Own or Lease?

Why doesn't Mile Hi offer solar leases?
Mile HI Solar works with you to design a custom system that we believe will best meet your needs. We are able to offer battery backup power and other options that may not be available with leases. Because our customers purchase their systems, we are able to work with all utility companies in Colorado.

When you purchase a system, you own your system. When you purchase a system, you pay for years of energy use up front, or over time through a loan. Financially, customers like to reach grid parity (the point  where a system has generated an amount of power to "pay for itself"). After that, you still get to use the power that your system generates. You get energy independence, and over time, relief from your power bill.
What are the advantages of Owning?
If you own your own Solar (PV) system, there are several advantages. First, we can design the best system for your house, without being bound by leaseholder terms. If you stay in your house long term, you won't have to think about what to do when the lease ends...lose the Solar (PV) system or buy out the lease, or sign a new lease. If you sell your house, the PV system can increase the value of your house because you own it. And, if you purchase your system, you can take the tax credit on the purchase price.
What about financing?
Just because you want to own your system, not lease it, doesn't mean you have to come up with all of the money up front. There are many other financing methods besides leasing. A home equity loan is a popular low cost option that also makes the interest tax deductible. Some Front Range area banks have special loans for home energy efficiency and solar as well. Some of these may be easier qualify for with less than perfect credit (due to being secured loans) than a leased PV system.  We urge you to look into the cost of these options vs. a leased PV system.
 


   
Do you have more questions?
Great!  We have more answers!

Own or Lease?

System costs?

Rebates and incentives?

Why Mile Hi?

Is there a question we haven't addressed?  Drop us a line  and we will!