Solar Panel Leases Are Not Good Choice

Your lease payments are 100.

Solar panel leases are not good choice.

Your solar lease payment will remain the same regardless of how much electricity your solar energy system produces. While solar lease options typically have less financial benefit to homeowners than owning a system a good solar lease can still save you anywhere from 10 to 30 percent compared to what you re paying your utility company for. Many leases contain an. The bottom line on solar leasing.

However if the solar panels do not produce enough energy to cover all of your electricity usage you will have both a solar lease payment and an electric bill. Overall solar leases present an enticing front with a lot of potential complications lurking in the background. In july your solar panels eliminate your entire electric bill because of net metering. Note that ppas are not legally permitted in some areas.

If you find the right financing option installer and equipment your solar panel system should save you money. This distinction impacts the cost maintenance terms financial offsets and savings returns on investment of your solar panel system. The only time where it could make sense to go with a solar lease or ppa is if your credit isn t great and you are unable to obtain favorable financing from your bank. In this situation third party ownership might be your best choice if you want to get solar panels on your home.

For example let s say your original utility bill before leasing solar panels was 150.