One Connecticut homebuyer was skeptical when they saw that the majority of homes for sale in their market and price range included at least solar panels. They posted in the r/solar subreddit for help.
"I came on this subreddit to get some advice regarding buying a house with solar," the original poster said. "My big take away was don't take on someone else's lease. … Our realtor gave us a list of everything available under $350k in our preferred towns. There were 4 … Two of them have solar around year 3 of their contracts. A new house just came online today. They're 2 years in, no money down!!! … I love the idea of solar, but none of these situations seem like a good idea, and it's further limiting our already limited chances of finding an appropriate home."
In general, installing solar panels is one of the best options to save money on your utility bills. It can help insulate you against the surge in energy costs across the country, while also ensuring that you have power through disasters and outages when paired with the correct battery storage setup.
Leasing is one of several options for supplying your home with solar power, and it can be a good option in the right circumstances. To help you understand your choices and save money, check out TCD's Solar Explorer.
However, the original poster is right that leasing isn't for everyone, and the terms of the lease matter. Homeowners should do their own research to determine whether a particular deal is right for them or if buying makes more sense — but leasing can still be a good option, as one commenter pointed out.
"OP, are you aware that in Connecticut having a solar lease is often like 10-15 cents less per kwh than eversource/UI?" the user said. "I'm seeing solar leases that take 20+ years of escalation to reach the CURRENT price of electricity in this area. … If the math makes sense I would personally feel comfortable taking over a solar lease in a heartbeat if i was in the housing market. Just because an owned system can be cheaper doesn't mean the lease is a bad deal."
TCD's Solar Explorer can help you discover and connect with trusted, vetted partners who will help you get solar for your home. They can make the process simpler and help you save up to $10,000 on installation with their concierge-level service.
Some partners will help you secure $0-down subscription options for solar services, such as Palmetto's LightReach solar leasing program, which can cut your utility rate by up to 20% (protecting you from energy inflation) and help you take advantage of federal tax credits that have been retired for direct purchasers. Others, such as EnergySage, will help you buy solar panels by curating bids from local installers and helping you sort through information about incentives available to you.
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. |
To save as much as possible on your electric bill, you can go beyond just installing solar panels and add other electric appliances, such as energy-efficient heat pumps and HVAC equipment. TCD's HVAC Explorer makes it simple to find the right setup for your home and budget.
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What's the biggest concern you'd have about getting solar panels? Click your choice to see results and speak your mind. |
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