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Considering leasing solar panels? Here are the pros, cons, and red flags you need to know

"It is crucial that all countries begin to seriously evaluate which sources of energy can bring the most benefits."

"It is crucial that all countries begin to seriously evaluate which sources of energy can bring the most benefits."

Photo Credit: Depositphotos.com

People know solar energy helps ensure a climate-friendly future — and that going solar saves money on energy costs. However, the reality of navigating installing solar panels and making that transition is a little more daunting for some.

Even though, according to the U.S. Department of Energy, solar costs are always decreasing, the initial cost of purchasing and installing solar panels intimidates some. 

That's where solar leasing comes in. "Leasing solar panels is like leasing a car," explained SolarReviews. "You don't own the solar panels, but you do get to use the solar energy they produce for a fixed monthly payment."  

Solar panel leases usually extend for 20-25 years, about how long a solar panel lasts. 

In addition to lowering both monthly energy costs and planet-overheating pollution, maintenance of the panels falls on the leasing company, not the homeowner. There's also usually $0 down expected, so the initial costs of going solar are avoided.

Of course, issues might arise. The main concern is that there may be trouble selling a home with solar panels if that's not what someone's looking for.

Companies like Palmetto can help people make the best choices for their homes. Palmetto's LightReach program assists consumers as they explore leasing options.

Still, owning and installing solar panels might be a better, more permanent option for some. The company EnergySage offers a free, easy service to compare quotes from vetted local installers and save up to $10,000 on solar installations.

For someone who's not sure whether to lease or buy, a guide like Palmetto's Pros and Cons list can be handy.

Whether buying or leasing solar panels, people will save money, and maybe more importantly, help save the Earth from climate change by reducing people's dependence on dirty energy that fills the air with heat-trapping gases.

"As we are quickly running out of time in the race to reach zero emissions," the website Earth.org said, "it is crucial that all countries begin to seriously evaluate which sources of energy can bring the most benefits … [Solar energy] certainly has undeniable potential and it [is] still a better alternative to environmentally unfriendly fossil fuels, beyond being the best chance we have at stopping global warming."

If you were to install home solar panels, which of these factors would be your primary motivation?

Energy independence ⚡

Lower power bills 💰

Helping the planet 🌎

No chance I ever go solar 🚫

Click your choice to see results and speak your mind.

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