At Alliance Solar, we’ve been in the solar panel business for a long time. We’ve enjoyed seeing the great things that solar can do for individuals and businesses. We are lucky to be part of industry that is saving people money while helping the environment and helping people to take control of their own energy needs.
While we firmly believe that the vast majority of solar companies are doing an excellent job of telling the truth about solar, we have seen some situations where people have been misled.
Over the next few days, we are going to talk about some of the misleading or inaccurate things that are being said by some solar companies.
At the end of the day, we want people to make an informed decision and while we firmly believe that solar is the right choice for most homeowners, we want to make sure that people are aware of all aspects of this decision.
First Shenanigan: FREE SOLAR
Is solar free? The short answer is absolutely not. In the event that you buy your solar equipment, it costs money to purchase. In the event that you lease your panels or pay for the power from them, you are still making a payment. Under no scenario is solar free.
That, however, is not the end of the story. Most people pay for electricity from a utility. The amount of money that is spent depends upon how much power is used. Now, here is where things get interesting: Due to market forces beyond anything that people had imagined, we have seen a rapid decline in the cost of solar panels in the last 5 years. For the first time in the history of the world, you can generate power at your own house for prices that are similar and sometimes below what you are paying to your utility. Many of those people that are saying that solar is free are really trying to tell you that in many cases you can buy a solar system and end up paying less for a loan payment on the equipment than you are currently paying to your utility. Your monthly budget can go down, while you are paying off an asset that will eventually be fully paid off. The cost of your loan payment will be fixed from the first day and once the asset is paid for, all of the solar that it will continue to produce will be free.
So, solar is not free, but under the proper conditions, we can frequently get solar panels installed on your house while not changing your monthly budget thereby locking in your effective power rate for the term of the loan and then having free electricity from that point forward.