September 21, 2018
A whole array of benefits come along with your solar panel package, but these benefits are only accessible if you own your system.
Some people lease their solar panels because they believe it’s the only financially feasible option, but it’s doing more harm than good.
Turning Liabilities into Assets
Owning your system can give you the following advantages:
Financial Benefit
Whether you pay off your system upfront or over time in installations, it will end up being more beneficial than leasing.
Owning gives you all the clean energy produced by the panels which essentially replaces the electricity you would’ve bought from the grid. You are transforming your utility bill into free, clean electricity, and sometimes profiting by selling excess energy back to the grid.
If you’re leasing, you are paying the leasing company to receive this clean energy, meaning little to no financial benefit on your utility bill. Adding up all the numbers, you will end up paying the leasing company more than twice as much as the cost to purchase the system and finance it yourself.
Considered an Asset
Banks view a solar panel system as an asset and will allow larger loans to homeowners with solar panel systems as the collateral.
Raises Home Value
Research shows that owning a Solar Panel System on your home increases the property value of your home. It can potentially add 15,000 to 30,000 dollars to the sale price of a home. Homes with “green” features sell for more.
If you don’t want to sell your system as part of the home sale, there is the option to charge the buyer $2,500 for every 1,000 kWh the system produces.
If you’re leasing, the leasing company will put a lien on your home, obstructing you from selling your home as long as you are still leasing.
Attractive Environmental Contribution
People looking to rent are drawn to home with solar panel systems because of its contribution to the clean energy environment.
Tax Credit
Those who own their system receive a 30% federal tax rebate each year. Along with this rebate, different states offer different incentives and credits to system owners.
If you’re leasing, all these rewards and benefits are given to the leasing company and aren not available to you.
When we asked our customers for the most important piece of advice they could give to those interested in solar, they all came up with the same thing - Own the system.
Mr. Catalano, a YSG customer, says,
“I chose YSG because I wanted to own my system.”
Mr. Andreuzzi, a YSG customer, says,
“Own your system to save money.”
The best time to install solar and stop paying your utility bill was yesterday. The second best? Today. So get to it!
Contact us to learn more and go solar today!
Or call us at 516-855-7283