Renting or buying solar panels?
Photovoltaic self-consumption continues to grow year after year. In fact, in 2022, 19.1% of the electricity generated in Spain came from photovoltaic energy.
And with it have come new ways to benefit from a solar installation.
Now you can not only buy your system (in cash or financed) but there are other possibilities that allow you to enjoy solar energy with a lower investment, such as renting solar panels.
For this reason, in this post we are going to explain the differences between renting or buying solar panels.
In addition, we will tell you in which cases it is better to opt for one alternative or the other.
Let’s get to it.
Renting solar panels: what is it and how does it work?
This type of leasing allows you to benefit from self-consumption without making an initial investment.
You will only make low fixed monthly payments, in the same way as if you were paying rent for a house or a monthly subscription to watch films and series.
It is a modality that facilitates the energy transition for households that have less capital and cannot afford a high initial investment.
Although 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 the maintenance of your solar panels, the updating of the equipment if necessary and the replacement of parts in the event of technical failure.
However, at this article you can find out how our solar subscription model works and all the benefits you can get.
Once the rental contract ends, at SolarMente we offer you the possibility to buy the system for just one euro and that’s it.
The installation is now your property.
Advantages of opting for the rental of photovoltaic solar panels
The rental of solar panels has many 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 saving on your electricity bill. The monthly rental fee should be less than the monetary savings that the installation generates on your bills.
- The installation company is in charge of maintenance. You don’t have to worry if any incident occurs, the company will be responsible for keeping the system in perfect condition to maximise 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.
- Get financial compensation for your surpluses. If the system is connected to the grid, you can sell the excess energy generated and obtain greater financial savings on your electricity bill.
>> Calculate your savings by renting solar panels for your home.
Solar energy for your home without paying for installation or maintenance.
Buying 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 case, the company will install the solar panels on your home, but maintenance is not included in the price. This maintenance will have to come out of your pocket when necessary.
Peace of mind. Maintaining the solar panels does not require great effort.
In addition, you have grants and subsidies for solar panels. And we are not only referring to IBI and ICIO rebates, but you will also be able to access tax incentives provided by the State.
In any case, you will also have access to other specific aid provided by the autonomous community where you live.
You should bear in mind that the purchase of solar panels requires shorter payment terms. Specifically, we are talking about financing by banks for between 10 and 12 years, while renting is financed for a period of up to 20 years, paying reduced and more accessible instalments month by month.
Leasing or buying solar panels: which is better for me?
Among all the options analysed, the million-dollar question arises:
Is it better to rent or buy solar panels?
There is no one alternative that is better than the other; it will depend on the circumstances of each homeowner.
First of all, it is important to know the availability of money, i.e. the budget.
Check whether you can afford a purchase investment and have the money in the short term. If this is not your case, renting an installation is a good alternative with no initial cost and you will enjoy solar energy, saving a high percentage on your electricity bill.What you should bear 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 more interesting 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 to financing with the bank and not to make a significant investment, as well as ensuring proper maintenance of the installation and not worrying about it completely, the rental of solar panels will be the best solution.
| Solar panel rental | Purchase of solar panels | |
| Owner of the installation | No | Yes |
| Initial investment cost | No | Yes |
| Method of payment | Reduced monthly fee | Financing |
| Maintenance | Yes | No |
| Grants and subsidies | Yes | Yes |
Are you sure which one to choose?
Choosing between leasing or buying solar panels is not a decision to be taken lightly.
You should consider all the points mentioned during this article, where the budget available in the short term will play an important role in choosing an option.
Whether you decide to switch to self-consumption with us:
- Renting your solar panels (solar subscription)
- Buying your photovoltaic system
We will look after you at all times and accompany you at every stage of the installation process.
Just click on one of these links to find out more about your case.
See you inside!
