The debate whether to buy a solar panel system or to lease it in a "free solar" deal is an ongoing discussion. At PowerLutions Solar we offer both options so we're not biased. In truth, there is no right answer for everyone. A Free Solar Lease and buying the solar PV system have it's own pros and cons.
When you do a free solar lease it's a very simple and fast process. You pay nothing, we install a top of the line solar pv system on your home and you pay a very cheap rate on the electricity produced by the solar panels. You have to a have a minimum credit score and a good roof for solar, that's basically it. Solar energy is cheaper than utility energy.
When you buy a solar system you are buying the whole system, with the solar panels, solar inverter, solar racking and everything else that comes with a solar PV system. You pay the full price but you also get all the solar incentives that come with it. Currently you get a 30% tax credit, which means you can take 30% of the cost of the solar system directly off of your tax bill.
In New Jersey there are SRECs, which are Solar Renewable Energy Certificates. These certificates are able to be sold to energy producers and can fluctuate in price but can have a very significant value. In New York there are rebates and other tax incentives.
There are also different financing options so you can take a loan out to pay for the solar PV system. All the electricity that's produced by the solar system is free and all yours. When you own the solar system, it's all yours.
To discuss this further please feel free to contact us at 888-SUN-4-ENERGY or 732-987-3939 and we will happy to go over why solar with PowerLutions Solar is your best choice, whether you go for a free solar lease or a solar purchase in New Jersey and New York!