Solar Leasing vs. Buying in Massachusetts

Considering solar energy for your home in Massachusetts? Discover the benefits and drawbacks of solar leasing versus buying, and learn how PosiGen makes solar power accessible to all with no minimum credit score or income requirements.

Understanding Solar Leasing and Buying Options

When considering solar energy for your home, you have two primary options: leasing or buying. Purchasing a solar system involves purchasing the solar panels and related equipment, typically through a significant upfront investment or financing. This option allows you to own the system and benefit from any available tax credits and incentives.

On the other hand, solar leasing means you don't own the solar system installed on your property. Instead, you pay a monthly fee to lease the panels from a solar company. This option often requires little to no upfront cost, making it an attractive choice for many homeowners.

Read our "How Leasing Solar from PosiGen Works" blog to learn more.

Benefits of Solar Leasing with No Credit Checks

One of the significant advantages of solar leasing, especially with PosiGen, is the absence of credit checks. Many solar companies require a good credit score to qualify for their leasing programs, which can be a barrier for some homeowners. PosiGen has no minimum credit score or income requirements, ensuring that more people can access the benefits of solar energy without worrying about their credit history.

This inclusive approach makes solar energy accessible to a wider audience, helping more families reduce their energy bills and carbon footprint without the financial strain of a credit check.*

Our "Think You Can’t Afford Solar? Think Again" blog is a great resource to explore.

*Savings vary depending on your energy consumption, system cost, home location and characteristics, and your utility’s policies.

Financial Implications: Leasing vs. Buying

The financial implications of leasing versus buying a solar system can vary significantly. Buying a solar system typically involves a higher initial investment but can lead to greater long-term savings. Owners can take advantage of federal and state tax credits, rebates, and increased home value.

Leasing, however, offers a more manageable financial commitment with lower upfront costs. While you won't benefit directly from tax incentives, the predictable monthly payments can make budgeting easier. Additionally, maintenance and repairs are usually covered by the leasing company, reducing unexpected expenses.

Environmental Impact and Energy Savings

Both leasing and buying solar panels contribute positively to the environment. You can reduce your reliance on fossil fuels, decrease greenhouse gas emissions, and promote cleaner air. Solar panels generate renewable energy, which can significantly lower your household's carbon footprint.

In terms of energy savings, both options can lead to substantial reductions in your electricity bills. Solar energy systems harness the power of the sun to generate electricity, which can offset your dependence on the grid, resulting in considerable savings over time.†

Read our “The ABCs of Solar: Leasing Solar Panels for a Lesson in Energy Savings” blog to learn more about solar leasing and energy savings.

†Utility rate structures vary. All customers will have a utility connection fee.

How PosiGen Makes Solar Leasing Accessible

PosiGen is committed to making solar energy accessible to everyone, regardless of their financial situation. By eliminating the need for credit checks, PosiGen opens the door for more homeowners to benefit from solar energy. This approach ensures that families who might not qualify for traditional financing or leasing programs can still enjoy the advantages of solar power.

With PosiGen, you can start saving on your energy bills from day one without worrying about credit score requirements. Our mission is to provide affordable, clean energy solutions to as many people as possible, making a positive impact on both individual households and the broader community.

Ready to go solar? Schedule a free solar consultation today.