Leasing a Solar System
Leasing solar panels allows you to immediately save money on your energy bills for little to no upfront cost. Under lease options, your solar provider also takes care of any necessary system maintenance and is responsible for the proper disposal of your system at the end of its useful life, which takes some of the more complicated aspects of solar system ownership out of your hands.
Purchasing a Solar System
While solar panels may have a steep up-front price tag, the average time it takes to get a full return on investment is 7-10 years.2 With the average lifespan of a solar panel falling between 25-30 years, purchasing a solar system is a great way to set yourself up for low energy bills in the long term if you're planning to stay in your home for quite a while.3 While both lease and purchase options can set you up for savings on your utility bills, purchasing your system will result in a higher payoff.