Solar Ownership vs. Leasing, Which one is better?

Hello Solar friends! This is Channel from PurePoint Energy. Installing solar panels on your home is an asset to your home's energy usage and home value. They save you money from your electric bill and increase the value of your home. There are two types of ways you can go solar for your home; Ownership and Leasing. Owning your solar panels means you have invested the money necessary to completely pay for the system. Leasing your solar panels means you have agreed  to finance your solar system and pay it off over time.  Owning or Leasing your solar panels can affect your homes resale value.

Ownership

• According to a study led by the U.S Department of Energy's Lawrence Berkeley Laboratory, found that home buyers are willing to pay more for homes with solar panels that are owned. 

• The study consisted of analyzing 22,000 sales of homes in eight states between 1999 and 2013 and almost 4,000 had solar panels. 

• They found that a solar power system is worth about $15,000 to home buyers or an estimate of about $4 per watt.

Leasing

• According to an article on npr.org, they say there isn't enough data to show whether the home value of a home decreases when there are leased solar panels installed.

• Bloomberg Business states, for potential buyers "a solar lease is a liability rather than an asset and may drive people away."

• A homeowner sold his solar paneled house for $140,000, when his asking price was $155,000. He had to lower the price three times, up to the point that the price of the house was lower than the price of the houses without solar to get people interested.

When going solar for your home, both options of of Ownership or Leasing have it's advantages and disadvantages. Thinking about the long term affects on your homes resale value is important when considering which option is best for you. 

Here at PurePoint Energy, we offer many financing options that can help with making the transition to solar affordable. If you do not want to finance your solar system, there are many solar rebates, tax credits and incentives that also help make going solar more affordable. One of them  is 30% Solar Tax Credit that will only remain until December 31, 2016!. Schedule an appointment with PurePoint Energy and go solar today!.