Solar Panels: “To Buy or To Lease?”

Decade ago, buying solar panels is not that easy as it could be right now. Solar panels before is way too expensive that ordinary people choose to lease solar panels rather than buying them.

But time runs too fast, solar can be acquired by anyone right now, owning is becoming the more popular, and in the long run, more affordable route to reducing your carbon footprint AND your electric bill.

This is the time

The truth is that decade ago; a solar panel array will cost every individual for about $30,000. Currently, these solar panels before is now ranges from $15,000 – $18,000 which is like its 50% off!

As prices for panels continue to fall, more and more people can now afford to buy one for their rooftops. Prices are also decreasing for soft costs — taxes, permit fees, inspections and labor costs. According to Deutsche Bank soft costs are predicted to drop by 50% over the next four years which is a pretty great deal for all.

Leasing

Upfront costs are often the biggest hurdle to overcome when deciding to own or lease — and new loans specifically designed for solar system purchase are becoming increasing popular.

“The solar loan market has exploded. Every…financier has introduced or is planning to introduce a loan, and an entirely separate group of pure-play loan providers has emerged,” GTM Research solar analyst Nicole Litvak said.

Conclusion

There are still some people that consider leasing solar panels rather than buying them, well, leasing solar panels is still a viable option, but with the price of solar panels continuing to fall and ownership is becoming a more attainable, buying solar panels is now the best option to call.