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  • 05.31.16

Solar array leases drop as more people opt to buy

Falling prices mean more people are interested in buying solar panels for their home instead of leasing them, reports the Wall Street Journal. For years leasing an array was the most popular option as their average price exceeded $17,000. Yet over the 20-year terms of the lease, array owners would pay more than $30,000 for their system. Now thanks to smaller startups offering loans for solar panels, enabling homeowners to pay less than the cost of a lease over the long run, the share of solar arrays leased will drop from 2014’s 72% high to just 48% in 2017.MG