As the world shifts toward cleaner energy sources, solar power has become an increasingly popular choice for homeowners and businesses alike. However, the upfront costs of purchasing and installing solar panels can be daunting. This is where solar panel leasing becomes an attractive alternative. By leasing solar panels, individuals and companies can enjoy the benefits of solar energy without the large initial investment. But where exactly can you lease solar panels, and what should you consider before doing so?
In this article, we'll explore where to lease solar panels, recommend reputable providers, discuss the leasing process, and break down the advantages and disadvantages of leasing vs. buying.
What Is Solar Panel Leasing?
Solar panel leasing is a financing arrangement in which a third-party company installs and owns the solar panel system on your property. As the lessee, you agree to pay a fixed monthly fee or a fee based on the amount of energy generated, while the leasing company handles installation, maintenance, and monitoring.
There are two main types of solar leases:
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Solar Lease (Fixed Monthly Payment): You pay a flat fee each month regardless of the electricity produced.
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Power Purchase Agreement (PPA): You pay based on the actual electricity the system generates, usually at a rate lower than your utility company’s.
Where Can You Lease Solar Panels?
1. National Solar Leasing Companies
Several large companies offer solar leases across multiple U.S. states and internationally:
Sunrun
Vivint Solar (Now part of Sunrun)
Tesla Energy
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Website: www.tesla.com/solarpanels
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Coverage: Selected areas in the U.S.
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Highlights: Offers affordable leasing plans with no long-term contract commitment. Easy online signup process.
SunPower
2. Local and Regional Solar Installers
In addition to national brands, many regional solar companies offer lease options tailored to your location. Local providers often have:
To find a local solar leasing provider:
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Use marketplaces like EnergySage or SolarReviews
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Search with terms like “solar lease providers near me”
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Request quotes from multiple installers
3. Solar Marketplaces and Comparison Sites
These platforms help you compare solar panel leasing options side-by-side:
EnergySage
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Website: www.energysage.com
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Provides access to multiple solar providers.
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Offers a solar calculator and side-by-side comparisons.
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Great for understanding total cost, ROI, and lease terms.
Pick My Solar
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Matches you with pre-screened solar providers.
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Offers consulting services and helps you choose between leasing, buying, or financing.
SolarReviews
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Real user reviews of local and national providers.
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Includes info about warranties, lease contracts, and company ratings.
The Leasing Process: Step-by-Step
Leasing solar panels usually involves the following steps:
1. Initial Consultation
- Determine your energy needs, roof suitability, and location-specific solar potential.
2. Receive a Quote
- Providers will assess your home remotely or via in-person visit.
3. Review Lease Agreement
- Make sure to understand contract terms, including duration (usually 20–25 years), payment structure, maintenance responsibilities, and buyout options.
4. Installation
- Most companies install the system within a few weeks after signing.
5. Activation and Monitoring
- Once connected to the grid, the system starts generating electricity. Many leases include system monitoring.
Pros and Cons of Leasing Solar Panels
✅ Pros:
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Low or No Upfront Cost: Leasing often requires little to no money down.
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Maintenance Included: Most lease providers handle repairs and system upkeep.
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Predictable Payments: Fixed monthly payments or predictable PPAs help with budgeting.
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Immediate Savings: In many cases, the lease payment is lower than your current electric bill.
❌ Cons:
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You Don’t Own the System: This limits your ability to claim federal tax credits or increase your home’s resale value.
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Long-Term Contracts: Early termination or home resale might require contract transfer or buyout.
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Smaller Savings Over Time: Buying a system often leads to higher long-term savings.
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Potential for Escalating Costs: Some leases include annual payment increases.
Key Considerations Before Leasing
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Incentives and Rebates: If you lease, the company—not you—will benefit from incentives like the U.S. federal Investment Tax Credit (ITC).
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Property Resale: Make sure your lease is transferable if you plan to sell your home.
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Credit Check: Many leasing companies require a credit score of 650 or higher.
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Solar Suitability: Make sure your roof is in good condition and gets adequate sun exposure.
Conclusion: Is Leasing Right for You?
Leasing solar panels is a great option if:
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You want solar power without a large upfront investment
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You’re not interested in system ownership or maintenance
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You live in a state with high electricity rates and good sunlight
However, if you’re looking for maximum savings, and you’re able to pay upfront or qualify for a solar loan, buying might be a better choice.
To get started, we recommend visiting a comparison site like EnergySage to view options in your area, or directly contacting companies like Sunrun or Tesla Energy for a personalized quote.
FAQs
1. What is solar panel leasing and how does it work?
Solar panel leasing is a financing option where you pay a monthly fee to use a solar energy system installed on your property. A third-party company owns and maintains the system, while you benefit from the electricity it generates.
2. Is it better to lease or buy solar panels?
Leasing offers lower upfront costs and includes maintenance, making it ideal for those who want hassle-free solar power. However, buying typically results in greater long-term savings and allows you to take advantage of tax credits.
3. Can I sell my home if I lease solar panels?
Yes, but you’ll need to transfer the lease agreement to the new homeowner or buy out the lease. Most leasing companies offer flexible options for home resale.
4. Are there any upfront costs for leasing solar panels?
Many solar leasing programs offer zero-down options, meaning you can get started without any initial payment. Monthly payments typically begin after installation.
5. Which companies offer solar panel leasing?
Top solar leasing companies include Sunrun, Tesla Energy, and SunPower. You can also explore local providers through platforms like EnergySage or SolarReviews.
