Solar Panel Leasing Options for Homeowners in Ireland

Joe Brennan
Apr 28, 2023

Thinking about going solar in Ireland but worried about the price? Solar panel leasing might be the option you are looking for. With energy costs on the rise and the push for a cleaner planet getting stronger, leasing solar panels is a smart move.

Discover how easy it can be to light up your home with solar energy, without the financial burden of ownership. Stay with us as we unveil the ins and outs of solar leasing for homeowners like you, ready to make a bright change.

What is Solar Leasing?

Solar leasing is a financial arrangement where a homeowner rents their solar panel system from a provider, like Going Solar, instead of purchasing it outright. It's much like renting a home—you get all the benefits of living there without the responsibility of a mortgage.

In the same way, you get all the energy the solar panels make for your home without worrying about fixing them if something goes wrong—the company that owns them will take care of that. It's a handy way to get into solar power without having to spend a lot of money upfront.

Benefits of Solar Panel Leasing

Leasing solar panels offers homeowners in Ireland lower upfront costs, reduced maintenance and repair expenses, a positive environmental impact, and the opportunity for energy independence.

Lower upfront costs

Solar panel leasing offers homeowners in Ireland the opportunity to enjoy the benefits of solar energy without the high upfront costs. When you lease solar panels, you don't have to worry about purchasing and installing them yourself, which can be expensive.

Instead, you pay a monthly fee to the leasing company for the use of their panels. This means that you can start generating clean and renewable energy for your home without breaking the bank.

Reduced maintenance and repair costs

Maintaining and repairing solar panels can be costly, but with solar panel leasing, homeowners in Ireland can enjoy reduced maintenance and repair costs. When you lease solar panels, the leasing company is responsible for any repairs or maintenance needed during the lease term.

This means that if something goes wrong with your panels, you won't have to spend extra money fixing it yourself. Additionally, the leasing company may include regular maintenance as part of their service package, ensuring that your panels are always in good working condition without you having to worry about scheduling or paying for maintenance services separately.

By choosing to lease instead of purchasing outright, you can save money on these expenses while still reaping the benefits of solar energy.

Environmental impact

Solar panel leasing has a positive environmental impact. By choosing to lease solar panels, homeowners in Ireland can contribute to reducing greenhouse gas emissions and combating climate change.

Solar energy is a clean, renewable source of power that does not produce harmful pollutants or contribute to air pollution. Switching to solar power helps decrease reliance on fossil fuels, which are finite resources and major contributors to global warming.

By harnessing the sun's energy through solar panels, homeowners can reduce their carbon footprint and promote a more sustainable future for Ireland.

Energy independence

We all want to have control over our energy usage, right? With solar panel leasing options in Ireland, you can achieve just that. By generating your own electricity from the sun, you can become more independent of traditional power sources.

You won't have to rely solely on energy providers or worry about rising utility bills. Solar panels give you the freedom and peace of mind to power your home with clean and renewable energy.

Plus, you'll be doing your part in reducing greenhouse gas emissions and protecting the environment. So why not consider solar panel leasing as a step towards achieving energy independence for your home?

How Solar Leasing Works?

Solar leasing begins when you contact a solar panel company, and they assess your home to make sure it's a good fit for solar panels. This means checking if your roof gets enough sunlight and has the right space. If all looks good, the company installs the panels at no upfront cost to you, simplifying your switch to clean energy.

After the installation, you start paying a fixed monthly lease payment, which can often be less than your traditional electric bill. The solar company takes care of any maintenance or repairs, so there’s no extra work on your part. Plus, if you move house, the lease can usually be transferred to the new homeowner, making solar leasing a flexible option for your energy needs.

Solar Panel Leasing Options for Homeowners in Ireland

For homeowners in Ireland looking to join the solar revolution, there are several leasing options that make it simple and budget-friendly. Here's how it typically works:

Standard Lease

This is the most straightforward option. You pay a set monthly fee for the solar panels on your roof. It's predictable; the amount doesn't change, so you can budget the same amount each month, just like a regular subscription service.

Performance-Based Lease

With this option, how much you pay each month is linked to how much electricity the solar panels generate. If your panels are catching plenty of sunlight and working hard, your payment could be lower because you’re using more of the sun’s energy and less from the grid.

Flexible Term Lease

These leases let you choose how long you want to rent the solar panels, like 10, 15, or 20 years. Shorter lease terms can be good if you're not sure about your long-term plans, and longer leases can lock in your rental rate for more years, which might work better if you know you'll be staying longer.

Each option has its merits and is suited to different financial and energy needs. Going Solar can help pinpoint which is the perfect fit for your home.

Considerations Before Leasing Solar Panels

When you're ready to lease solar panels, it’s important to go through everything carefully before you sign. Here are the key things to consider:

Lease Duration

Solar leases can span a long time, usually between 20 to 25 years. It's important to consider your long-term plans. Will you stay in your current home for this duration? What if you need to move?

Usually, you'll have options to transfer the lease to the new homeowner or move the system to your new home, but this can involve extra costs or requirements.

Monthly Lease Payments

Examine the payment structure of the lease. It's common for solar leases to have fixed monthly payments, but some may include an escalator clause that increases payments by a set percentage each year.

While the initial payments might seem low, over time they can grow significantly. Project your payments over the lease term to ensure they remain affordable.

Maintenance and Repairs

Clarify who is responsible for the upkeep of the panels. Most solar companies will cover maintenance and repairs during the lease period, as they own the equipment.

This should include not only the panels but also the inverter, which typically needs to be replaced once during the lifespan of the solar system. Ensure there's a clear process for reporting issues and a reasonable timeline for repairs.

Projected Energy Savings

Calculate the expected energy savings. Review the estimated amount of energy the panels will produce and how this compares with your current electricity bills.

The solar company should provide a clear picture of the savings you can expect, but you should also consider potential changes in energy prices and your own energy consumption patterns over the lease term.

Detailed Terms and Conditions

The lease agreement will include many details that need careful review. Look out for terms regarding the possibility of removing the panels if your roof needs repair, the policy for dealing with solar panel underperformance, and any fees that might not be obvious at first glance.

Buyout Options

If you want the flexibility to purchase the system outright at some point, check the terms for a buyout in the agreement. Some agreements allow you to buy the panels at a predetermined price after a certain period or at a fair market value. This can be beneficial if you decide that owning the system is right for you in the future.

By thinking about these factors, you can make sure that solar leasing is right for you and that you're getting a good deal that will help you save money and enjoy clean energy for years to come.

Let's Sum Up

So, are you thinking about getting solar panels without buying them outright? Leasing could be a great choice. It's easier on your wallet and good for the earth too. So, if you're not quite ready to fully commit, leasing gives you a chance to try out solar power.

Keen to give it a go? Chat with us at Going Solar. We'll help you get started with solar leasing so you can enjoy greener energy at home. Drop us a line today, and let’s get your home powered by the sun!

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Frequently Asked Questions

Can I lease solar panels in Ireland?

Yes, homeowners in Ireland can lease solar panels from various providers, offering an affordable way to switch to renewable energy without purchasing a system outright.

What are the benefits of leasing solar panels instead of buying them in Ireland?

Leasing solar panels in Ireland can provide benefits such as no upfront installation costs, maintenance and repairs covered by the provider, and potential savings on your electricity bill.

Can I buy the solar panels after leasing them for a few years in Ireland?

Many lease agreements offer a buyout option after a certain period, allowing you to purchase the panels at a predetermined price or the current market value.

Are there any eligibility requirements for leasing solar panels in Ireland?

The specific eligibility requirements may vary among leasing companies. Still, generally, homeowners need to have a suitable roof with adequate sunlight exposure, a good credit history, and be able to meet any necessary financial criteria set by the leasing company or financing partner.

What happens if I move houses during the solar panel lease term?

If you move, you can usually transfer the lease to the new homeowner or relocate the panels to your new property, although there may be costs associated with these options.

What should I do if the leased solar panels aren't producing enough electricity?

If your leased solar panels are underperforming, contact your leasing company. Most agreements include maintenance and performance guarantees, and the company is responsible for ensuring the panels work effectively.

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*FYI, parts of this blog post were drafted by artificial technlogy. But rest assured, it's been thoroughly researched, edited, reviewed and me & my team.
Author Fahad Zahid
Founder @ Going Solar

Joe Brennan, the founder of Going Solar, is dedicated to making solar power mainstream in Ireland and meet SEAI objectives. With a focus on affordability and sustainability, he is bringing renewable energy solutions to homes, reducing costs & environmental impact.