For many homeowners, leasing solar panels may seem like an appealing solution. Upfront, you usually get promised plenty of savings. These days, people are choosing to lease their panels far more often than they are opting to outright purchase them, sometimes because they fear they couldn’t afford the upfront costs of buying them. Solar Home & Roof USA doesn’t lease our panels because we are committed to giving our customers the best experience. Purchasing solar panels, rather than leasing them, has a number of benefits worth considering.
Maintain Control of Your Roof
Leasing companies are out there to maximize their profits. This means they want to make solar panels as visible as possible, even at the cost of efficiency, to use your roof as a means of advertising. This also means that leasing companies aren’t concerned with attractiveness and really just want to take advantage of your roof. Working with an installer who you’ve bought your panels from means much more control of your own roof and getting input into making sure your panels are as efficient as possible.
Averaged out, anyone who leases ends up saving less than people who buy their panels outright or take advantages of loans to purchase their solar panels. Additionally, if you do lease, you can miss out on federal tax benefits or local tax incentives that are often a reason people look into solar in the first place. Lastly, many solar panel leases include an “escalator clause,” which can make your payments increase drastically over the years.
Added Difficulties in Selling Your Home
Purchasing solar panels outright can increase your home’s value but working with leases makes things much more tricky. Typical leases last up to 20 years, which is a long time commitment to make if you’re uncertain of whether or not you will move. If you wanted to sell your home with leased solar panels, you need to either buy the lease out entirely or transfer the lease to whoever purchases your home, which is intimidating for many homebuyers. Be sure you’re choosing the best option for you and make sure to ask the right questions, whether purchasing your panels or leasing them.
Contact Solar Home & Roof USA Today!
If you have any solar needs in Maryland, contact Solar Home & Roof USA, LLC. at 410-266-7891 or by email at firstname.lastname@example.org. Our solar powered products will help make your life easy, environmentally safe, and cost efficient! We’re located at 3200 Escapade Circle, Riva, Maryland 21140. Contact us today!