Whether you buy or lease, you will save a lot of money by installing a solar power system. You save the most money, and add value to your home, by buying your solar power system. Leasing solar power doesn’t add value to your home, and it can make selling your home more difficult. If the new buyer doesn’t want to take over your lease, you’ll have to buy out your lease and have the system removed.
A solar system will add value to your home
The amount of value solar adds varies by state, and even by neighborhood. But on average, you earn $1.85 for every dollar you spend on solar. Going solar may also help you sell your home faster. The National Association of Realtors reports that homes with solar systems sell around 20% faster than homes without solar. If your home is in an area where people value “going green” solar may add even more value to your home.
You can’t take it with you. A question that comes up from time to time is: Can I take my solar system with me when I move? The answer is that it’s hard. Solar systems are custom-built for the home they are installed on. To move a solar system, it would have to be redesigned to fit the new home.
Leasing won’t add value to your home
Leasing a solar system doesn’t add value to your home. It can also make it much harder to sell your home. You either have to convince the new owner to take over your lease, or buy out the lease and risk eating that cost. Leases are usually for a 20 year period, so if you plan to lease you should also be planning to stay in your home long term.