Should You Buy Or Lease Your Solar System

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There are two ways to get solar. Buy it yourself or rent it from a solar company. The biggest thing to consider when deciding between buying and leasing is who gets the tax credit and the NV Energy rebate. Since they can be worth thousands of dollars, this should be something you carefully consider.

LEASING PANELS

PROS:

  • Zero out of pocket cost
  • Lower starting price per kWh than NV Energy
  • Warranty & Maintenance is usually included at zero cost because you do not own the system, they do
  • Transferable at home sale

CONS:

  • The Solar company gets the tax credit, not you!
  • No control over panel or inverter type
  • You could pay MORE for power than the power company charges in a few years if you have an annual increase (usually 1-3%) in your contract.
  • Can slow down or stop a home sale as some people do not want to assume a lease
  • The system cannot be moved out of NV Energy service territory
    You may pay a substantial early termination fee to remove panels before the term is up

BUYING PANELS

PROS:

  • You get to keep the tax credit
  • Price per kWh is set for the life of the system and can NEVER change
  • Full Warranty from the manufacturer and the installer
  • Increased resale value and no hassle transfer
  • Full control over panel and inverter type
  • The system can be moved anywhere you move
  • No early termination fees
  • Guaranteed return on investment as high as 8-10%
  • Cash price is the cheapest with many affordable zero or low money down financing options available

CONS:

  • You must pay cash or finance the purchase
  • Down payment may be required
    Unless you cannot use the tax credit because you are no longer working and do not pay federal income taxes, you should buy your system not lease it. We offer low rate financing options for customers with good credit.