Ask the leasing company for the buyout price in writing, and check whether it changes with the month you buy.
How it works
- Payments left: every remaining monthly payment, raised each year by the lease's escalator.
- Saved by buying out: payments left minus the buyout price. A negative number means keeping the lease costs less.
- Months the buyout equals: buyout price ÷ current payment, a quick way to see the offer in lease months.
Before you decide
- After a buyout you own the system: repairs, inverter replacement and insurance become your cost.
- Selling your home: an owned system is usually simpler to sell than a lease that the buyer must take over.
- The value of your money: paying a buyout now means that cash can not earn interest elsewhere.
To see what the panels will save once you own them, use the solar break-even calculator.