Leasing solar panels versus purchasing solar panels is an increasingly popular choice amongst Bakersfield residents. Indeed, Californians aren’t purchasing solar panels as much as they are leasing solar panels.
According to the Climate Policy Initiative, “over 75 percent of California’s new residential solar systems in 2012 were leased.” So, what does leasing do for Bakersfield homeowners that buying doesn’t? Leasing gives homeowners the perks of solar power without needing to spend more money right away for their own system.
However, there are pros to buying solar panels versus leasing. Here at Next Phase Electric, we believe in providing our customers with the best and latest in electrical technology, and we are confident that solar energy is the future. Let’s break down each option so you can make an informed decision.
We’ve got it all taken care of. Bakersfield’s premier electric company will help you decide the right option.
Most solar leases run for at least 15 years minimum, and some run for 30 years maximum. Therefore, selling or moving out of your home before your lease contract expires may enact some issues with the next occupant.
Many Bakersfield solar companies require a high credit score to lease a system. Always ask your local leasing company about their credit score requirements.
You can only lease solar when you own your home. If you aren’t a homeowner, talk about solar leases with your landlord first before you jump into anything.