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Leasing vs. Buying Solar Panels: Which is Right for You?

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When considering going Solar it’s important to consider the options for leasing vs buying solar panels.

Want to go solar? More than 600,000 homes in the United States now have solar panels — and affordable leasing programs have contributed to that number. But is renting always the best option? Read this information about leasing vs. buying solar panels before you go any further.

To Buy or Not To Buy

Buying solar panels is a great option if you own your home or business. Although you will need to pay for upfront costs and installation, solar panels can provide you with a huge return on your investment. Then there are other financial incentives. Solar energy tax credits and rebates, for instance, can reduce the cost of a solar power system by as much as 30 percent. But how much will you save? If you installed a 3 kilowatt solar system on the roof of your home today, it would take nine and a half years before it started paying for itself. On the flip side, you could generate total savings of $22,000 over the next 25 years and increase the value of your property by $17,000. Pretty impressive, right? In Colorado, the cost of solar panels is even less when you qualify for the property tax exemption program.

The downside to buying is that you will need to maintain the unit; however, taking out a protection plan can lessen the financial burden if you need to fix your system. Maintenance might be less of a problem than you might think — especially when the only outlays are the occasional clean.

Is Leasing Smarter Than Buying?

Leasing solar panels can be a cheap way to obtain affordable energy without having to pay any upfront costs. You can “lock in” energy prices, which can save you money if rates increase in the future. Better yet, your solar panel system is installed for free, and you won’t have to pay for maintenance.

If you’re a homeowner, leasing might seem attractive — especially because you won’t have any setup costs — but your residential solar system could prove to be a headache if you sell your property. Prospective home-buyers might balk at the prospect of a solar home, especially if they need to make payments on the remainder of the lease term or meet strict credit requirements.

Deciding whether to buy or rent your solar panels depends on your finances and personal circumstances. Want a good solar panel ROI? It’s better to buy. Don’t want to fork out on operational and installation costs? Leasing is a good idea. Think of the future. Where you’ll be in five or 10 years will help you decide whether buying solar panels is a good investment. Interested in installing solar panels for your home? Request a free Colorado solar panel installation quote today!

wind storm emergency kit

10 Power Outage Emergency Kit Must-Haves and What to Do First

December 17, 2021
Wind Storm Wednesday, December 15th, brought home the fact that Colorado power outages can come at any time. Damage to power lines, stress on the grid, snow, wind, fire, and rain can all cause the power to go out. You can be safe and prepared with a plan and a basic tool kit.
/wp-content/uploads/2021/12/wind_storm_emergency-kit.png 330 495 Chris Allis /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Chris Allis2021-12-17 13:38:002021-12-23 15:32:3310 Power Outage Emergency Kit Must-Haves and What to Do First
fall solar sale x

Eight Reasons Fall is the Best Time to Order Solar

October 27, 2021
Solar panels generate more energy during summer, but fall is the best time to order. You can save more on your utilities...
/wp-content/uploads/2021/10/fall_solar_sale-495x330-1.png 330 495 Chris Allis /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Chris Allis2021-10-27 13:26:042021-12-23 15:34:33Eight Reasons Fall is the Best Time to Order Solar
ecomark solar and storage x

How to Get 10x Value from Your Solar Panel System with Storage

August 17, 2021
Adding Storage to your solar panel system is a smart move now. While solar panels can decrease your energy bills...
/wp-content/uploads/2021/08/ecomark-solar-and-storage-495x330-1.png 330 495 Chris Allis /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Chris Allis2021-08-17 18:54:142021-12-23 14:39:08How to Get 10x Value from Your Solar Panel System with Storage
How Much Does Solar Cost

Make Power Outages a Thing of the Past For The Future of Your Home

July 16, 2021
Thanks to recent advances in technology, EcoMark Solar has multiple battery options for solar systems.
/wp-content/uploads/2021/07/how-much-does-solar-cost-700467-1.jpg 467 700 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 17:17:462021-11-23 16:14:31Make Power Outages a Thing of the Past For The Future of Your Home
Colorado Solar Panels in the Rockies

4 Things They Don’t Want You to Know About Solar Energy

July 16, 2021
/wp-content/uploads/2021/06/colorado-solar-panels-in-the-rockies.jpg 700 2000 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 17:15:352021-07-20 12:33:024 Things They Don’t Want You to Know About Solar Energy
Colorado Solar Panel Installation

Winter Solar Panel Maintenance Tips

July 16, 2021
/wp-content/uploads/2021/07/colorado-solar-panel-installation-2000-700.jpg 700 2000 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 16:57:582021-07-21 01:56:43Winter Solar Panel Maintenance Tips
how solar panel installation works

What is Net Metering, and How Does it Work?

July 16, 2021
/wp-content/uploads/2021/08/how-solar-panel-installation-works-700x467-1.webp 467 700 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 16:56:042021-08-16 18:48:15What is Net Metering, and How Does it Work?
How Much Does Solar Cost

What happens when your solar system gets hit by hail?

July 16, 2021
/wp-content/uploads/2021/07/how-much-does-solar-cost-700467-1.jpg 467 700 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 15:58:452021-07-21 02:30:34What happens when your solar system gets hit by hail?
Best Solar Panel Installation Products

What Are the Financial Incentives for Going Solar?

July 16, 2021
/wp-content/uploads/2021/07/best-solar-panel-installation-products-700467.jpg 467 700 Max Cowles /wp-content/uploads/2021/06/ecomark-solar-logo-with-panel.png Max Cowles2021-07-16 15:53:482021-07-21 02:09:17What Are the Financial Incentives for Going Solar?
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