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Should I own or lease the solar panels?

Updated: Jul 21, 2023

There are two main ways to finance solar panels: owning them or leasing them. Both options have their own benefits and drawbacks, and the best option for you will depend on your individual circumstances.


Owning solar panels


When you own your solar panels, you are responsible for the initial upfront cost of the system. However, you also reap the benefits of owning them, including:

  • Long-term savings: Solar panels can save you money on your energy bills for decades. In fact, the average homeowner saves about $20,000 over the lifetime of their solar system.

  • Equity: As your solar system generates electricity, it adds value to your home. This means that you can build equity in your home even if you don't own the panels outright.

  • Warranty: Most solar panel manufacturers offer a 25-year warranty on their products. This means that you can be confident that your solar panels will last for many years to come.

Leasing solar panels


If you don't have the money to invest in solar panels upfront, leasing may be a more affordable option. With a solar lease, you don't own the panels, but you pay a monthly fee to use them. The monthly fee is typically lower than your current energy bill, so you can start saving money on your energy costs right away.


However, there are some drawbacks to leasing solar panels:

  • You don't own the panels: This means that you don't have any equity in the system, and you won't be able to sell the panels if you move.

  • Limited warranty: Most solar leasing companies only offer a 10-year warranty on their systems. This means that you may be responsible for the cost of repairs or replacements after the warranty expires.

  • Increased monthly payments: Over time, your monthly lease payments may increase as the cost of electricity goes up.

Which option is right for you?


The best option for you will depend on your individual circumstances and financial situation. If you have the money to invest in solar panels upfront, owning them is the best option for long-term savings. However, if you don't have the money upfront, leasing may be a more affordable option.


We recommend that you talk to a solar installer to discuss your options and get a quote for both owning and leasing solar panels. They can help you understand the benefits and drawbacks of each option and make the best decision for you.


We offer a 25-year warranty on our solar panels...


We understand that the warranty is an important factor for many people when choosing a solar installer. That's why we offer a 25-year warranty on our solar panels. This means that you can be confident that your solar panels will last for many years to come.


Our warranty covers the performance of your solar panels, as well as the workmanship of the installation. If your solar panels don't meet our performance standards, or if there are any problems with the installation, we will repair or replace them at no cost to you.


We are committed to providing our customers with the best possible solar experience. That's why we offer a 25-year warranty on our solar panels. We want you to be confident that your solar investment is protected for many years to come.


We will go over all your options during your consultation...


During your consultation, we will go over all of your solar financing options, including owning and leasing. We will discuss the benefits and drawbacks of each option and help you make the best decision for you.


We will also answer any questions you have about solar panels and solar financing. We want you to be fully informed before making a decision.


We are here to help you make the switch to solar energy. Contact us today to schedule a consultation and learn more about our solar financing options.





House with solar panels

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