If you’re considering solar for your home, you may wonder whether to lease or finance your system. Both options have pros and cons, so deciding which is right for you can be tough. In this blog post, we will break down the differences between solar leasing and solar financing so that you can make an informed decision about which option is best for you!
Leasing a solar system means you do not own the panels but instead pay a monthly fee to the leasing company. The advantage of this is that it requires little upfront investment, and you may be eligible for some tax incentives. However, the downside is that you will not receive the full financial benefits of owning your system, as the leasing company will still reap some of the rewards.
Solar financing allows you to take out a loan to purchase your system outright. This option typically has lower monthly payments than leasing, and you’ll get all the financial benefits of owning your system. The downside is that it requires more upfront investment, and you may not be eligible for as many tax incentives.
So which option is right for you? It depends on your circumstances. Solar financing may be the better option for you if you have the cash to front the upfront investment. However, leasing may be the way to go if you’re looking for a low-cost way to go solar with little upfront investment.
Do your research and speak with a solar professional at Quest Greens to determine which option is best for you and your home!