Are Free Solar Panels Really Free?
If a sales rep is offering you free solar panels, immediately disengage with the company and review our guide on how to choose a solar company. As the old adage goes “there ain’t no such thing as a free lunch” and the same concept should be followed with solar panels.
Free Solar Panels: Whats the Catch?
At Sunvago, we have heard reports that some solar companies will tell consumers they can get free solar panels from the government or that there are government incentives that are ending soon and they should act fast. Most of these companies that offer “free solar panels” are actually referring to a power purchase agreement, an arrangement in which a solar company installs and owns solar panels on a house in exchange for an agreement to purchase power for a 20 year period from the solar company. These are common and currently represent approximately 50% of the market.
Are “Free Solar Panels” a Good Idea?
A power purchase agreement or solar lease can be a good idea for some homeowners, although it is very dependent on a homeowners financial situation and preferences. A lease can be a good option for a homeowner that does not want to worry about any maintenance of the panels or can’t take advantage of the federal tax credit incentives. For more information, refer to our lease our buy guide.