Leasing vs Purchasing Solar: Which Is More Suitable for You?

Author profile image for Nate Lewis, Chief Revenue Officer
  • Nate Lewis
  • Chief Revenue Officer

While there are some who know making the switch to solar is best for their home or business, there are others that are not fully confident they can afford to move to solar energy. In both types of parties, we hear one common question: Should I purchase the solar energy system or lease it?

Our Coachella Valley solar energy experts are here to answer this question. In doing so, our hope is to better explain the advantages of paying for a system in cash, purchasing a system through a SunPower loan, and leasing a system through a SunPower lease.

Let’s get down to business.

Purchasing a System in Cash

Not everyone has large amounts of cash sitting in the bank, and for those that do, keeping it in the account for a rainy day or an emergency is typically the best bet. However, for those who are set on switching to solar energy for their home or business and are interested in the least out-of-pocket over the life of their solar panel system, purchasing a residential solar or commercial solar system in cash may be the best option. Aside from the most affordable overall price, those who pay for their system in cash also receive the following benefits:

  • Customer is eligible to take 26% tax credit
  • Power Production Guarantee (The panels are guaranteed to produce a certain amount of power for each 12-month period. If they produce less, the solar panel company will compensate you
  • 25-year manufacturer’s warranty

Purchasing a System via a SunPower Loan

For those who want to enjoy all the benefits that solar offers but also want to increase the value of their home in terms of resell value, purchasing a system through a SunPower loan is a great option. When a person chooses to go through a SunPower loan, they can enjoy the following:

  • $0 down
  • Customer is eligible to take 26% tax credit
  • Power Production Guarantee
  • Immediate Savings
  • No prepayment penalty
  • 25-Year manufacturer’s warranty
  • Payoff or Transfer at Sale of Home

Leasing a Solar Energy System via a SunPower Lease

For those interested in enjoying all the savings that solar brings but who want a bit more freedom in terms of commitment, leasing is a great option that also guarantees a zero-cost start-up! Those who choose to switch to solar via a SunPower lease can enjoy the following benefits:

  • $0 down
  • Customer is eligible to take 26% tax credit
  • Power production guarantee
  • Immediate Savings
  • 25-Year manufacturer’s warranty
  • Payoff or transfer at sale of home

Renova Energy Has Options for Everyone!

When it comes to helping others make the switch to solar, there’s nothing our Coachella Valley solar experts enjoy more than helping customers find the right option for their unique lifestyles and financial situations. That’s why we are 100% committed to helping you make the most educated choice possible. So, if you’ve been considering going solar but have been apprehensive due to confusion about which option is best for you, we urge you to get in touch with our team. We promise to take the time to understand your needs and make suggestions based on your level of comfortability.

Call Renova Energy today and let our solar experts of the Coachella Valley help you make the switch that will help you save big all while reducing your carbon footprint. We can’t wait to work with you.

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