Buying and Leasing Solar Energy Systems in Nevada

Real Estate Chat

Solar energy is all the rage in Southern Nevada especially now that renewable and sustainable energy sources are encouraged by the state. Nevada offers rebates, tax exemption and net metering as incentives for residential solar energy and other renewable energy systems and with that, many homeowners are looking into installing solar energy systems in their homes.

In Southern Nevada, residents can either purchase their own system or lease units to generate solar energy for their homes.

American Patriot Solar resident Zeb Nagy said that “Ownership is always best, because when you own a solar energy system you control all of the different facets of what you actually own.”

“When you own it, you control the equipment, how large of a system you get, and most importantly the terms in which you pay for it,” he added.

“With a lease, you get benefits from generating solar energy, but don’t get to choose the equipment used or control the terms in which you pay the lease. Basically, whether you lease or own will depend on whether you have a federal tax liability and can take advantage of the tax credits for owning a solar energy system.”

“Any U.S. citizen that has an income has a federal tax liability,” he said. “So, if you purchase a system for $25,000, you are eligible for approximately 30 percent, or approximately $8,000 in tax credits and can take those credits over multiple years. That makes the system approximately $17,000. Conversely, leasing will cost you about $100 per month, but after the average lease term of 20 years you will have spent approximately $34,000 on the same system. The leasing company gets the advantage of the tax credit and is able to take a capital depreciation on the system as well.”

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