Buy or Lease Solar

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  • Buy or Lease Solar
    Posted by Ben Millar | 3 replies |  Last reply about 4 years and 11 months ago by Pierre Moses

    Should I buy or lease Solar Panels?   Which is the most economical?

     

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  • When deciding whether to lease or purchase a solar system, you have to consider your budget and your federal tax liability. A cash purchase is a good decision if you are certain that you’ll be living in the same home for the foreseeable future, and you have enough federal tax liability to make use of the 30% federal tax credit. A purchased system will typically pay for itself in 5 – 7 years. With a leased system, you have the option to get solar on your roof for no money down, meaning you start saving money the moment the system is placed in service. The combination of your monthly solar lease and your new, low electricity bill will be less than your current utility bill. Also, a leased system is conveniently insured, maintained, and monitored by a leasing company who will own your system for 15-20 years after its installed.

    Pierre Moses posted on October 12, 2012
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  • What are the liabilities with regard to damage on leased solar?

    Katherine O'Byron posted on October 12, 2012
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  • The leasing company is solely responsible for any damage to the system during the term of the lease agreement. This is one of the advantages to leasing a system rather than own the system outright.

    Pierre Moses posted on October 12, 2012
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