Ohio has become a growing market for residential solar installations, with rising electricity costs and available incentives encouraging more homeowners to consider solar energy. Many are now hearing about solar leases as an option that requires little or no upfront investment.
A solar lease is an arrangement in which a third-party company installs and owns the panels on a homeowner’s roof. The homeowner pays a fixed monthly fee, or sometimes a rate based on the amount of energy produced—a structure known as a Power Purchase Agreement (PPA)—over a term of 20 to 25 years. The leasing company receives federal tax credits and other incentives, which may be reflected in lower payments for the customer.
However, experts urge caution before signing such agreements. Homeowners should understand both the benefits and drawbacks, particularly when working with national companies that might not have lasting ties to Ohio communities.
It is important for potential customers to ask detailed questions before entering into any agreement. While solar leases can help some Ohio residents go solar without upfront costs, they are not suitable for everyone. Experts recommend evaluating all aspects carefully and choosing providers committed to long-term service rather than those motivated solely by short-term incentives.
“Solar leases can make sense for some Ohio homeowners, especially those who want solar without upfront costs. But they’re not a one-size-fits-all solution. Before signing, weigh the pros and cons carefully, and make sure you’re working with a company that will be around for the long haul—not just until the incentives run out.”
