top of page

SUNPOWER FINANCIAL™ LEASE

"SUNPOWER® and SUNPOWER FINANCIAL are trademarks or registered trademarks of SunPower Corporation in the U.S.. All Rights Reserved."

Buying Vs Leasing Solar Panels Comparison

There's a few, notable differences between buying and leasing solar panels that you may want to compare side by side. With that said, here's a breakdown:

 

Installation Costs:

 

Solar Lease:

  • Often $0 out of pocket which means you can save on electricity without investing any money.

  • No 30% tax credit because you don't own the system.

Solar Loan/Purchase:

  • Often $15,000 or more in upfront costs.

  • You qualify for the 30% tax credit because you own the system.

  • Often times you can get rebates that reduce the purchase price by up to 50%.

 

Maintenance Costs:

​

Solar Lease:

  • Maintenance is handled by the leasing company. If anything goes wrong, they cover the cost of repairs.

  • You get a free app to track your power usage.

Solar Loan/Purchase:

  • You're responsible for maintaining the system and any repairs that need to be made. However, its important to note that solar panels are extremely durable and don't have moving parts so repairs are rare.

  • May not include the power usage tracking app.

 

Contract Terms:

 

Solar Lease:

  • Leases are often 20-25 years long. If you sell your home, the new homeowner will need to take over payments.

Solar Loan/Purchase:

  • Loans can vary depending on your credit score and income. However, they typically last 10-20 years. You own the panels so it adds approximately $15,000-$20,000 to the value of your home.

 

Return on Investment:

 

Solar Lease:

  • Often you get into a lease with $0 invested and start to see savings of around 10-30% immediately. And the costs don't go up so your savings grow as the utility companies increase their rates each year.

Solar Loan/Purchase:

  • You'll save on electricity over the life of your solar panels. However, it will take several years before the savings have equaled the money you laid out to purchase the panels in the first place. Once its caught up, you get free electricity for the life of your panels.

2023 Lotus Electric - Powered and secured by Wix

303-888-5505

Interpretation and Definitions

Interpretation - The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

 

Definitions -For the purposes of this Disclaimer: Company (referred to as either "the Company", "We", "Us" or "Our" in this Disclaimer) refers to Lotus Electric LLC, 9020 Wadsworth Blvd. #421 Westminster, CO. 80021. Service refers to the Website. You means the individual accessing the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable. Website refers to Lotus Electric, accessible from www.lotuselectric.llc

​

Disclaimer Last updated: March 17, 2023

​

The Service may contain links to external websites that are not provided or maintained by or in any way affiliated with the Company. Please note that the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The information given by the Service is for general guidance on matters of interest only. Even if the Company takes every precaution to insure that the content of the Service is both current and accurate, errors can occur. Plus, given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained on the Service. The Company is not responsible for any errors or omissions, or for the results obtained from the use of this information. 

The Company may use copyrighted material which has not always been specifically authorized by the copyright owner. The Company is making such material available for criticism, comment, news reporting, teaching, scholarship, or research. The Company believes this constitutes a "fair use" of any such copyrighted material as provided for in section 107 of the United States Copyright law. If You wish to use copyrighted material from the Service for your own purposes that go beyond fair use, You must obtain permission from the copyright owner. The Service may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other author, agency, organization, employer or company, including the Company. Comments published by users are their sole responsibility and the users will take full responsibility, liability and blame for any libel or litigation that results from something written in or as a direct result of something written in a comment. The Company is not liable for any comment published by users and reserves the right to delete any comment for any reason whatsoever.

​

Contact Us

If you have any questions about this Disclaimer, You can contact Us:

·       By email: contact@lotuselectric.llc

bottom of page