rate by going solar. Since you won’t own the equipment, it will be warranted, maintained, monitored, and insured by a third party. The production of the system will be guaranteed for the term of the agreement, which is typically 20 years. This means you don’t need to worry about anything, including the ever-increasing cost of electricity!

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