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Are solar leases a better option since solar panels are becoming more efficient and cheaper. That way I am not buying solar panels that may be outdated in 10 or 15 years?

asked 2016-04-26 12:41:02 -0500

energysage-1 gravatar image

Is it better to lease my system rather than buying it outright?

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answered 2016-10-11 16:43:22 -0500

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updated 2016-10-11 16:43:22 -0500

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Solar panels have a lifespan of over 25 years, and because there is not an efficient resale market for used solar systems, you will find that most lease come with a term of 20 years. Therefore, whether purchasing or leasing solar, you should be choosing equipment that you will be comfortable with for the next 20+ years.

Instead, the decision to lease or purchase should be primarily based on whether you are able to monetize the investment tax credit yourself. If, yes, purchasing the system would provide more savings since you are not paying a leasing company to monetize the credit for you. Another factor would be whether you want the leasing company to provide maintenance over the term of the lease or whether you are comfortable doing the relatively minimal amount of maintenance yourself which can be required if you purchased the system.

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Asked: 2016-04-26 12:41:02 -0500

Seen: 6,184 times

Last updated: Oct 11 '16