A Redditor sought advice before inheriting a previous homeowner's solar panels.
A post on the r/solar subreddit shared one user's apprehension about the solar lease they would inherit if they bought the house they were planning on purchasing.
The Redditor explained, "Fighting to buy it out may result in my losing this house, which besides the solar, is basically the best option I'll ever have to live in the town I need to live in."
Just eight years into a 25-year contract, the potential buyer would be locked into the solar contract for a further 17 years. While they may not have chosen to lease the solar panels of their own volition, it would secure an electricity rate of 12.5 cents per kWh, which could be an attractive deal in an age of rising electricity costs.
Switching to solar is one of the best ways to save money on home energy while choosing a more planet-friendly option. Although the upfront costs of installing solar panels can make purchasing them impossible for many, leasing them could make renewable energy accessible.
Palmetto offers a LightReach leasing program, which lets you explore installing solar panels while minimizing upfront costs. Some plans don't even require an upfront payment.
Doing a little research can help you stay well informed on the pros and cons of leasing versus buying solar panels.
Installing solar panels could see your energy bills drop to almost nothing. If you'd prefer to buy solar instead of leasing it, EnergySage offers free tools to get estimates on purchasing and installing panels, and comparing quotes couldn't be easier. The company could even net you savings of up to $10,000 on solar installations.
No one wants to be backed into a corner with a deal, but most commenters encouraged the Redditor not to worry about buying the house with the solar lease.
One baffled Reddit user commented, "Bro, what? That's a dream right there. Massachusetts is at .38 cents, increasing quarterly. That's better than the Florida price."
Another user agreed, saying, "I'm not sure what the local kWh rate in NJ is, but in CT that would be an extremely amazing deal."
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