Solar financing — so crucial to making the sale but so confusing to explain.
If you’re either a residential or commercial solar installer, then maybe you need a quick, easy way to highlight the differences between leasing and owning a solar system.
If so, then you’ve come to the right place.
Check out this handy infographic, “To Lease or to Own Your Own Solar Array”:
The infographic comes from the non-profit Institute for Local Self-Reliance, an advocate for renewable energy that’s distributed on rooftops across America rather than centralized at big utility solar farms. So, this infographic is part of their efforts to support the solar industry in offering solar directly to homes and businesses.
As any solar contractor knows, sometimes it’s better for a customer to lease solar panels from an installer. Other times, it’s better for a customer to purchase their own solar array.
But sometimes the advantages and disadvantages of each route can be hard for solar prospects to understand. This infographic is useful because it answers the main questions about each option in a clear and simple way.
Who Fronts the Money?
- Lease: Your solar lender
- Own: You (or your bank)
- Lease: Lender is responsible for maintenance
- Own: Solar manufacturer’s warranties are typically 10 years
- Lease: Saves money
- Own: Saves more money, increases home value
Solar Financing Demystified
The infographic also illustrates what risks a business or homeowner faces from either leasing or buying their own system.
And the image lists three important considerations:
- The role of tax credits and other incentives for buying or leasing
- Determining whether you can trust a solar manufacturer to stay in business for the entire term of their equipment warranty and whether you can trust a solar lender to be around for the term of a lease
- The importance of having a roof on your building that’s in good enough shape to host a solar array
If your company offers both lease and purchase options, then the infographic may help your salespeople better explain solar financing options. You can even send the infographic directly to a prospect.
Doing that could help you make the sale. People interested in getting solar are more likely to buy from companies they trust — and empowering a person to make the best decision on solar financing is a big way to build trust.
— Erik Curren, Curren Media Group