For many homeowners, solar energy feels out of reach because of one major hurdle: cost. Buying and installing panels can mean spending tens of thousands of dollars, which isn't practical if you don't plan to stay in your home long-term. But one Illinois family found another way to go solar: by leasing panels instead of buying them. 

The scoop

Casey Finn from The DIY Playbook shared her family's recent switch to solar through a leasing program. Instead of paying upfront for equipment, they signed a 25-year lease with a mixed monthly fee. Installation was free, and maintenance was covered for the lifetime of the agreement.

When Casey's family signed up, the solar company asked for a year's worth of electricity bills to calculate their usage. It said that they would save $400-500 per year, even with the $60 per month cost of the solar lease. While purchasing panels typically results in greater savings, it would have meant paying around $30,000 upfront, something they didn't want to do. 

"We loved the idea of saving money, increasing our property value, and doing something good for the earth," she wrote.

If you're curious about trying this route yourself, check out Palmetto's LightReach program, which offers solar leasing with minimal upfront costs and even no-money-down plans. 

How it's helping

For Casey's family, the biggest win was financial predictability. Leasing gave them the opportunity to access clean energy without taking on the steep upfront cost of buying solar panels. Plus, instead of worrying about rising electricity prices, their monthly energy expenses are locked in for years to come. 

"A few years ago, my brother added solar panels to his home and highly recommended them to us," she explained. "His electric bills are basically nonexistent at this point, thanks to his solar power."

And, of course, there's the climate benefit: Rooftop solar is one of the most effective ways to cut planet-overheating pollution. Every kilowatt of clean energy generated at home reduces the need for electricity from dirty energy sources, which means less smog, less heat-trapping gases, and cleaner air for everyone. 

What everyone's saying

Readers chimed in with their own experiences, showing there's no one-size-fits-all solution. "We decided to buy the panels (and finance), but we certainly took a lot of time running the numbers to decide buying versus leasing," one commenter noted. "I don't think there is a wrong choice, just personal preference."

Others pointed out that ownership versus leasing can also matter when it comes to selling a home. A mortgage loan officer explained that leased or financed panels don't automatically add value to your home until they're owned outright, something to keep in mind if resale value is a priority. "Different loan programs have different rules for how much value can be assigned to the solar panel," they wrote. They added, "If you are financing the panels instead of leasing, it is important to realize that the person buying your house when you sell will be taking over those payments."

If leasing sounds like the right fit for you, you can explore Palmetto's local options. And if you're leaning toward purchasing instead, EnergySage offers free tools to compare quotes and estimate costs. If you're still deciding between buying and leasing, take a look at this breakdown of the pros and cons of both to help you weigh your options.

If you don't have solar panels on your home, which of these factors is the biggest barrier to installing them? Upfront costs 💰 Trouble with my HOA 🚩 Too much maintenance 🔧 An incompatible roof 🏠 Click your choice to see results and speak your mind.

Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.