How To Lease Solar Panels For Your Home

With a home solar lease your system is rented from a professional solar provider.

How to lease solar panels for your home. In a lease you pay to rent the solar power system typically for about 20 percent less than you were paying for electricity explained freedom forever solar ceo brett bouchy. Some companies also offer power purchase agreements or ppas. If you lease the system or sign a power purchase agreement ppa a third party owns the solar panel system. They worry about potential buyers being unwilling or unable to take over the lease and the potential costs that they would incur if they had to buy out their lease.

Home sales if you leased your solar energy system many homeowners considering a solar lease express concern about reductions in home value. Power purchase agreements ppas work much like solar leases but instead of renting the system you agree to pay a set price. A solar lease provider will also handle paperwork permits and installation based on your particular home and energy needs. Follow this game plan decide whether to transfer or buy out your solar lease.

Hire a top real estate agent to sell the benefits of solar. Estimates vary but experts agree that when you own your solar panel system you actually increase your home s value. The main practical distinction between buying and leasing a solar pv system is in ownership. Leasing solar panels can actually be a liability if you try to sell your home.

If you purchase your solar panel system you can add anywhere from 15 000 to 23 000 to your home s value. Whether you choose to buy out or transfer your solar panels. They have to meet onerous credit requirements and make payments on the remainder of the lease term often 10 20 years. This reduces up front costs and puts professionals on the job who understand how to maximize your solar power system.

If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan. The washington post article why leasing solar panels may not be a good idea if you re planning a home sale nov. A solar lease is a financing option for residential solar panels where the homeowner leases panels from a solar company.