We are intersted in installing solar panels on our 23 year old home. What do you think about companies that offer leasing options for instal

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We are intersted in installing solar panels on our 23 year old home. What do you think about companies that offer leasing options for instal

Asked by J. Lopez

I see many companies that offer a site inspection, quote, and $0 down/ leasing options for solar panels to be installed on exsisting homes. This seems like a tempting option for home owners who may not have the money up front to outright instal solar on their homes, but what to lower costs and make greener choices for their property. Is this too good to be true?

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Sean Lintow Sr's picture

In short - generally run far & fast. Long answer - first see what you can do about reducing usage - air-sealing, insulating, changing of bad habits, etc... As for solar vrs. buy - you maybe able to get a low interest loan that the solar can actually help you pay for (assuming your area offers feed in or just by how much you reduce your electric bill). Don't also forget the rebates available which the leasing company is going to pocket instead of you. The best place to look is DSIERUSA Next I will point you to this piece by Run On Sun - it is pretty well written & is great at summarizing the NREL report (http://runonsun.com/~runons5/blogs/blog1.php/solworks/top-5-reasons-to-s...) which includes the issue of appraisals, how much it will cost, and problems with selling your home. The final one which has been popping up lately is the use of engineering studies AFTER the lease is done where you will find yourself getting a smaller system but paying the same