Is A Solar Panel Lease Right For Me

Solar panel installation can lower your bills and give you more energy independence. You can lease, buy, or finance a system depending on your goals. When comparing financing options, there are three main factors to consider: upfront cost, long-term savings, and level of independence. Each path has trade-offs, so the key is finding the balance that fits your situation.

Solar Financing Options

Is Leasing Solar Right For Me?

A solar panel lease is the lowest-cost way to get started. You make a fixed monthly payment for the electricity produced by a system which is installed, owned, and serviced by somebody else. Leasing is best if you want little or no upfront expense, predictable bills and service costs included.¹ Most leases come with a performance guarantee. The provider commits that your system will meet a minimum output. If it falls short, the provider will fix the issue and refunds the portion of lease payments tied to the downtime, so you never pay for periods when the system is not available. The trade-off: you don’t own the system, so lifetime savings are lower and you don’t build equity. An option to purchase the system is sometimes available.

Is Purchasing Solar Cash Right For Me?

With a cash purchase, you pay the full cost upfront and own the system outright. This delivers the highest lifetime savings, no financing costs, and no monthly payments. It’s ideal for homeowners with available cash who want maximum return. The downside is the high upfront cost, and while state and other incentives remain, the federal homeowner tax credit ends² in 2026.

Is A Solar Loan Right For Me?

A solar loan gives you ownership while spreading payments over time. Most loans require about 10% down and offer flexible terms. Compared to a lease or a PPA, a loan provides higher long-term savings and ownership from day one. But interest and fees reduce total returns, and approval depends on your credit.³

Which option is right for you?

• Choose cash for maximum savings.
• Choose a loan for ownership with manageable payments.
• Choose a lease for predictable costs, with performance guarantees.

Your best choice depends on your budget, credit, and how long you plan to stay in your home. Comparing costs and terms side by side will help you find the right fit.

The fastest way to find out which option works best for you is to talk to an expert.

To compare financing options and see how much you can save with solar speak with an solar advisor.

Schedule a consultation with a Tesla Advisor