Lease Solar Power System

When you lease a solar power system, the installers will go through the same process as if you purchased the system and install it at your residence, but the difference is that you don’t own the system. Instead, you pay a monthly lease payment, which is usually less than your electricity bill for the same amount of power, and the company takes care of the rest. Most solar leasing companies include a buy-out clause so that you can get some of the benefits of the purchased solar power system.

ProsCons
  • Typically $0 to start

  • You have the chance to buy-out the system later

  • Start saving on your Energy bill day one

  •  Lock in low rates per kWh
  • Ongoing maintenance and support

  • Not all programs allow you to take advantage of federal tax incentive

  • Buy-out is usually 5-8 years after initial install

  • Property value doesn’t increase, unless you buy-out the system

  • Requires site evaluation, which could lead to additional costs to be in compliant with the install

  • Your residence may not have enough roof space or be shaded, which will limit the amount of electricity generated

Below is a vendor where you can lease solar power systems.

SolarCity

SolarCity takes care of everything from design and permits to home inspections and solar panel installation. They are a one stop shop for your solar power needs and offer multiple financing options to make solar power accessible and affordable.

Service area

SolarCity has offerings in the following states: Click on the state where you reside to get more information.

Arizona, California, Colorado, Connecticut, Delaware, Washington, D.C., Hawaii, Maryland, Massachusetts, Nevada, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Texas, and Washington