Buy or lease solar? Let’s compare! | Palmetto
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COMPARE SOLAR OPTIONS
Source your power.Choose your payments.
There are lots of ways to go solar and save money with Palmetto. But which is right for you? Use the resources below to weigh the pros and cons of each based on your home, electricity, and solar savings goals. Not sure? Give us a call.
Speak with a Solar Advisor
How Palmetto customers invest in solar energy
Whether you want to own your panels outright, finance your panels over time, or leave the ownership to us and pay a low monthly fee for access to solar savings, we've got you covered!
Cash Purchase
Pay cash and own your system outright to maximize your electricity savings
Loan Purchase
Finance your solar energy system with low monthly payments and no money down¹
LightReach energy plan
Pay a low monthly fee for easy access to solar savings without the cost of investment
You own the panels. You own the power.
Customers who pay cash or finance their solar energy system have access to greater long-term savings and can leverage solar tax credits and incentives to offset the cost of their investment.
- Higher long-term savings
- Multiple financing options
- Eligible for tax credits and incentives
- Increases the value of your home
- Pre-vetted service network
We own the panels.
You own the power.
Customers who enter a LightReach energy plan can access the benefits of solar without any upfront investment or ongoing solar maintenance costs.
- Quicker solar savings
- No investment costs to recoup
- Maintenance and monitoring included
- Lock in low rates on energy
- Pre-vetted service network
What’s a LightReach energy plan?
LightReach lets you benefit from the electricity produced by panels on your roof, while Palmetto owns, installs, and maintains the solar panels for you.
Every LightReach energy plan is custom-designed, based on the specifics of your home, location, electricity needs, and rates. In this way, your average monthly LightReach payment is lower than your average monthly electricity savings, so you start saving money as soon as your system is activated.
Is it better to lease or buy solar panels for your home?
As a homeowner, the best solar investment is the one that's tailored to you—your home, energy needs, and financial goals. Let's compare the options!
| Options | LightReach | Loan Purchase | Cash Purchase |
|---|---|---|---|
| Lock in low electricity rates | Yes | Yes | Yes |
| Finance your solar investment | No | Yes | No |
| Purchase your solar system outright | No | No | Yes |
| Not eligible for credits and incentives | Yes | No | No |
| Prepayment optional | Yes | Yes | No |
| Invest with $0 down | Yes | No | No |
| Credit check required | No | Yes | No |
| Low fixed rate for solar power | Yes | Yes | Yes |
| Maintenance and service included | Yes | Yes | Yes |
| Detailed project and performance tracking | Yes | Yes | Yes |
| Real-time chat support | Yes | Yes | Yes |
Not sure yet? Browse more resources
Learn more about your solar cost and savings potential with our solar resources.
Get your free Guide to Solar
Everything you need to know about going solar, including key concepts, qualifications, and financing options.
Go solar with Palmetto
Looking to buy? Learn more about the costs and benefits of going solar with Palmetto.
About Palmetto
We're on a mission to democratize clean energy, starting with better savings and support.
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More Solar Resources
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Questions? Contact Us
Speak with a financial consultant
There are many options when it comes to financing your solar energy system. Whether you want to pay with cash, loan, PPA or lease, Palmetto can help you break down payment options so you can make an informed decision.