Massachusetts Homeowners: Should You Rent or Buy Solar Panels?

By Chris Doherty

Christian Doherty lists and sells more homes than any other agent in the Greater Lowell, Massachusetts market with over 300 homes sold in the past 12 months. Chris is ranked in the top 1% of all agents in the United States.

Have you been thinking about getting solar panels for your Massachusetts home? If your answer is yes, then 2025 might be the year you need to make it happen.

For the past 20 years, homeowners who installed solar panels could get up to 30% back on their tax bill thanks to the federal solar tax credit. But with the recent tax bill changes, this incentive for homeowners is set to end at the close of 2025.

That’s a big deal if you’ve been on the fence, because it could mean missing out on major savings. If you’re all set to get solar panels for your home, let’s break down your options so you can figure out what’s right for you.

1. Renting solar panels. By renting, you’re essentially paying a solar company a monthly fee to use them. The company handles the installation, upkeep, and repairs, so it’s pretty hands-off for you. This can be appealing if you don’t have a lot of money upfront or want something quick and easy.

If you’ve decided to rent, there are still a few things you need to check first. Your roof should be in good shape and relatively new. Solar panels can last 25 to 30 years, so you don’t want to put them on a roof that’s 15 or 20 years old. You’ll also want to review the rental contract closely so you know exactly what you’re committing to.

If you think you might sell your home later, keep in mind that some buyers won’t want to take over a solar contract. A credit check may be required for the new owner, and while some companies offer a discount or payment to skip it, it can still be a hassle. Others might simply not like how the panels look or worry about roof damage.

If your priority is low upfront costs, locking in a lower energy rate, and having the company handle all the maintenance, renting can be a good choice as long as you’re ready to face these possible challenges when it’s time to sell.

2. Buying solar panels. You own the panels outright, either by paying in full or through a payment plan. You still work with a solar company for installation, but once it’s done, the system is yours.

When you buy, you get that 30% tax credit while it’s still available, and you’ll no longer have a monthly payment to a solar company once the panels are paid off. If you decide to sell your home before the panels are fully paid, you can settle the balance at closing.

Buyers tend to like owned panels because they don’t come with a contract to take over. They also get the benefits on their electric bill without the extra obligations. Owned panels can even add value to your home, which makes them an attractive option for both you and future buyers.

If you’re short on upfront funds, want an easy setup, and don’t mind the possibility of resale complications, renting might make sense. But if you’re looking for the best long-term financial return and want to keep things simple when you sell, buying is usually the smarter move.

And to remind you, the 30% tax credit ends at the close of 2025. Waiting too long could mean losing out on thousands of dollars in savings. So if you’ve been considering solar, now’s the time to move forward before the opportunity slips away.

If you have questions about buying or selling a property with solar panels, reach out. Call me at 978-746-0124 or send an email to chris@dohertyproperties.com. Let’s go through your options.