Is Solar Panel Leasing Worth It

Naturally solar leasing schemes wouldn t be attractive if the monthly fees for solar energy were equal to or higher than the fees for power obtained from the grid.

Is solar panel leasing worth it.

In a lease you pay to rent the solar power system typically for about 20 percent less than you were paying for electricity explained freedom forever solar. Some companies also offer power purchase agreements or ppas. But leasing fees are pegged to come in below the per kilowatt hour costs of utility produced power. The steep up front costs for a residential solar system can make a leasing company s sales pitch sound pretty appealing.

Whether you decide to buy your solar panels outright or lease them you ll still get the same clean solar electricity powering your home. Leasing solar panels for your home is not a good idea from a financial perspective. A solar lease is a financing option for residential solar panels where the homeowner leases panels from a solar company. You can save between 40 percent and 70 percent on electricity costs over the lifetime of your solar panel system depending on your property and the incentives in your state.

You receive free electricity for the life of the solar energy system usually 25 to 30 years. Pay little or nothing and save hundreds of dollars per year on average. We simply do not recommend it.