Ownership means that your finance payments or your one-time cash payment goes towards owning your solar power plant. By investing into renewable energy, you'll receive a federal tax credit and a boost to your home equity. In most cases, solar ownership offers the most value.
In some markets, Leasing is available as an alternative to ownership. When you lease, you are renting the equipment for twenty-five years in most cases. When you rent the equipment, you have a rental payment that in most cases will increase annually at a rate less than your energy company would have. You have a predictable energy cost moving forward. When you lease you are unable to receive the Federal Investment Credit that would have been offered on ownership. People without taxable income might see more value in the Leasing option. In states like Arizona, leasing is offered and a PPA is not.
The Power Purchase Agreement (PPA) is nearly identical to the Lease in benefits and savings, but it's technically different. In most markets, you won't have to choose between the two because where one is available, the other typically isn't. With a PPA, you are entering into an agreement to purchase the power that the solar energy generates on your roof. Essentially, you're allowing a solar company (Sunrun, Sunnova, Lightreach, etc.) to install solar on your rooftop at no cost to you. Once installed, you'll purchase the energy that their solar equipment delivers at an agreed upon rate for twenty-five years. So, whereas with a Lease you are renting the equipment that generates energy, with a PPA you aren't renting the equipment, but you are paying for the energy that it generates. In states like Nevada, a PPA is offered and Leasing is not.
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