With the development of solar technology, the price of solar panels has been reduced, but owning solar panels may still be difficult. However, if you want to use solar panels to generate electricity, buying solar panels is not the only option, you can also rent solar panels and this way can effectively reduce your buying pressure. In this article, we will introduce you to the matters related to renting solar panels and buying solar panels in order to solve your problems.

1. Comparison between renting and buying solar panels?

Cost:

Renting solar panels can save a lot of purchase cost, and renting solar panels is not need to bear the cost of equipment maintenance, insurance, etc., even if the price of electricity rises, the monthly payment of your solar panel system is still stable. The cost of purchasing solar panels is more expensive. In addition to the cost of solar panels at the time of purchase, there is also the cost of maintenance at the time of operation.

Maintenance:

Rented solar panels cannot be damaged, if you do not maintain the solar panels in a timely manner caused by the loss, you are required to pay additional compensation to the merchant, affecting the normal use and economic benefits and generally rented solar panels are not warranty, when the solar panels have a problem, you have to bear the cost of repair. When you buy solar panels for repair, only your solar panels are still under warranty, you don’t need to pay the repair cost.

Installation:

Rented solar panels may not include installation, if you can’t install it yourself, you usually have to hire a professional to install it for you. If you buy solar panels, the general sales company will provide free installation of solar panels, if you want to install it yourself is also possible.

Quality:

Rented solar panels are probably not new solar panels, they may have been used once or more times, and inevitably there will be bumps or a drop in the photoelectric conversion rate, which means that the quality of the rented solar panels will be different. Purchased solar panels will be new solar panels, there may be differences in the quality of the solar panels due to brand or price, but the individual performance of the solar panels will still be better than the rented solar panels.

Enjoy incentives:

Some regions will issue incentives to encourage people to install solar panels in the future. Generally speaking, the ownership of rented solar panels remains with the renting company, so you will not be able to enjoy the government incentives. When you buy solar panels, you own them, so you can enjoy the government incentives directly, which can save you about 30% of the cost of solar panels.

Payment:

If you are renting solar panels, you can either pay them off in one lump sum or pay them off monthly, which reduces your stress when you don’t have enough to cover the cost of solar energy and it’s a good option. Purchasing solar panels is usually a one-time payment, which will reduce the hassle of making monthly payments and is more convenient.

Selling your home:

If you want to rent out your home after the solar panels have been installed, your rental solar panels are not transferable and you will have to pay for them if you don’t finish paying for them. For purchased solar panels, you have the right to use the panels and can sell them together with your house.

2. Which is better, renting solar panels or buying solar panels?

The biggest advantage of renting solar panels is that they are cheap, so for those who don’t have enough budget or want to try solar panels to generate electricity, renting solar panels is a good choice. Of course, if you like to travel for short periods of time, renting solar panels will be better for you.

When you are not using the solar panels, you can return them and reduce your costs. If you already want to use solar energy for a long period of time, buying solar panels will be better for you. The savings on your electricity bill will more than offset the upfront cost in the later years of your use.

Conclusion:

Both renting and buying solar panels have their own advantages. Buying solar panels allows you to own the panels and dispose of them when you don’t want to use them. On the other hand, renting solar panels can be a good option, especially for those who want to use solar power but can’t afford to buy solar panels. Whichever way you choose, it’s worth it.