Solar leases are a lot like a lease on a car:
Solar leases differ from auto leases in three important ways:
With a lease, the contract lays out how much your panels will cost for the duration of the lease, including any escalators. Many people prefer this versus having to constantly wonder how much the next rate increase will be from your utility, and prefer the convenience of not having to deal with any maintenance or be liable for any work that needs to be done to their solar system.
As with a power purchase agreement, most lease providers offer the option to buy the panels at the end of the lease term at a discounted price.
Since the leasing companies are so large, they are able to take advantage of many special tax benefits that regular homeowners can’t take advantage of, and these companies are then able to offer leases at a discount to residential buyers.
Solar leases are offered by a number of different providers and installers working with different solar project financing companies. Solar leases are available from far fewer companies than solar loans, but they are still quite common. Many large leasing companies also offer leases while working with smaller installers.
All of our providers offer the full spectrum of solar finance products, from loans to leases, PPAs and cash purchases. However, solar leases, unlike solar loans and cash purchases, are not available in all areas due to state and local regulations. By entering your zip code in the submission box on the top of the page we can show you which pre-screened lease providers we work within your area and if leases are indeed offered in your area.
Interested in getting exact prices for the cost solar for your home? Get competitive solar quotes from qualified, trusted installers in your area. To see an estimate for how much you could expect to save and how much a solar system would cost, try our solar calculator.