More customers are opting for loans over leases.
The way people are getting solar panels installed in their homes is going through a rapid change.
The Wall Street Journal reported that companies such as SolarCity SCTY -2.96% are taking a hit as customers are turning from leasing their solar panels to purchasing them in one lump sum.
SolarCity, along with similar solar companies, supplied 56% of home solar panels last year. This year, they may do just 50% in 2016, the newspaper reported, citing figures from GTM Research.
The Journal reported that solar panel leases, which were 72% of sales in 2014, are now expected to drop to only 48% by 2017 as more consumers buy them instead.