More and more homes are popping up with solar panels on their roofs. It seems to be the new fad, but it is not exactly. Some people are only getting wise to use the sun for more than light, warmth, vitamin D, and a great tan. The sun supply free energy that solar panels can catch and redistribute it into electricity to power up their home.
Today’s home demands electronics, electrical equipment, appliances and power for electric cars. Those demands cause higher demand on the power grid of your region. In the United States, the government both federally and locally are trying to influence all homeowners to get solar panels installed on their homes by giving a tax credit to those that use the alternative energy of solar panels. The power companies do not see solar panels as the competition, but as assistance in that, they will, in turn, buy your excess energy produced by your solar panels.
It is a no-brainer to get solar panels when your home is all-electric and, or have an electric car such as the Tesla. It is equally advantageous if your house is hybrid in that it uses electricity and natural gas or propane for energy. There may be times when you do not use much electrical energy such as when you are away on vacation etc. The solar panel will still be generating electricity that would automatically be given to your electric power company in that they would give you credit for your surplus electricity instead of a bill.
In the United States, some companies provide solar panels with lease options, but it makes more sense to buy your solar panels system rather than to lease. With a lease, you will gain a certain percentage of savings. However, during the contract, they will want you to pay for a maintenance agreement when solar panels require little or no upkeep. At the end of the lease, you will have to give it back, and the leasing company would get the tax credit incentive instead of you. Also, the rental can be problematic at the time to sell your home.
The potential owner would need to qualify for the remainder of the rental and take over the payments. The prospective owner may want the tax credit by purchasing their solar panels. Your sales contract may get countered with the condition that you remove the rented solar panels before closing. Owned solar panels are more acceptable to a home buyer as part of your real estate enhanced value package.