Did you know that an estimated 4 percent of homes in the United States of America get their power from a solar system? A big misconception when it comes to solar financing is that your only viable option is to purchase your solar energy system. It is important to know all of your options, and a great one is a solar lease agreement.
There are many solar leasing pros that you should be aware of before you choose to sign the dotted line to purchase and install solar panels and a solar energy system for your home. The good news is that you’re in the perfect place to learn more about solar leasing and why you should consider a solar lease for your energy needs.
Keep reading this article to learn more today!
What Is a Solar Lease Agreement?
A solar lease agreement is a financing option for your home’s solar system. You will get to lease the solar panels from solar energy companies like Blue Raven solar company. It is beneficial for you because you will save up to 20 percent compared to what you’d pay to the electric company if you’re on the power grid.
The solar lease tends to last between 15 and 20 years. It is a great option for those that want renewable energy for their homes but that doesn’t have the money to purchase a solar system.
Pros of a Solar Lease
The upfront costs associated with purchasing a solar energy system can get as high as $30,000. That is a lot of money to throw around, whereas a solar lease allows you to get solar energy at a fraction of the cost when you’re hooked up to the electric grid. You’ll also face zero upfront costs when you choose a solar lease agreement.
Another big perk of choosing to lease rather than to buy is that you don’t need to worry about the maintenance or upkeep. The solar energy company handles that aspect of keeping your solar system up and running.
Cons of a Solar Lease
The biggest drawback of solar leasing is that you lose out on the incentives from the government that come with purchasing a solar system. You also won’t save as much money over the next 20 to 30 years if you opt to go with a solar lease for your solar financing options.
Purchasing a solar energy system is a great way to add value to your property, but leasing solar doesn’t have that same effect. If you end up deciding to move then you could have more trouble selling your home compared to a homeowner with a purchased solar energy system.
Consider a Solar Lease Agreement for Your Home
Getting a solar lease agreement for your home is a great way to get solar energy without all of the upfront costs that come with purchasing one. It is an effective solar financing option because you can save money without spending a lot on equipment and installation. You’ll miss out on solar incentives and you won’t save as much money, but it is better than relying on the power grid.
For more helpful and informative articles like this one, make sure you check out our blog today!0