If you’re considering solar, one of the first decisions you’ll face is whether to buy your system or lease it. While leasing may seem like an easy, no-upfront-cost option, owning your solar system delivers greater financial benefits, flexibility, and long-term value.
At Renew Solar Services, we strongly recommend owning your system through a solar loan—and here’s exactly why.
1. Financial Benefits: Ownership Pays Off
✔️ Tax Credits & Incentives – When you own your system, you can claim New York’s 25% state solar tax credit (up to $5,000) and other state incentives directly. (The 30% federal homeowner credit ended for systems purchased after 2025.)
✔️ Increased Home Value – Owned systems add value to your home, while leased systems may actually complicate the home-selling process.
✔️ Long-Term Savings – Solar loans offer fixed monthly payments and are fully paid off after the term ends. Leases often come with escalating payments and no end to monthly costs.
✔️ Transferable Loans – Most solar loans can be transferred to the new homeowner at no cost, while leases come with UCC liens and complicated buyouts.
💡 Bottom line: When you own, you save more and keep the benefits.
2. Control & Independence: Own Your Power
When you own your system, you’re in full control—no middlemen, no restrictions. But with a lease or PPA:
❌ You’re locked into a 20–25 year contract
❌ You have no say over repairs, upgrades, or service schedules
❌ You’re dependent on the leasing company’s responsiveness and policies
We’ve seen countless customers come to us after getting stuck with non-working leased systems and no accountability from their providers while still being billed every month.
💡 With ownership, you choose your service partner and control your energy future.
3. Hidden Costs of Leasing & PPAs
While leases and PPAs are marketed as “no maintenance,” the reality is often different:
❌ Slow or nonexistent service – Repairs can take months, while you continue paying your lease and your utility bill.
❌ Annual price escalations – PPA contracts often include 3–5% yearly increases, meaning your power costs go up every year.
❌ UCC Liens on Your Home – Lease and PPA companies place a lien on your home that must be paid off before you can sell. These buyout amounts are often shockingly high.
4. Solar Loans: The Best of Both Worlds
With a solar loan from a trusted bank or credit union, you get:
✔️ No upfront cost options
✔️ 10-, 15-, and 25-year terms to fit your budget
✔️ Tax credit eligibility
✔️ Full system ownership
✔️ No UCC lien or transfer issues when selling your home
✔️ Financing options for solar repairs and maintenance
💡 At Renew Solar Services, we help homeowners secure the right loan and avoid the headaches of leasing.
Why Renew Solar Services Recommends Ownership
✔️ More savings
✔️ More control
✔️ More value
✔️ Fewer headaches
When you own your system, you’re not just installing solar—you’re investing in energy independence, long-term savings, and property value.
📞 Talk to our team to learn more about owning your system the smart way.
