Hype-Check: Are Solar Panels a Scam?
It’s a fair question, considering just how popular they have become. If you have done any research into using a solar panel system in your home, you may have heard a lot of things about them, even though you can get free solar panels. Here’s what you need to know.
Do Solar Power Systems Work?
The installation of a solar power system for your home or business will produce energy that you can use to power your home. You can set up a solar panel system that will provide more than enough electricity for your home. Solar energy is a real thing – it can help you to eliminate your electricity bill and help you save money. It is also good for the environment because solar panels produce solar energy, which is also green energy. That means you no longer have to be reliant on a utility company to help you power your home.
Are There Free Solar Panel Installation Options?
Here is where there is a lot of confusion about solar panels and even a few solar energy scams that may put a bad taste in your mouth. Solar systems are not free. You will pay for them in some way. There are some great ways to reduce costs, and you may have a few different ways to set up solar power without having to actually pay a lot upfront. And, yes, free solar radiation is available – you do not pay to access solar energy from the sun. However, you do have to pay to have solar panels installed somehow.
Do solar panel companies offer free solar panels?
This is often a misleading advertisement. You may be able to enter into a solar lease or a solar Power Purchase Agreement (PPA). In these types of agreements, you are not likely to have to pay a lot of money to have solar panels installed on your roof. You are not paying upfront to have solar panels installed. Rather, in these situations, the solar power company will install the solar panels for you, but you will not own them. Rather, you’re leasing them. In this situation, you will keep paying for the solar power that is produced from the panels.
It could save some money for you. For example, if you are installing a high-quality solar panel system through a leasing agreement, you may not want to pay $20,000 or more to have it installed. The company will install the solar panels without an upfront cost to you. Then, you will pay for the amount of solar energy produced by the system that you use.
If you use this method, though, there are a few drawbacks. For example, you will give up the federal tax credit that may be available to you to offset the cost of the solar panel installation. If there are any state-wide discounts or incentives available to you, you also will be giving that up because you are not outright purchasing the solar panels.
If you decide to use a power purchase agreement PPA like this, you’ll want to be sure you know as much as possible about the solar leasing company. Be sure you know what happens should the company go out of business – since they own the solar panels on your roof, you want to be sure you know what happens afterward.
What About a Solar Loan?
Another option that may help some people tap into solar electricity without paying a lot upfront is a solar loan. The solar industry has had several loan programs introduced to it, and these can work well for some people. Solar providers may offer the loan themselves, or you may be able to obtain it through a third-party lender.
In this situation, you still get all of the benefits – the tax credit, the lower power bills, and the amount of kilowatt-hour energy you need. You also own the solar panels. That means you can choose to install panels based on your information. You’re more in control over solar transactions.
Let Us Help You
As trusted solar installers, we will work with you to help you install the solar panel system right for your needs. Contact SmartSolar.org today to learn more.
Frequently Asked Questions
Do you have questions about the use of solar panels? Here are some questions we often hear.
Are buying solar panels a scam?
The solar power industry sure is complicated, but you can install solar panels on your home and benefit from having access to lower energy bills and green energy. Get to know the solar company you plan to work with carefully, including learning about them from the Better Business Bureau. You also want to read online reviews and do some research into the details, such as what your monthly payments may be, what the down payment may be, and what financing options are available. Most homeowners will find value in installing solar panels.
Is getting solar panels really worth it?
Yes, in most cases, it is worth it. While you may not get free solar panels, adding a solar system to your home will help you save money. Do your research to avoid solar panel scams and install high-quality solar systems for the best results.