Solar Lease Vs Solar Loan

Solar Lease vs. Solar Loan: Which Is the Better Choice for Florida Homeowners?

Solar Energy
August 20, 2025•3 min read

Solar Lease vs. Solar Loan: Which Is the Better Choice for Florida Homeowners?

solar vs loan

If you’ve been researching solar, you’ve probably come across two main ways to pay for it: solar leases and solar loans. Both can get panels on your roof with little to no money down, but they work very differently—and one option may save you a lot more in the long run.

Let’s break down the differences so you can decide which makes the most sense for your family.

What Is a Solar Lease?

A solar lease works a lot like renting your panels. A solar company installs the system on your roof, and instead of owning it, you agree to pay them a fixed monthly fee (or a fee tied to the amount of energy you use).

✅ Pros of a Solar Lease:

  • Low or zero upfront cost

  • Maintenance is usually included

  • Immediate savings on your electric bill

❌ Cons of a Solar Lease:

  • You don’t own the system

  • No federal tax credit or incentives for you (the leasing company gets them)

  • Harder to sell your home since buyers have to take over the lease

  • Savings are usually smaller compared to owning

In other words, leases can make sense if you want quick savings with no responsibility, but they often limit your long-term benefits.

What Is a Solar Loan?

A solar loan is financing that allows you to purchase the system and own it outright once the loan is paid off. Companies like GoodLeap specialize in providing flexible solar loans that let homeowners go solar with little to no upfront cost.

✅ Pros of a Solar Loan:

  • You own the system, so you get the full 30% federal tax credit (until the end of 2025)

  • Increases your home value

  • Bigger long-term savings

  • Flexible loan terms (GoodLeap, for example, offers low-interest options with manageable monthly payments)

❌ Cons of a Solar Loan:

  • You’re responsible for maintenance (although many installers include warranties)

  • Requires credit approval

  • Monthly payment can be higher at first compared to a lease

But the big difference? Owning solar is like owning a home—your investment pays you back.

Lease vs. Loan: Which Should You Choose?

  • If you want the biggest long-term financial benefit → Go with a Solar Loan.

  • If you want quick savings with no responsibility (and don’t mind missing out on tax credits) → A Solar Lease may fit.

  • If you plan on selling your home in the near future → Owning solar is far more attractive to buyers than a lease.

Final Thoughts

In Florida, most homeowners find that solar loans through trusted providers like GoodLeap make the most financial sense. You get the tax credits, the added home value, and the ability to pay off your system—eventually enjoying free, clean energy for decades.

Leases can work in some situations, but if your goal is long-term savings and energy independence, owning is the way to go.

👉 At Solar Joshua, we’ll walk you through both options, compare numbers side by side, and help you choose what’s best for your family.

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