Buy or Lease Solar Panels

Congratulations on deciding to go solar! As you may know, there are two very different options for going solar. You can buy or lease solar panels for your home. There are pros and cons to each option, but both options afford you the same ability to enjoy fantastic environmental benefits.

solar consultation

Buying Solar Panels
VS.
Leasing Solar Panels
Cost
  • The immediate costs of a solar system are greater unless financed
  • You enjoy free electricity for 20-30 years
  • Financing only requires a 640 credit score
  • Your initial costs may be lower
  • You continue to pay for electricity (even the power the solar panels produce)
  • Requires a credit score above 680
Savings
  • You’re eligible for state and federal tax credits, rebates, and other various incentive programs
  • Tax credits and rebates where available can reduce the cost of the system by up to 50%.
  • You can sell your energy to utility companies through the MA SMART program
  • Your home’s value appreciates
  • You can earn annual returns on investment
  • You are not eligible for any rebates, tax credits or incentives
  • You cannot sell your energy back to the utilities (the leasing company does)
  • Your home value does not increase because you do not own the system
Maintenance
  • You are responsible for your system’s maintenance after warranties expire
  • You must navigate a financing plan, or pay for the panels outright
  • The solar leasing company is responsible for maintaining your solar panels
  • You and your home are committed to a 20 year contract which is extremely difficult to transfer in the event of a property sale

Looking to finance your solar panels?

Energy Monster Offers Instant Affordable Financing

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Go Solar Today, It Makes Perfect Cents!
Call (855) 627-7674 to get started! Or fill out the form below.

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FAQs

  • Are there incentives for solar installations?

    Yes! A 26% federal tax credit and a $1000 state of MA tax credit is available for every solar installation. You may also enroll in the Massachusetts SMART program, which allows you to collect payment for all of the solar energy you produce regardless of if you use it or send it out to the grid (this is separate from net metering). Commercial solar installations are eligible to depreciate their solar installations on top of the tax credits.
  • How long will my solar project take?

    The size of your project will dictate how long it will take. Most residential installations typically take a couple of days.
  • Is there financing available?

    Yes! 100% financing is available subject to credit approval.
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