Solar Panels — Lease or Buy?

Residential solar house icon on green leaf - Alternative energySolar Panels — Lease or Buy?
If you’ve been considering installing solar panels in your home to save on energy costs, you might be wondering if you should lease the panels or buy them. Here are some pros and cons of each to help you decide.

Leasing
No upfront costs, making it an affordable option for those who can’t get financing.
You don’t have to worry about maintenance.
Leases usually run 20 years, which could cause complications if you want to move before the lease is up.

Buying
May qualify for financial incentives of up to 30 percent, including a federal tax credit, plus state or utility incentives such as rebates.
Requires financing or upfront cash, often $30,000 or more.
System pays for itself in 5-7 years.
Banks are still intimidated by new technology and could be reluctant to lend.
Financing can be complicated by figuring out who receives the incentives.

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