4 Frequently Asked Questions about “Solar power generation or leasing - Shore Power Energy”
Should you lease or buy solar panels?
If your local electrical grid provides affordable energy at a lower cost than your solar panel lease, leasing may not be your best option. Similarly, consider whether you can make up the cost of your solar panel purchase with energy savings if you decide to buy the system outright. How to Decide: Is Leasing or Buying Solar Panels Right for You?
What is the difference between leasing and buying solar panels?
Important differences between leasing and buying solar panels include ownership, incentives, and home-selling implications. When purchasing a solar panel system, you own it and receive all the benefits and potential savings that come with it.
Do I need a power purchase agreement to lease solar panels?
You get to use the solar panels you're leasing and take advantage of the solar energy they produce, but you don't own the solar panel system. A power purchase agreement, or solar PPA, is an agreement to purchase the electricity the panels generate, so your monthly payment depends on how much energy you use.
Is solar leasing worth it?
Solar leasing can definitely be worth it. A solar lease can reduce your overall cost of electricity, especially if your local cost of utility electricity increases rapidly. It's always wise to consider all your options, but a lease can be the best for some people.
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