Before deciding whether purchasing or leasing would better align with your long-term energy goals, consider these crucial factors:
With a solar loan or cash purchase of your system, expect to pay anywhere from tens of thousands to hundreds of thousands of dollars on your solar energy installation. However, you may be able to reduce that cost by up to 50 percent, depending on the rebates and incentives available in your area.
With a solar lease, you can frequently get access to a solar energy system at little to no money down. At the same time, however, you won’t qualify for any rebates or incentives because you don’t own the system.
With an outright purchase, your organization is solely responsible for any repairs, maintenance, and upgrades that aren’t covered under warranty. Fortunately, reputable solar manufacturers build equipment that’s designed to last for decades and back their products with equitable warranties.
When you lease, your solar partner is responsible for maintaining and repairing your solar infrastructure. They also frequently offer applications that track system performance and cost savings.
Return on Investment
When you purchase your solar infrastructure, you can expect to save anywhere from 40% to 70% on electricity costs over the lifetime of your system. You’ll receive free electricity for the life of the system (generally 25 to 30 years).
When you lease a solar energy system, you can save 10% to 30% on electricity bills.