Is Solar really Free? Yes. Solar is one of the most prudent and wisest investments you can make for your home or commercial business. For the record, there is a right and a wrong way to get solar. According to www.costofsolar.com “With the right-sized installation, solar energy is an investment that potentially pays a 200%+ Return – far excess of most any other financial vehicle you can imagine.”
The reason why is because unlike most investments into your home, you can actually begin to enjoy that return from the day the system is turned on.
Three Reasons why solar is Free.
It pays for itself
- With an accurately sized and priced installation, your solar system will produce power that reduces your electrical expenses.
- If you offset enough of your costs, within 6-10 years the system will produce enough money worth of power that exceeds the net cost of the purchased system.
- After it pays for itself, it will then continue to produce 20+ years. Since most utility companies raise their average rates 3-6% per year that means that each year the savings from solar power will increase exponentially.
- Solar does not only become free on the day that it exceeds the production/cost barrier but you continue to get free power from the sun for decades.
- Even if you never sell your home, your installation fully pays for itself many times over.
No Money Down Financing
- Now you are able to simply run a credit check and qualify for a solar loan with a decent interest rate with no out of pocket cost or down payment.
- As a result of the longer loan terms available and fair solar pricing, the monthly payment for your solar loan will be less than you were paying the utility for the same amount of power.
- Since you were already committed to paying your power bill with no hope of returns, now you are not only paying less money every year but your not out any money that you weren’t already willing to spend on power in the first place.
- Now you are no longer throwing money away to the power company but instead turned that expense into instant equity and savings.
- Since solar didn’t cost you any EXTRA money, it is free.
- According to a study, published by the National Bureau of Economic Research, titled “Understanding the Solar Home Price Premium: Electricity Generation and ‘Green’ Social Status,” For the average installation (around 5kw) solar panels added a $20,194 premium to the sales price of the house based on repeat sales data.
- The net cost after incentives in for a 5 kW solar system through Alternative Energy is about $14,000. Meaning that the day you get your incentives, your system is worth more than you bought it for throughout the life of the system. (30-40years)
- This also makes the system not only free but an intrinsically valuable asset.
- The National Renewable Energy Laboratory offers a useful guide when determining how much your property’s value will go up. According to its research, each additional $1 in energy bill savings (from your solar installation) adds $20 to your home’s total value.
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What’s The Catch with Free Solar Panels?
If your not paying with cash, the catch with free solar panels is that you are required to get a home equity line of credit on your home (HELOC), get a personal loan from a bank or another lender, enter into a solar loan, or in the worst-case scenario, lease the system (and only lease if you don’t pay Federal Taxes). Free solar panels are a great way to get started with solar at no-cost.
According to EnergySage, “The term ‘free solar panels’ is sometimes used to advertise solar lease or solar power purchase agreements (PPAs)”.
You are required to make a small monthly loan or lease payment. However, you should know that solar leases are not worth it – solar loans are worth it. You will never own your solar panels like you will with a solar loan. Learn more about solar financing options below.
How to Get Solar Panels For Free
- Get a solar quote. Get a solar installation estimate from a local solar installer in your area.
- Explore Solar Financing Options. Sign your loan agreement.
- Find a Solar Installer. Get your solar panels installed for $0 down and low monthly payments.
How to get free solar panels from the government?
The Federal government and your local state government offer solar incentives and rebates for you to install solar. The federal government is currently offering a 30% rebate which means the government pays for a 1/3 of the cost of your solar installation.
Furthermore, if you live in Arizona, you can expect to get another $1,000 rebate from the State government to make your solar panels even more affordable. In either case, your installation is free. You just pay one small monthly solar loan payment. Learn more about the cost of solar panels in Arizona.
How to qualify for free solar panels?
You automatically qualify for free solar panels if you have a credit score of 650 or better. Almost all solar companies offer free solar panels if you meet solar panel loan qualifications.
How to put solar panels on your house for free?
There are 3 ways to put solar panels on your house for free.
- Hire a solar company to perform the free installation with a solar loan
- Buy your own solar panels and install them yourself (not recommended)
- Get the government to pay for some of the solar panels with rebates
*Disclaimer – You will notice a lot of sites online saying you can lease your solar panels. PLEASE READ THIS. Never Lease Solar Panels! Purchasing solar panels increase the value of your home. Leasing solar panels decreases the value of your home!
How to Get Free Solar Panels in Arizona
Alternative Energy is one of the top solar companies in Phoenix, AZ providing free solar panel installation, off-grid solar systems, residential solar panels, solar batteries for home & business, solar air conditioning, solar carports & canopies, commercial solar panels, solar EV charging stations, solar panel repair, solar panel removal and reinstall, and other very effective energy-saving products & services. Get a free solar panel quote today!
Our solar energy service area includes Maricopa County, Pinal County, Pima County, Yuma County, Yavapai County, Coconino County, Mohave County, Cochise County, Apache County, and all others.