Despite the major benefits of rooftop solar panels, there remains some online confusion about whether buying a home with the technology already installed is a worthwhile investment. One person turned to Reddit for advice about a house of interest that had a solar panel lease attached to it.

The scoop

The California-based prospective buyer explained that they lived in an area with some of the most expensive electricity rates in the country. The user broke down that the home they were interested in had a solar lease with a $100-per-month payment. 

The contract had 20 years remaining with a 2.9% escalator and included 14 panels. According to the buyer's calculations, even in the 20th year of the contract, the rate for the solar lease would still be cheaper than their utility company's electricity prices. 

However, despite the quick math, the buyer still had questions. "I'm very new with solar but am interested in the home," the original poster wrote. "How much do I push the seller to buy out?" 

How it's helping

Investing in solar panels is one of the best ways to reduce your energy bills while taking control of your own power. However, it is vital to understand the difference between buying panels outright versus leasing a solar panel system to ensure you're getting the best deal for your situation. 

For accurate information on solar panel deals in your area, consider connecting with TCD partner EnergySage. It has free tools that can help you save up to $10,000 on installation costs. 

When it comes to savings, homeowners who buy solar panels outright tend to see the biggest return on their investment, but leasing solar panels is not without its own benefits. 

When leasing, homeowners avoid the steep upfront installation costs and opt for a monthly rate instead. 

In turn, the panels themselves are owned by the third-party leasing company, but the power generated by the system goes directly toward the homeowner's energy needs and can help reduce expensive utility costs. 

What everyone's saying

Although there was some debate in the comments about the best path forward, most users agreed that the solar panel system should not dissuade this buyer from the home. 

"If you really want the house, take the lease," one user noted. 

Which of these savings plans for rooftop solar panels would be most appealing for you? Save $1,000 this year 💸 Save less this year but $20k in 10 years 💰 Save less in 10 years but $80k in 20 years 🤑 Couldn't pay me to go solar 😒 Click your choice to see results and earn rewards to spend on home upgrades.

"Normally, I'm quick to attack the idea of taking on a lease … [but] it doesn't seem that bad in this case," another said. 

Smart upgrades that slash monthly bills

This post stressed a few key considerations about buying a home with solar. But whether you're entering the housing market or looking for panels for your home, upgrading to clean energy doesn't have to be complicated. 

EnergySage can help you save up to $10,000 on installations by curating competitive bids from local installers. If you're not ready to spend up front, Palmetto's $0-down LightReach solar leasing program can lower your utility rate by up to 20%. 

To save even more on your monthly bills, consider pairing solar panels with highly efficient electric appliances like a heat pump HVAC. TCD partner EnergySage can help you upgrade the way you heat and cool your home with a new HVAC that fits your home and budget. 

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