Owning vs. Leasing Solar Panels: Which is Better?

solar-cam-300x200You may have heard about solar panels that you can lease, rather than own. While this makes solar accessible with minimum upfront investment, there are still plenty of reasons to buy. Enhabit does not offer a lease option.

5 reasons to lease solar panels

1. You are primarily interested in using renewable energy and less concerned about financial benefits

2. You don’t want to make a cash investment or finance a purchase

3. You don’t pay enough in federal or state taxes to benefit from tax credits

4. You don’t want maintenance and associated costs

5. You don’t expect to sell the home (some buyers may not want to assume the lease)

5 reasons to own solar panels

1. You are strongly interested in financial benefits

2. You want to reduce the federal and state taxes that you pay

3. You’re able to pay cash or are willing to finance

4. You are planning to sell your home in a few years and want to increase its value

5. You plan to borrow against your house (a lease may include a “fixture filing” which could affect credit applications)