Tesla wasn’t able to install my solar system by December last year to qualify for 30% federal tax credit. So they’ve offered me 15% back for purchase/loan option or free 6 months for lease option.
After carefully considering those options, lease option’s the best deal with buyout after 5 years.
I’ll purchase the system after 5 years, not going to lease it for 25 years.
14.35kw + 2 Powerwalls + 2 expansions:
Total system cost is $56,669.09
With 30% tax credit, it’s about $40k
With 15% back for purchase/loan, it’s about $48k
With lease option + buyout after 5 years, it’s about $43k
So with lease option, I’d pay $3k more compared to the cost with 30% tax credit. But it’s like paying $3k in interest for 5-year loan which seems like a very good deal.
P/S: buying the system after 5-year lease is cheaper than a loan with 4% interest rate.
I’m in Texas, so I’m planning on signing up for free night electricity plan. Then I can charge the batteries overnight 100% free and use them during the day if needed.
I had new roof installed last year. So if you want to install solar system, I’d recommend replacing the roof first if the roof is old.