Leasing can be a great option for solar panels, but what happens at the end of your lease? That's what one homeowner is contemplating as their 12-year lease comes to an end. The Redditor sought advice in the r/solar subreddit on what they should do.
They bought the house with the existing lease, and now the company is giving them the option to purchase the system for a little over $4,000. The OP doesn't think it's worth buying an outdated system for that much.
They said, "I've seen a bunch of posts of people who say to lowball them."
The scoop
Typically, as your lease comes to an end, you are given three options. One just like this homeowner, you are given the option to buy the solar panels outright. Companies will also give homeowners the option of renewing the lease and having the panels removed.
Fortunately, some homeowners have also found a loophole where they don't have to pick any of these options. The labor costs of removing the panels aren't cheap, so it's cheaper for the company to just leave the panels on the house. Homeowners are able to either keep the panels for free or buy them at a low cost.
When you're getting started, TCD's Solar Explorer page is a great place to begin to understand your options. You can also save up to $10,000 when installing solar panels.
As energy prices rise, you can also protect yourself from feeling that on your bill when you pair your panels with a battery system.
How it's helping
One of the best reasons to go solar is the money you'll save on your energy bills. You can save up to $3,000 a year, depending on the size of your panels and the cost of solar in your area.Smart upgrades that slash monthly energy bills
Get $1,000 cash to slash your bills with rooftop solar panels for $0 down and low monthly payments Whatever your solar budget, Palmetto can help you save. If you want to buy your own panels, Palmetto's advisors can help you save up to $10,000 on installation through a network of preferred installers. And if you'd rather get solar savings without upfront costs, Palmetto's revolutionary LightReach subscription program can deliver — including an exclusive $1,000 cashback offer for TCD readers. LightReach lets you lease solar panels with no money down, making it painless to lock in long-term savings of up to 33% off your current power bill. Palmetto covers a 25-year warranty for the panels, which means you'll get reliable performance without unforeseen costs. To get started, just book a short meeting with Palmetto's experts to explore your options and find the solution that's right for you. |
• EnergySage can help you save up to $10,000 on installations by curating competitive bids from local installers
• Not ready to spend up front? Palmetto's $0-down LightReach solar leasing program can lower your utility rate by up to 20%
• TCD's Solar Explorer makes it easy to access exclusive offers from preferred partners
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What's the most you'd pay per month to put solar panels on your roof if there was no down payment?
Click your choice to see results and speak your mind. |
$200 or more 💰 To maximize your savings, you can pair your solar panels with an efficient HVAC. TCD's HVAC Explorer page is an excellent tool for learning about your options and seeing how you can save 50% on your energy bills.
Lastly, the Palmetto Home app helps you earn $5,000 in rewards that you can put toward home upgrades.
What everyone's saying
Redditors were happy to chime in with suggestions for the homeowner.
One user said, "Tesla cannot resell those old used panels, and it costs money to send a crew out to remove the stuff."
Another commented, "Tell them they are welcome to leave them behind and you won't require them to remove and dispose of them at their cost."
Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
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