Jan 24 2012
What Are The Advantages And Disadvantages Of Leasing Solar Panels?
There are advantages and disadvantages of leasing solar panels; however, one should realize that the disadvantages far outweigh the advantages. Solar energy is becoming more and more popular. Many people want to use solar power instead of traditional electricity. This trend is not at all bad; in fact, using solar power helps the environment and it can save a person a lot of money.
An individual who does not have the money to buy solar paneling may feel tempted to lease the panelling instead. There are numerous companies that lease out solar panels and one does not need to have exceptionally good credit in order to get the lease. A lease can help a homeowner to cut down his or her electricity bill by as much as 15%. Those who are concerned about the environment will also gain the knowledge that they are doing their part to help save the planet. Leasing solar panels cost much less than buying them outright. The company will then take care of the panel installation and any repair work or maintenance work that needs to be done on the paneling.
However, there are a number of pitfalls and disadvantages to leasing solar panels. Selling a house with a solar panel lease is very hard. The reason for this is that most leases last for many years, so the person buying the house would need to be willing to take on the lease. While many buyers do not mind buying a house with solar paneling installed, most are not interested in assuming the responsibility of an already made lease agreement. This means that the homeowner would need to lower the selling price of the house or break the agreement, which is costly and difficult.
If you invest in your own solar paneling, there are some benefits that you would be able to take advantage of. If you own the solar paneling, you may quality for a rebate from your state utility company. If you buy the paneling, you can also get a generous tax rebate from the government. A person who owns his or her own solar paneling can also earn RECs (renewable energy credits) that can then be sold. However, these benefits are only available for those who buy the panels instead of lease them. Solar companies make a lot of money off of leasing the paneling as they get all the above mentioned benefits due to the fact that they own the paneling and are taking full responsibility for it.
It is only recently that companies have started offering solar panels for lease as well as for sale. Leasing solar paneling may sound like a good idea, as it is relatively cheap and hassle free. However, a person should be aware of both the advantages and disadvantages of leasing solar panels before entering a lease agreement. Anyone who is considering selling his or her house should especially avoid solar paneling. Besides the fact that leased solar paneling does not save one a lot of money, it also makes it next to impossible for one to sell his or her home.