Rent Solar Panels

Should You Buy or Rent Solar Panels? The Details You Need to See

Home solar systems have become increasingly more affordable over time. We’re now in the middle of an energy revolution with solar being more accessible to families in New York. Even as it has become easier to install solar panels at home, there are still plenty of companies out there offering services to rent solar panels.

The marketing is usually quite appealing. Save money without paying for a system upfront, for just a small monthly fee. While it might seem like a great idea, you can get caught out if you decide to rent solar panels.

Should you invest in a system you own or rent solar from a local provider? The following information will help you to decide.

What Makes Renting Solar Panels Appealing?

The reasons to choose renting over owning solar panels are promising at first…

  • There’s no initial cost for the installation. You’ll sign up for a rental contract and technicians will come to install the panels on your rooftop.
  • You won’t need to pay for cleaning and maintenance (in most cases).
  • You can take advantage of net metering where your utility company will compensate you for energy you produce but don’t consume. Excess production will be sent out to the grid.

This all sounds great, but when you compare it to owning a system, the appeal starts to diminish.

If you’re interested in a New York Solar Installation, please call us. We’ll explain the process and get you energy independent as soon as possible!

The Advantages of Buying Your Solar System

When you purchase rather than rent solar panels, you’ll get all the above benefits plus more…

  • You won’t pay anything upfront to get solar. You can choose SMART solar financing with no money down.
  • Financing is affordable and there will be an interest-free period.
  • You can get tax credits and incentives when you own solar. These benefits aren’t available when you rent panels.
  • You will still have access to net metering to improve your month-to-month savings.
  • Your solar panels will last for 25 to 30 years, and you will get 24/7 support and a 25-year warranty from New York Power Solutions.

One of the biggest differences with owning your system is that you won’t be tied to an unfavorable contract. When you rent, you will typically pay for a 20-year contract where the advantage is very much with the provider. Owning your panels gives you more freedom, with no risk of the deal becoming unfavorable over time.

SMART solar financing essentially makes it unnecessary to rent solar panels. You can invest in a system that you own, with all the financial benefits going directly to you. Tax credits can be tied directly to the financing to ensure an interest-free period with no money down. You won’t find a better deal when renting solar panels.

Are You Ready to Get Your Free Home Solar Estimate?

You can explore your options for solar, risk-free, with a free home solar estimate. New York Power Solutions will take you through a detailed consultation process and provide a cost/benefit breakdown so that you can see the financial value of making the switch.

Solar is one of the most valuable investments for your home, especially when considering the long-term returns. Before you rent solar panels, talk to local experts. You’ll see just how affordable it can be to finance solar for your home. Get your free estimate now and begin your solar journey.