I've been quoted $28K to buy a 10kW system or $0 down with a 25-year lease at $130/month. The lease company says I'll save from day one but buying seems better long-term. What are the real pros and cons from people who've done this?
Buy if you can afford it, period. With a lease, the solar company keeps the tax credit, the RECs, and they own the equipment on your roof for 25 years. If you sell the house, the new buyer has to assume the lease or you have to buy it out. Buying outright or with a solar loan means you get the 30% federal credit, you own the asset, and you add to your home value. The lease only wins if you literally cannot qualify for any financing.
We leased and regret it. Seemed great at the time — no money down, lower bill immediately. But 5 years in we wanted to sell and the lease was a nightmare. Buyers didn't want to assume it, and buying out the lease cost us $18K. If I could do it over, I'd have taken out a home equity loan to buy outright.
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