SANTA BARBARA, USA: Solar3D Inc. commented on the growing trend among commercial and residential property owners to own, rather than lease, their solar systems.
Recently, influential experts and media alike have referenced the many reasons why owning a solar system is more advantageous than leasing. Earlier this year, a Fox Business article shared, "Homeowners who chose to own the solar panels not only get the best price but they can also benefit from city and state tax breaks depending on where they live."
A writer for the Institute For Local Self Reliance stated, "...in the years ahead, the expiration of federal tax incentives and simplified options for ownership (and its significant better long-term value) will mean a surge back toward solar ownership."
Among the benefits, SUNworks highlights the government support, citing 30 percent unlimited federal tax credits and state-provided cash rebates. Additionally, owning creates an exemption from future rate hikes due to the offset of utility bills, as well possessing the ability to write off the interests paid on a solar home loan, as opposed to lease payments which cannot be written off.
Lastly, owning a solar system appreciates the value of your home, and provides more flexibility and freedom regarding size and the actual solar installer. Many times, the system pays for itself within five to seven years, equating to a 25-35 percent internal rate of return.