If you’re in the market for your first solar system, you’ve probably come across your two options of obtaining this system: leasing or buying. And just like any smart shopper, you’re going to do your fair share of research before diving right in to anything. Here are some things to take note of while choosing between leasing and actually owning your solar system.
The two main benefits of solar panels are economic and environmental. So in order to make your decision you’ll have to determine your financial goals and sustainability goals. Since the environmental impact will be the same whether you lease or buy, the main focus should be on your finances.
Here are some key points to keep in mind when making your decision:
- Many different leasing options actually provide solar panels that are subpar. Be sure you don’t settle for generic branding which could rob you of energy efficiency, thereby negatively impacting both benefits of your solar system; economic and environmental.
- One benefit of leasing is that all damages and repairs are usually covered through the lease agreement. This definitely sounds like a phenomenal benefit, but keep in mind that solar panels usually require little to absolutely no maintenance, and when you purchase with Aztec, you receive a twenty year warranty that covers your system “bumper-to-bumper”.
- Equipping your home with solar panels can be a great investment and increase the value and selling power of your home; unless If those panels are tied to a lease agreement, If you decide to sale your home in the future, transferring a leasing agreement can be very difficult and has caused many home sellers to lose buyers who either don’t want to assume the lease agreement, or who don’t qualify to assume the agreement based on their credit score. Other home sellers were forced to “pre-pay the agreement” or purchase the equipment outright.
- Purchasing your solar panels outright (through your own finances, solar loans, tax credits, incentives and rebates) will increase the value of your home. The value of the solar panels can appreciate by 10%-20% annually, making purchasing a wise investment.
Here at Aztec Solar we want you to enjoy all the benefits of owning your own solar system. Contact us today to see how much you’ll save with a new solar electric system! (916) 853-2700