Buying Solar Vs Renting Electricity

Buying Solar Vs Renting Electricity

Let’s talk about the difference between buying solar vs renting electricity from FPL, or other electric or energy companies.

One of the reason you bought you home was to build equity and have something you owned. When renting you are paying someone else monthly and they are building equity. When you finance a purchase, your payments are building equity for you!

The same concept applies to Solar Panels; you can rent electricity every month, or you can own your solar power plant and build your equity. We have sources where your payments can be the same as you pay FPL, and some times even less than you pay for electricity now. The difference is that you are the owner, it’s your solar system, its your property that increased in value, and you are building your equity instead or someone else.

Renting Electricity

Subconsciously it’s difficult to make change, for some harder that others. Most of us are caught in the trap of renting and can’t wrap ourselves about making the commitment to purchase. Making a purchase of solar energy today is not that easy for some, and a no brainer for others.

When you ‘rent’ electricity from FPL you are just using their services, paying their every increasing energy rates. Next month it’s start over again with you owning nothing, having built no equity.

You are just renting, you are a consumer of their goods and service. Every month you have an electrical bill, one which over the years has increased by approximately as much as 5% historically.

Buying Solar

By purchasing solar panels for you home (or business) you are using that amount of money you spend on that monthly electrical bill and applying towards the purchase of your own energy generating plant on the roof of your property.

Every month instead of paying FPL for energy, you are paying yourself back for the purchase of a Solar array system. Instead of renting, you build equity. You are using that amount which you used to ‘rent’ electricity and applying towards a purchase of something you now own.

Your monthly budget is not increasing, at the end of the month your budget and expenses are the same. The difference is that you own a solar system that increased your property value. The amount that you used to pay for energy is not creating equity instead of going to someone else.

Currently the laws don’t allow you to fully go ‘off-grid’ but that’s perfectly fine. You can use them as your bank. With Net Metering, you are basically using PFL as your bank to deposit energy and withdraw energy as needed.

Net Metering allows you to send to the grid the extra energy your solar panel system creates during the daytime hours, when the sun is at peaks, and get it back during off-peak times. You get this energy back on a one-for-one basis.

Hopefully you understand the concept or buying solar vs renting electricity, but if you have any questions, please leave a comment below or ask a question on our questions and answers section.

Leave a Reply