For some property owners who decide they want to go solar, the next question is: buy or lease? If you buy a solar panel system, you own the system. If you lease a system or sign a power purchase agreement, then a third party owns the system and you simply pay to use it.
The cost, maintenance, terms and savings for a solar power system differ greatly depending on whether you own or lease. There are both advantages and disadvantages to buying and leasing a solar power system.
Buying a solar power system may be the best option if you:
Leasing a solar power system may be the best option if you:
Whether to own or lease a solar power system is an individual decision that should be made in consultation with a tax and/or investment professional. Going solar can have longterm benefits, both financially and environmentally as you help conserve our natural resources by relying on clean, renewable sunlight to generate electricity instead of dirty fossil fuels.
Before you buy or lease a solar panel system, be sure to explore all your options that are available to you and realize that every situation is different.