Is it better to lease or buy solar panels? #
Leasing and buying solar panels come with their own unique advantages.
Purchasing solar generally requires upfront investment which can make it cost-prohibitive for many. That’s why Off Grid Energy offers stress-free solar leasing so you can go solar for as little as $0 down. When you lease solar panels or pay for power through a Power Purchase Agreement (PPA) you are only responsible for a locked-in monthly payment. Since Off Grid Energy owns the system when it is leased, we’ll also provide top-notch monitoring and maintenance during the length of your agreement, free of charge. That means clean, worry-free energy. And if it breaks, we’ll fix it.
We also know that many people want to own their equipment which is why Off Grid Energy also gives you the option to buy your solar panels. When you own your solar system, you own your production and all the benefits that come with solar investment. That means solar incentives like state solar rebates, net metering and the federal solar tax credit will go directly to you. However, you’ll be responsible for any repairs and maintenance your solar system needs outside the scope of your solar system’s warranty.
To learn more about which solar plan is right for you, get connected with one of our solar advisors today at 1-844-321-6937
What is the average cost to buy solar panels? #
Depending on the state, a home solar system can cost between $15,000 to $29,000 for system sizes ranging from 4kW to 8kW.* The more power your household uses, the more solar panels you’ll need, which will add to the cost of your solar system.
Sound like a lot? The upfront cost of a solar system doesn’t have to keep you from going solar. Get in touch with an Off Grid Energy solar advisor to see how you can go solar for as low as $0 with our flexible financing options.
*Figures based on national averages: https://www.solar-estimate.org/
Will owning solar panels increase my home value? #
Studies have shown that owning home solar panels can significantly increase your property value.* Solar homes in California sell for $20,000 more on average, while solar homes in other states sell for about $15,000 more. With numbers like that, you can likely recoup the cost of your solar system when you sell your home. Not only will you enjoy clean, reliable energy, but you’ll also know you’ve made a smart investment.
*Source:https://emp.lbl.gov/publications/selling-sun-price-premium-analysis
How does a solar system purchase work? #
When you purchase a home solar system from Off Grid Energy, you purchase the equipment and Off Grid Energy takes care of everything related to the installation. When you buy your own system, you will directly receive the applicable federal and state solar incentives, tax credits and rebates.
Off Grid Energy offers two different ways to finance your solar purchase: Monthly Loan and Monthly Lease.
The Monthly Loan option is the full upfront purchase option where you would pay for the full price of the system at installation.
The Monthly Lease option allows you to finance your solar system purchase with low, fixed monthly payments, upon qualification, at a competitive interest for as little as $0 down.
With either solar purchase option, you also have the option to add Protection Plus which is our service package that includes system monitoring and maintenance for the lifetime of the agreement.
What is the benefit of home solar financing? #
With the Monthly Lease option, you can enjoy the benefits of going solar like a lower electricity bill, tax credits, solar rebates and hassle-free financing without having to pay the full cost of a solar system up front. We partner with trusted loan providers to help you get fast approvals and low, fixed interest rates, hassle-free.
By financing your system, you can enjoy the benefits of going solar at little to no up-front cost.
Are solar loans tax deductible? #
The interest on loans for solar panels are only tax-deductible if they are secured loans, such as a home equity loan. A monthly Lease is an unsecured loan through one of our trusted loan partners, so the interest on your loan will not be eligible for a tax deduction. However, you’ll be able to purchase a solar system for little to $0 down with the added benefit of low, fixed interest rates. You’ll also still be able to take advantage of incentives like the federal solar tax credit. To learn more, contact one of our solar advisors to see if you qualify.
