Buying or leasing solar panels?

Buying or leasing solar panels?

Buying or leasing solar panels?

The demand for photovoltaic installations has grown significantly over the last few years in Spain, with installed capacity increasing by almost 30% in 2021. This increase is due to the new regulatory framework established that encourages the use of renewable and clean energies whose role will be fundamental towards the energy transition. Solar energy is one of the best known and most accessible alternatives today. Moreover, its potential is inescapable due to the large number of hours of sunshine per year that we receive in the Spanish territory. But we can not only enjoy self-consumption through the purchase of solar panels, but there are other alternatives that do not involve investing large amounts of money.

This modality is called solar panel rental (or as we call it in SolarMente, solar subscription). The possibility of enjoying self-consumption without initial investment. Therefore, today we are going to clear all the doubts related to this modality and the existing differences with the purchase of solar panels. We will talk in depth about topics such as:

·What is it and how does the rental of solar panels work?

·What are the advantages of renting a photovoltaic system?

·How the purchase of solar panels works

·Comparison between renting or buying solar modules

Solar panel leasing: what is it and how does it work?

This is a type of leasing that allows you to enjoy self-consumption without making an initial investment and making low fixed monthly payments. In the same way as paying for an Amazon subscription or renting a house.

It is designed to encourage photovoltaic self-consumption and facilitate the energy transition for those households that have less capital and cannot afford a high initial investment.

Even if you do not own the solar panels, you have beneficial services for your installation that the purchase of the system cannot offer you, such as maintenance of your solar panels, updating of equipment if necessary and replacement of parts due to technical failure.

It is a good alternative to enjoy clean and inexhaustible solar energy, without suffering a significant outlay.

Once the rental contract ends, SolarMente offers you the possibility to buy the system for only one euro and become part of your property.

Advantages of opting for the rental of solar panels

 The rental of solar panels has numerous advantages that you can benefit from:

·No initial investment is required. You do not need a high initial amount of money to switch to self-consumption and you will enjoy your installation for 20 years without the slightest concern.

·You will obtain a monthly economic saving in your electric bill. The monthly rental fee should be less than the monetary savings that the installation generates in your bills.

·The installation company is in charge of maintenance. You do not have to worry if any incident occurs, the company will be responsible for maintaining the system in perfect condition to maximize solar production.

·You are eligible for IBI and ICIO subsidies. Even if you are renting solar panels, you can obtain 50% IBI and 95% ICIO subsidies.

You can sell surplus energy to the electricity grid. If the system is connected to the grid, you can sell the excess energy generated and obtain a greater economic saving in the electricity bill.

>> Just enter here, calculate your savings and start enjoying the energy produced by your panels with 0 initial investment.

Purchase of solar panels: main characteristics

On the other hand, we have the alternative of buying solar panels. A service provision is established between the company and the consumer for a determined price.

The main benefit of this option lies in the ownership of the installation. Once you buy it, it is yours. However, you need to make a larger investment than in the rental of solar panels.

In this same case, the company will install the solar panels in your home, but the maintenance will not be included in the price. This maintenance will have to come from your pocket when necessary.

Peace of mind. Maintaining the solar panels does not require great efforts. You can check it in this article where we tell you all the information.

In addition, you have grants and subsidies for solar panels. And we are not only referring to IBI and ICIO bonuses, but you will be able to access tax incentives provided by the State.

You will also have access to other specific aids provided by the autonomous community where you live.

You must take into account that the purchase of solar panels requires shorter payment terms. Specifically, we are talking about a financing by the banks of 10-12 years, on the other hand, the lease is financed with a period of up to 20 years, paying reduced installments more accessible month by month.

Buying or renting solar panels: which is the best option?

Among all the options analyzed, the million-dollar question arises: is it better to lease or buy solar panels There is no one alternative that is better than the other; it depends on the circumstances of each owner.

The budget. The first thing is to know the availability of money. Check if you can afford a purchase investment and have the money in the short term. If you do not have enough budget, renting solar panels is a good alternative with no initial cost and you will enjoy solar energy, saving a high percentage in the electric bill.

What you should keep in mind is that the purchase implies a return on investment in a shorter period of time. In addition, the system becomes your property from the very first moment. If you are interested in having full control of the installation, this is a good option

For example, in cities such as Madrid or Barcelona, there is a return on investment in 5 and a half years without any type of bonus. If we opt for the available subsidies, it could be 4 years.

However, if you prefer not to commit yourself to a financing with the bank and not to make an important investment as well as to ensure a correct maintenance of the installation and not to worry about it, the rental of solar panels is the best option.

In the following table, you have summarized the main characteristics of each modality:

Seek advice from SolarMente

Choosing between buying or leasing solar panels is not a decision that can be taken lightly.

You must consider all the points mentioned during this article, where the budget available in the short term will play a very important role in choosing one option or the other.

Do you still have any unresolved questions? If you are still not sure whether to lease or buy the photovoltaic installation, contact Solarmente to evaluate which are the best options for you.