Buying Vs. Leasing Solar Panels
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Published 2023-02-14
Solar Surge will teach you all about being energy independent and how to set up your home to run off-the-grid during an emergency. We empower families to take control of their energy generation and storage so that they will never be left in the dark without electricity.
In this video, Joe discusses the best route to go when purchasing your solar panels. Should you buy or lease?
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All Comments (21)
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It should be made clear that Leasing companies hyper-inflate the valuation of their solar systems so they can make the tax credit bigger for themselves. The problem with this is that when someone goes to sell their home, the buyer usually demands the system be paid off because of how expensive the lease payments are. When the seller has to buy out the system, it can be as much as twice the net cost of the system had they paid cash for it, and they had paying on it for years…
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I learned something new about the least vs cash debate. Thank you. I’m very happy with my 10kw REC Alpha+Enphase rooftop system.
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Thank You for All that you are doing for our Planet Earth.... Peace.. Shalom.. Salam.. Namaste 🙏🏻 😊 🌈 ✌ ☮ ❤
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Good information for people. The company I work for does in house financing so we offer a low apr of 2.99% right now. I don’t do ppas at all they are garbage for customers. When I have to do a lease I set the escalator to 0 so the customer have the same payment over 25 years. We also do battery retrofits to existing systems. Only Tesla Powerwalls though.
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Great information!
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Great information, I leased and there is an option to ‘cash it’ out. I also have Enphase batteries, however with the SGIP program here in California I got a rebate of about 90% on the cost of the battery install so it is all worth it overall. Side note, I was surprised to learn recently that solar panels don’t work during an outage if you don’t have batteries! Thanks for your videos, all very informative.
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Being a Veteran with a VA Guaranteed Loan on your home makes the solar system lease much more practical. At least the bank will not see a lien on the property from a solar system loan and foreclose on your house. Also if you income happens to be VA disability, that tax write off buying a system would give you won't be useful to you as you income is tax free. So leasing a solar system with no money in and the company maintaining the system works for me.
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Leases have their place typically with clients on fixed income/low income, in their forever home, want savings, no tax liability, and then only if I can offset 80-100% offset and if they move and new homeowner does not want to assume the lease then a prepaid makes sense and add it to the resale of the home. The new homeowner now has no lease payments or electric bill and still has all warranties from the leasing company.
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great content
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In New York we can’t have battery back up
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I really enjoy your content. You're info reminds me of my mentor in solar, Matt Stoutenburg in Tustin with Peak Power Solutions. You have the same mindset. Is your background as a tradesman as well?
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How much do you get for renting the space to the solar system owner?
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I have a leased system 6 years into it. I purchased the home with the system in california. We are debating to outright purchase it we have that option in the contract. Does it make sense to do that? I know we will be completely responsible for any repairs or maintenance. Just wanted to get your thoughts. Thanks
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A few months ago, I had heard that the federal government was working on a program for those of us who are handicapped or retired to be able to save money going solar. Something equal to the tax incentive given to those still able to work. Do you know if this has happened or if it is in the works??
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I leased my solar system from momentum 4 years ago, now my roof is leaking and I need to have to panels removed and reinstalled, do you think momentum solar will remove and reinstall free of charge or I would have to pay for it?
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Which type of system is the most profitable for the sales organization?
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4.78 kw system with 12 panels, inverter and 1 Tesla power will with 50k loan is high?
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DO NOT LEASE!! It is a rip off. If you cannot buy them ought right forget about it. 6.5 to 8 years for pay off, that is good deal. Lease you wind up with nothing. Not to mention if you go to sell you are stuck with the lease. And watch out for door to door hucksters, they are only there for commission. Not your buddies, just salesmen, who will sell you what ever they have in stock.
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😁 👌 👍
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There is a provision in the new IRA law that allows customers with no tax liability to sell the Investment Tax Credit
