Solar Home Financing Pros & Cons: Cash, Loan, & Lease

Solar System Financing Options

Solar energy is becoming an increasingly popular choice for homeowners and businesses looking to reduce their carbon footprint and save money on their energy bills. However, when it comes to going solar, there are several options for financing your system, including purchasing with cash, a loan, or a lease. In this blog, we will explore the pros and cons of each option to help you make an informed decision.

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Purchasing a Solar Power System with Cash?

Purchasing your solar power system with cash can be an expensive endeavor but will save you the most money in the long run.

According to the Appraisal Journal, home value increases by $20 for every $1 reduction in annual utility bills. So a solar energy system that saves $200 per year would also add $4,000 to the value of a home. (NREL Solar Fact Sheet) Not too shabby!

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      1. The system is yours: The solar panels, inverter, and other equipment are owned by the customer, making them qualified for solar tax credits and other benefits.
      2. Long-term savings: The consumer will save money on their electricity bills during the life of the system, resulting in long-term savings.
      3. Increase property value: Property value can be raised by installing a solar power system, which also makes the customer’s home more appealing to prospective purchasers and it is easier to sell.
      4. Control over maintenance: The customer has access to the equipment and can choose the technician, which can lower expenses and guarantee that the system is operating at peak efficiency. We recommend our Solar Repair Service!
      5. No Payment: Avoid making monthly loan installments and credit checks.


          1. Upfront Costs: The buyer is required to pay the whole cost of the equipment and installation in advance, which might be a sizable amount.
          2. Return on investment: A solar power system’s return on investment may take several years. A meaningful return for the consumer might not be realized until far later in the system’s life.
          3. Depreciation: With time, the equipment will lose value, necessitating a replacement if the consumer wants to keep using solar electricity.
          4. Costs of maintenance: The customer is in charge of doing so, which over time may be burdensome. For your piece of mind, ask Sandbox Solar about our Solar Repair Services!

          Financing a Solar Power System with a Loan?

          Financing your solar power system with a loan is the most popular and most used resource for hometowns when installing solar. Reason being, a home solar installation can increase the value of your home immensly! Find out how much value a residential solar system can add to your home at

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              1. The system is yours: The solar panels, inverter, and other equipment are owned by the customer, making them qualified for solar tax credits and other benefits.
              2. Reduce initial costs: By reducing the upfront price of buying a solar power system, a loan enables the consumer to spread the cost over time.
              3. Long-term savings: The consumer will save money on their electricity bills during the course of the system, resulting in long-term savings.
              4. Increase property value: Property value can be raised by installing a solar power system, which also makes the customer’s home more appealing to prospective purchasers and it is easier to sell.


                  1. Monthly payments: In addition to their electricity bills, the customer must pay a monthly loan payment, which might raise their overall monthly expenses.

                  2. Interest costs: Interest costs are frequently included in loans, which eventually raise the system’s overall cost.

                  3. Risk of default: If the borrower misses a payment on the loan, it could hurt their credit report. They might be penalized or face legal action.

                  4. Costs of maintenance: The customer is in charge of doing so, which over time may be burdensome. For your piece of mind, ask Sandbox Solar about our Solar Repair Services!

                  Financing a Solar Power System with a Lease?

                  Leasing a solar power system can be a challenging endeavor and should only be considered in very specific situations. take it from our friends at  “Just because there are no upfront costs with a solar lease, that doesn’t mean that it’s the best way to go solar.” 

                  Read more about the history of solar leases here! Solar leases: Everyting you need to know

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                      1. No up-front costs: Customers can go solar without having to pay for the installation and equipment in advance thanks to leasing.
                      2. Less expensive monthly payments: Compared to purchasing a solar system outright, monthly payments for leased systems are often less expensive.
                      3. Maintenance: Some consumers may find it advantageous because the leasing firm is in charge of keeping the system up to date.
                      4. Access to updated technology: When new technology is made available, leasing companies may upgrade their inventory, giving clients access to more modern and effective solutions.


                          1. No Ownership: Lack of ownership means that the client is not eligible for tax credits or any other long-term savings that come with ownership.
                          2. Monthly payments: Although though leasing payments are less than buying a system outright, they can still be substantial. Particularly in the long run.
                          3. Contract specifics: Consumers are frequently bound by lengthy agreements, and early termination costs may apply.
                          4. Limited control: The customer might only have a little amount of influence on the equipment and its upkeep, and they might also be responsible for additional upgrades.
                          5. Bog Down Real estate Transaction Process: These contracts bog down the real estate acquisition process and make it difficult to transfer lease agreements to a buyer.

                          Want to learn more about Solar Payment options? Contact Us

                          Ask your realtor before going with a lease.

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