Residential Solar Panels: The Case For Outright Ownership
solarindustrymag.com/...panels-the-case-for-outright-ownership
Now that the stage has been set for the residential solar market, the dilemma for consumers is to choose between leasing solar panels from an installer or owning them outright.
However, one disadvantage that consumers are beginning to realize is that leasing the panels, as opposed to owning them outright, results in the forfeiture of the federal tax credit, which would then belong to the distributor. The ITC set the federal tax credit at 30% of the entire solar project for the consumer’s residence, so this is quite a substantial figure.
Owning the panels outright provides an interesting alternative. ..... purchasing the panels delivers greater savings to consumers in the long run, as there are no payments to a distributor and all of the energy that the consumer produces is his or her own.
In the current market, distributors now have to be more transparent with consumers than in previous years. Average consumers are more knowledgeable about exactly what they are looking for and why they want to go the solar route. Also, loans for buying solar panels are easier to obtain and understand than they were earlier. Although it does mean more work initially, in order to grasp the fundamentals of the finances, the long-term savings can make this commitment more attractive nowadays.
Furthermore, the price for purchasing solar panels has fallen dramatically over the last few years. As the technology continues to improve, the panels have dropped in price and become much more practical for consumers.
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