New York City homeowners are facing another annual electricity rate hike. With that, more and more New Yorkers are exploring solar—yet many still assume they need to buy an entire system outright. The truth is: you don’t have to purchase solar to benefit from it. A solar lease can be a simple, budget-friendly alternative that still helps you save on your Con Edison bill while supporting clean, reliable energy.

At Mpower Solar, we walk homeowners through all their options, including leasing, so you can choose the path that fits your home and your finances.

What Is a Solar Lease?

A solar lease is an agreement where a solar provider installs and maintains a solar energy system on your home, and you pay a predictable monthly fee to use the power it produces.

In other words:

• You don’t buy the panels
• You don’t pay upfront installation costs
• You don’t handle repairs or maintenance
• You still get solar power at a stable monthly rate
  

For many NYC homeowners—especially those who care more about immediate monthly savings than ownership—this model offers a legitimate, low-stress way to switch to solar. Check out our homeowner’s guide to solar terms to learn more lingo.  

Why a Solar Lease Makes Sense in NYC

New York has some unique characteristics that make leasing particularly appealing:

1. High Electricity Costs‍

NYC residents consistently rank among the highest electricity spenders nationwide. Even modest solar output can offset expensive utility charges from Con Edison.

2. Complex Roof Structures

Historic homes, flat roofs, shading, and fire department safety codes often make NYC installations more nuanced. Leasing allows homeowners to access solar without worrying about system performance complexities.

3. No Large Upfront Cost

Homeowners don’t need to budget for a full solar purchase. Leasing enables predictable monthly payments that are lower than Con Edison rates. With an Mpower Solar lease, homeowners can get started with solar for around the cost of a single up front monthly lease payment. 

4. Maintenance Included

NYC weather is unpredictable and, though uncommon, accidents can happen. With a lease, repairs are handled by the provider at no additional cost.

Is a Solar Lease a Scam? No—But It Has Pros and Cons.

In the solar industry, some misinformation makes people wary. Mpower Solar’s approach is simple: be fully transparent about both sides.

Benefits of a Solar Lease

• No upfront investment
• Credit score flexibility
• Predictable monthly payments
• Eligible for both NY and NYC solar tax incentives 
• Professional monitoring and maintenance
• Fast installation and approval timeline
• Potential savings from day one
• No maintenance responsibilities

Limitations to Consider

• You don’t own the system
• A lease must be addressed if you sell your home (transfer or buyout)
• Long-term savings may be lower than ownership when factoring in the total cost of the lease escalator over the term of the lease. (To combat this, Mpower Solar offers an escalator waiver for a fee.)
• Industry volatility: Some national solar companies have gone bankrupt in recent years, which can leave homeowners with “orphaned” systems and limited support. Mpower Solar is locally based and services all installations directly to avoid this issue, but it’s still an important industry-wide consideration.
  

A solar lease is legitimate—but it’s not for everyone. That’s exactly why we consult with NYC homeowners individually rather than pushing a single solution.

How an Mpower Solar Lease Differs

Mpower Solar is a family-owned, Brooklyn-based solar installer. Our lease offerings reflect the realities of local housing, permitting, and utility structures. Here’s what makes our approach different:

Clear Terms, No Surprises

We explain monthly payments, rate escalators (and how to waive them), and long-term expectations. Many national companies bury these details. We don’t.

NYC-Specific Engineering

Our team designs systems specifically for NYC building codes, DOB regulations, and Con Edison requirements. We are certified NYSERDA installers, we’ve been in the clean energy sector since 2009, and have installed thousands of solar panels across the five boroughs. We’re also well-versed in New York’s net-metering system and can offer NYC homeowners specific expertise when it comes to solar installation in the city. 

Local Maintenance and Support

Your system is monitored and serviced by local technicians—not a national call center. While leasing your panels, you’ll also have full access to the Enphase app which is a real-time solar monitoring platform that lets homeowners track their system’s energy production, usage, and performance. 

Lease or Buy—Your Choice

Unlike some companies, Mpower Solar offers leases, loans, and cash purchases. We recommend what works best for your roof, your long term goals, and your budget.

Who Should Consider a Solar Lease?

A lease may be ideal if you:

• Prefer no large upfront cost
• Want predictable long-term payments
• Don’t want responsibility for maintenance
• Want a quick, low-risk path to lower electric bills

It may not be ideal if you want maximum long-term ROI or have the funds to invest in the full solar system up front. 

How to Decide if a Solar Lease Fits Your NYC Home

Here’s the process Mpower Solar follows:

1. Evaluate Your Roof + Energy Usage

We analyze sunlight, shading, building age, and Con Edison billing history. Whatever payment option you choose, roof and electrical repairs are included.

2. Compare Lease vs. Purchase

We show both options transparently—including total lifetime costs and savings. Decide which option is best for your financial situation. 

3. Design Your NYC-Ready System

Our engineers size your system to maximize offset while ensuring DOB compliance.

4. Review the Lease Agreement in Plain English

We highlight:

• Monthly cost
• Term length
• Estimated savings
• Escalation clause (and how to waive it)
• Dollar for Dollar Match Program (see more below)
• Warranties
• Transfer options

Note: The Dollar for Dollar Match Program

For homeowners who want more flexibility with their lease, Mpower Solar offers an optional Dollar for Dollar Match Program. This program allows you to make a one-time payment equal to 50% of your remaining lease balance, and when you do, Mpower Solar covers the other 50%. Available to homeowners within the first five years of your lease, this program gives you a way to shorten your long-term commitment while securing additional savings. We walk you through this option during the proposal stage so you fully understand how it works.

5. Install + Maintain the System

You enjoy lower energy bills while we handle the rest.

NYC Solar Lease FAQs

Can a solar lease increase my home value?

Third-party studies suggest homes with solar tend to sell faster—but leased systems require additional paperwork during the sale and can be a deterrent to some buyers. Solutions for homeowners can include a lease transfer, a lease term buyout, or panel removal. 

Do I still get net metering?

Yes. Leased systems qualify for Con Edison’s net metering program if the home meets eligibility requirements.

What happens if I move?

You can transfer the lease to the buyer (common) or buy out the system.

Final Thoughts: Is a Solar Lease Right for You?

A solar lease is not the perfect solution for everyone, but for many NYC homeowners, it’s the easiest, fastest, and most affordable way to go solar—especially with minimal upfront cost and no maintenance obligations.

If you’re considering solar in New York City, Mpower Solar can help you compare all your options and choose a solution that makes sense for your home and budget.