Leasing Or Financing Solar?

In many economic realms of our life, we may be stuck with the question, to buy or to finance?  Sometimes financing can be the only option for us.  Items with high-priced dollar tags attached may be too much for the average American to undertake.  The lending system developed throughout the United States in the preceding century has to give our countries economic system a boost of super strength.  The solar panel market is ready to be boosted as well, and if you can't afford a cash purchase, then finding a financing program that helps you to go solar might be the way.  Let's seek the methods available to you, that you can use today to find your best low-cost, energy bill saving, solar panel system. Leasing might become an option for many people who cannot afford to buy their solar system outright.  However, leasing solar panels vs. buying can expose some short-falls when trying to make a move to solar.  Let's keep your low-cost solar purchases as buoyant as possible, here's some information to help.      

Leasing Solar Panels?

Often the solar energy company's salesperson will encourage a system that demonstrates a no-cost or low-cost payment to save hundreds of dollars per year on average. They often base this premise of savings around the concept that one saves due to the union of your lease payment and one's electric bill is less than what you currently pay for your energy consumption costs.  Try to avoid the impassioned leaning as you imagine your immediate financial burdens. Leasing can also seem enticingly simple contrasted with buying.  The single shop approach can push things along at a rate that can be confusing. There’s no obligation to shop independently for an installer and a separate financing house. Just sign on the dotted line. This process is so easy, and it's no surprise that 72 percent of the people who installed residential solar systems in past years did so through leasing or another type of third-party arrangement.  However, simple doesn't mean you will get the best deal on a solar panel system

Solar Leasing = Not Much For Savings

Leasing is an excellent option for people without cash to put outright purchase a solar panel system. Just be careful as some leases come with some hurdles.  Some contracts include increasing rate increases, sometimes as 3 percent annually. These often start 12 cents per kilowatt-hour in year one, with a 3 percent increase, they end up paying 18.2 cents in the 15th year. So, if the cost of energy doesn’t rise as quickly as the contracted lease payments increase, you can watch your energy savings disappear.  Get informed and save yourself money when working on a leasing deal for you next solar panel system. 

Solar Panel Roof Stacking

Leasing companies make money in proportion to the number of solar panels you have on your property.  More roof space means more money for the solar company.  In the case of roof installation, the leasing company may put more panels than you had assumed to raise their profit line.  They also might turn your roof into a community horror.  Since panel maximization is essential, they may utilize roof space that doesn't add to the beauty of your home but aligns with their capacity to lay the most amount of solar panels on your roof as possible.  

There are indeed some pitfalls to look for when deciding to finance or lease a solar panel system.  There are many other indicators you might want to investigate as well so that you can find the best price for solar possible.  

If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years. 

For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.