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Solar Energy Equipment: Buying vs. Leasing

As more and more homeowners are looking for both more efficient and more environmentally friendly ways in which to power their homes, more and more of them are turning to solar energy. Doing so raises some questions, though. Most of these are about precisely how it is that solar energy is converted into usable electricity for use throughout the home. Another important question that homeowners frequently have, though, is whether it makes more sense to buy their solar equipment, or if they should lease the equipment and pay regular fees for its use. We’ve put together a bit of information to help you decide which option is best for your solar energy system in Fresno, CA. Contact Donald P. Dick Air Conditioning with any questions that you may have.

The Case for Buying Is Strong

Buying one’s solar system equipment outright offers many benefits. Of course, it does require a pretty substantial initial investment. While most homeowners will not have the type of capital that investing in solar panels and the other necessary equipment requires just lying around, it is possible to get loans or financial assistance for making the initial investment. Once you have, there is also the federal tax credit to consider, which can bring the actual initial investment cost down quite substantially. While the most obvious benefit of using solar energy is, of course, lower monthly utility bills, homeowners generating enough energy can further capitalize on their investment, selling Solar Renewable Energy Certificates to companies mandated to get some of their electricity from renewable resources.

Leasing Has Its Own Benefits

When you lease your solar panels and equipment, you won’t have to make a substantial initial investment. A monthly fee is payed for leasing the equipment, which mostly replaces electricity costs. Buying leased panels down the road is an option, generally at discounted rates. Many companies leasing panels will keep the government subsidies, while leasing you your panels, so while there is no major investment, there is also no money coming in from the investment. Also, though, you won’t have to worry about all of the calculations and other considerations in determining precisely how much you are saving. When all is said and done, buying your solar equipment will be a more worthwhile investment in most ways. The ease of leasing, though, combined with the zero-risk investment, is too good for many homeowners to pass up.