Sunlight is free.Solar panelscost money.
And who can blame them?
Theaverage cost of a solar installationhovers around $24,000 in the US.
Can solar panels save you money?
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But like most things in life, when it sounds too good to be true, it usually is.
“Less credible companies still say that,” according toKrystal Persaud, founder ofGrouphug Solarand co-founder ofWildgrid.
But they’re often just trying to lure you in or sell your contact information to solar installers.
What do companies mean by free solar panels?
“Typically, the people who are saying ‘free solar’ are on the end of lead generation.
This is possible throughsolar leasesandpower purchase agreements.
You, the homeowner, won’t own the solar system.
Solar leasesare similar toPPAsin that the homeowner won’t own the system.
Think of it like leasing a vehicle.
What’s the catch?
Are ‘free’ solar panels a good idea?
But you may be thinking there must be a catch.
One advantage of owning, rather than leasing, your solar panels is that they tend toboost home values.
“It’s a way to go solar without paying more.”
Are free solar panels a scam?
The short answer is no.
So here’show to avoid any scamsthat might come your way.
“Always, always, always get two to three different quotes,“Persaud said.
Don’t trust a single company making a big, flashy promise.
Don’t let a salesperson rush your decision.
“Whatever they’re saying, it’s not urgent.
Solar is not going away.
The federal credit is not ending anytime soon,” Persaud said.
“There’s literally not a rush to do it.”
“They’re going to venture to charge as much as possible,” Persaud said.
Again, this is why it’s important to compare quotes.
And don’t be afraid to negotiate.
How much do solar panels cost in my state?
These prices don’t factor in tax credits or state incentives.
Certain states don’t have any FindEnergy solar data and are grayed out on the map.
Cash:You’ve got the funds to pay upfront for the purchase and installation of a solar system?
It’s best to avoid them unless you’re sure you’ll be able to pay off the debt.
Failure to do so can result in your home being foreclosed on.
It also allows you to take advantage ofnet-meteringand anytax incentivesyour state might offer.
Other loans:Some people opt for personal loans or other types of credit to finance their solar systems.
Most importantly: Get quotes from multiple companies.
“That’s valuable.
Engage with folks and understand what’s out there and what exists.”
There are also less obvious, more complex ways to save on the upfront costs of solar panels.
Typically these are nearby solar farms, and the energy they generate can reduce your energy bills.
These programs can provide lower prices than buying solar on your own, like buying in bulk.
Efficiency upgrades:Before reaching for the solar panels, look at the rest of your house.
Once you’ve done those efficiency retrofits or upgrades, maybe solar is a good idea.”
FAQ: Frequently asked questions
Will solar panels save money over time?
“It definitely depends on the situation.
Here’show to calculate your solar payback period.
Can I get free solar panels in my state?
It’s possible, but there are requirements.
Certain states are more solar-friendly than others, offering more incentives to help with solar costs.
Some of these incentives include free solar panel programs.
To be eligible for free solar panels, you’ll likely have to meet an income requirement.
Low-income households are more likely to be eligible for free solar panels.
However, most of these “free solar panel” incentives come with a lease or PPA agreement.
What is a solar lease?
Entering a solar lease means you pay for the use of company-owned solar equipment on your home.
This is usually a fixed monthly rate.
What is a PPA?
PPA rates are typically lower than the retail electric rate offered by your local power company.
