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Leasing or Buying A Solar Panel System?

Which One Should You Choose?

Purchasing a solar system.

Leasing a solar system.

Deciding whether to lease or buy a solar panel system is an important decision. There are many factors you should take into consideration when making your decision. Customers who decide to buy a solar panel system are usually focused on the financial benefits. These customers tend to be in a position to benefit from the tax credits associated with solar power systems. In conclusion, customers who choose to buy a solar system do so since it will increase the value of their home as well as give them an average return of 7 to 8 years on their investment.

Customers that decide to lease a solar panel system are focused on getting their electricity from a clean, renewable source and they want to start enjoying cost-saving benefits immediately. These customers are looking for a hassle-free way to have solar power without taking out a loan, dealing with maintenance, or paying a huge amount of up front costs and fees.

There are pros and cons to purchasing or leasing a solar panel system. Look at the differences below.