A lot of thought and planning goes into purchasing a solar panel system for your home or business. However, one of the most common questions we hear is, “Should I buy or lease my system?”

Although it doesn’t seem like choosing one over the other would make a difference, only one option allows you to save more money in the long run.

Here’s why you’d want to buy a solar system in New York instead of leasing one, straight from the SunPower installer experts at DMV Equity Inc.

1. You’ll own your solar panel system

Here’s the thing: You’ll be making payments on your solar system anyway, so you might as well put all of those payments towards the ownership of your system instead.

If you lease your system, you’ll spend a significant portion of your monthly income on your system… and have nothing to show for it at the end of the day.

Buying your system allows you to truly invest in technology that will improve the quality of your life for years to come.

2. You save more money over time

Because you own your system, you’ll also be able to save hundreds or thousands of dollars on your energy bill every year. This is something that’s more difficult to do when you lease your solar panel system.

Why? As an owner, after several months you’ll be able to completely pay off your solar system purchase. Once you do, you’ll begin to reap the benefits of your free solar energy.

On the other hand, if you were to lease your system instead, you would continue to make payments on your system indefinitely. This would then eat into the money you’d save on your electric bill every month.

Buying your solar panel system is a financially savvy move compared to leasing.

3. You can also take advantage of federal and state solar tax credits

On top of that, your federal and state governments offer tax credits to help you offset your investment in solar energy. If you were to lease your system, you would not be able to take advantage of this free money. Instead, you would continue to pay the same amount year after year — with none of the benefits that ownership would provide.

Book your free consultation call with DMV Equity Inc. today

When you’re looking for a reliable team of SunPower installers in New York state, turn to the professionals at DMV Equity Inc.

How do you know we’re great at what we do? We only use SunPower equipment in our work, and we’ll stop at nothing to ensure that the quality of your solar panel system matches up as well.

In addition to offering rooftop and ground mount solar systems, we also conduct solar panel system installations for commercial and residential spaces.

Schedule your free consultation call today to see how we can help you reduce your carbon footprint and save you money on your energy bill. If you have any pressing questions or concerns about our services, contact us using the form on our website.