Solar Lease vs. Solar Loan vs. Cash Purchase: What’s the Best Way to Go Solar in Florida?
If you're considering going solar in Florida, congratulations—you’re on the path to energy independence, utility savings, and a cleaner future. But with so many financing options available, one big question remains: Should you lease your solar panels, finance them with a loan, or pay in cash?
At Solar Installers of Florida, we break down each option so you can make the best decision for your home and financial goals.
💰 Option 1: Buying Solar with Cash
How It Works:
You pay the full cost of the solar system upfront—no financing, no monthly payments.
Pros:
Maximum Savings: You own the system and keep 100% of the energy savings.
Highest Return on Investment (ROI): Over 25–30 years, you’ll see the best financial return.
Federal Tax Credit: You qualify for the full 30% federal solar investment tax credit (ITC).
No Monthly Payments: One and done—you won’t owe anything monthly for your solar system.
Cons:
High Upfront Cost: A typical residential system can cost $15,000–$30,000+.
Slower Payback if you move in a few years and don’t recoup enough savings.
Best For: Homeowners with available funds looking for the best long-term savings and control.
🏦 Option 2: Solar Loan
How It Works:
You finance the system with a solar loan and make fixed monthly payments, just like a car loan.
Pros:
Low Upfront Cost: Often $0 down options available.
Ownership Benefits: You own the system and qualify for the full 30% federal tax credit.
Predictable Payments: Fixed rates with terms typically between 10–25 years.
Equity Boost: Adds value to your home since the system is owned, not leased.
Cons:
Monthly Payments: You’ll have a solar loan bill each month.
Interest Costs: Total cost is slightly higher than cash due to interest.
Best For: Homeowners who want the benefits of ownership but prefer to pay over time.
📄 Option 3: Solar Lease (or PPA)
How It Works:
You don’t buy the system—you lease it from a provider or pay for the power it produces (PPA), usually with no upfront cost.
Pros:
No Upfront Cost: Start saving without any out-of-pocket expense.
Worry-Free Maintenance: The leasing company is responsible for repairs and performance.
Immediate Savings: Monthly payments are usually lower than your current electric bill.
Cons:
You Don’t Own the System: No tax credit, and no added home value.
Long-Term Contracts: Typically 20–25 years, with escalator clauses.
Lower Savings: You’re renting the benefits—your savings are shared with the leasing company.
Transfer Complications: Can make selling your home more complex.
Best For: Homeowners who want the lowest commitment and no upfront cost but are okay with fewer long-term benefits.
📊 Quick Comparison Table
Feature. Cash Purchase Solar Loan Solar Lease
Ownership ✅ Yes ✅ Yes ❌ No'
Upfront Cost 💰 High 💵 Low to None 🆓 $0
Federal Tax Credit (30%) ✅ Full benefit ✅ Full benefit ❌ Not applicable
Monthly Payment ❌ None ✅ Fixed monthly payment ✅ Lease/PPA payment
Home Value Boost ✅ Yes ✅ Yes ❌ No
Maintenance Responsibility ✅ Owner ✅ Owner ❌ Leasing company
Long-Term Savings 🏆 Highest 🥈 High 🥉 Moderate
🌞 Which Option Is Right for You?
Every homeowner’s situation is different. At Solar Installers of Florida, we offer custom consultations to help you understand your options, including how to maximize your tax incentives, savings, and system performance.
Whether you're looking to invest upfront, finance with ease, or go solar with no money down, we’re here to guide you every step of the way.
👉 Schedule your free solar consultation today and find the plan that fits your lifestyle and budget.
Solar Installers of Florida – Powering Sunshine State Homes, One Roof at a Time.
