No Cost Solar Panels Scam

These offers entice people with a no cost way to go solar.

No cost solar panels scam.

This article explains the economics behind leases and ppas to show how the offer of free solar panels ultimately costs the end user money in the long run. Systems include maintenance monitoring and a. It s true that solar panel production will decrease over time just like any other energy producing asset. These are almost always misleading campaigns by ppa and lease companies to generate leads.

Cash buying your solar electric system outright is best. In the ppa s case the exchange for no cost solar panels is that you do have to agree to purchase power generated by those panels from your solar company at a reduced rate anywhere from a 10 30 reduction. The solar power industry is in a price war at the moment. But unfortunately not everyone plays by the rules which means there are certain tricks and solar panel rip offs that you need to watch out for when looking to install solar power.

Plus as we point out above a combination of federal and state. An important warning about the solar industry in 2020. Residential solar panel finance options include purchase solar loan solar power purchase agreement ppa and solar lease for as little as 0 down. If you are one of the skeptics out there who thinks this sounds like a scam this article may help you to understand what customers are actually getting when they sign up for no cost solar panels and installation.

Back when solar panels cost more and there weren t state and federal incentives available to make rooftop solar systems more affordable solar leasing was often a homeowner s only feasible option. However no cost and free are a little misleading because there is always an exchange for goods and services rendered. It usually costs 15 000 to 20 000 after tax credits and can reduce your electricity bill by 70 to 100 percent depending on the size and. But when you examine the contracts they heavily favor the solar installer over the 25 year life of the system.

Solar panels lose production capacity year after year but your payments will go on way longer no matter what. Borderline scams as they are not free you just don t pay for panels but you also don t own them. You have probably seen advertisements that say free solar panels or pay 0 for solar panels and installation. But now the price of solar panels is less than half of what it was 10 years ago.