Leasing a solar panel system in South Jersey will net you short term benefits but you will lose out on the long term beneficial aspect of owning a solar system. We at Seapoint Solar lease our systems out with a Sunnova Power Purchase Agreement (PPA), this agreement allows you to save 15%-30% on your electricity costs for years to come without the risks and complications of actually owning the solar system. the 15%-30% of savings roughly estimates to $40 saved a month which can be huge depending on what you were paying for your electricity bill and how large of a system you are leasing. Going with a PPA from Sunnova means you can possibly go solar with $0 down, you'll need to speak with a solar installer to confirm this.
After the Sunnova PPA lease is up you'll have several options on what to do next, the first being re-up your lease. Re-upping your lease will be the most cost efficient way to continue using solar power as you will continue to pay the lease price you've been paying. The second option is buying the solar system at a fair market price, this is cheaper than buying a new system as its already installed and you've already payed a portion of it. The third option is to just get rid of the system and go back to grid electricity, which could be cheaper short term but will end up hurting your wallet in the long run.
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