Technical FAQs 4

Should you buy or lease a solar system?

If maximizing long-term savings matters most, buying your system outright or taking out a solar loan typically delivers better returns. "In the right situation, solar leases can be a good way to help lower your electric bill," said Spencer Fields, former Director of Insights at EnergySage.

Are solar panels a lease or a PPA?

Maintenance: If you choose a solar lease or PPA, the leasing company owns the solar panel system and typically offers a service program to cover any maintenance issues that arise during the lease term. On the other hand, if you take out a solar loan to purchase your system, you'll be responsible for its maintenance.

What is a solar lease?

You can think of a solar lease like a car lease: It's a form of third-party ownership (TPO) where you don't own the product that you're paying for. Under a solar lease, a third-party owner (typically a solar company) installs solar panels on your property and then sells you the electricity produced at a predetermined monthly rate.

Should you buy solar panels with a loan or a lease?

Owning your panels with a solar loan means that you can take advantage of any available state and local rebates and incentives upon installation. With a solar lease, the system's owner is the solar company, so they receive financial incentives instead.

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