A solar lease may be a great option for you if you want to see immediate savings on your energy costs and prefer not to invest in purchasing a solar system.
Is a Solar LeasE right for You?
Just like when you lease a car, with a solar lease you make payments for the right to use your solar equipment for a set period of time without actually purchasing it. The solar equipment belongs to the leasing company, which in our case is our solar equipment supplier, SunPower.
A lease might be right for you if:
- You want to go solar with $0 upfront cost
- You don’t want the responsibility of owning your solar system
- You want to see immediate savings
- You want to stabilize your monthly electricity payments
- You aren’t sure you’ll have enough tax liability to claim the federal income tax credit
“They did a great job start to finish. Never felt pressured to pick a lease or purchase, but [they] clearly laid out all my options and let me choose.”
SEAN M., LIBERTYVILLE, ILLINOIS
Solar Lease Frequently Asked Questions
Will I save money with a solar lease?
We only offer leases where the annual payments on the lease are less than what you would pay to your utility for the same amount of electricity the system will provide. If leasing does not provide you with any savings, we will advise you to find another solution.
Will I receive government incentives with a lease?
Solar lease customers do not receive the federal tax credit or any state incentives, but the lessor (the owner of the system) does receive them. Lease customers benefit from the incentives through a lower monthly payment than the lessor would otherwise be able to offer. A solar lease is a great option if you are not sure you will owe enough in federal taxes to use the federal solar tax credit yourself.
What happens when my lease ends?
You have three options: You can extend the lease, purchase the system, or have the leasing company remove the system at no cost to you.
What happens if I sell my home?
You can transfer your solar lease to a new homeowner when you sell your house.
How long is the lease?
All the leases we offer are 20 years. Some other companies offer leases with 25 year terms. However, we feel that is too long. It is likely that after 20 years you’ll be thinking about replacing your roof.
JANE L., ELGIN, ILLINOIS
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