With solar demand being higher than ever, hundreds of solar companies have started across the nation. This has led to greater competition in the solar industry. In order to stand out, some companies have started offering “Free Solar” or “Free Power” to their customers. It sounds too good to be true, so let’s figure out what this really means.
Is “Free Solar” really free?
Hearing the word “free” can pique your interest and curiosity in something you might not have otherwise had an interest in. When it comes to solar, unfortunately, solar panels are never free. Billions of dollars have been spent to develop the technology to where it is today, and the manufacturing costs mean solar cannot be completely free.
There are hard costs in materials and labor that cost solar companies thousands of dollars for each solar installation project. If you happen to see promotions from solar companies offering free solar, you should do your best to understand what they really mean because the answer will likely have a financial impact on you.
What does “Free Solar” mean?
No additional out of pocket expenses
Most companies justify using this term because getting solar often leads to an overall reduction in monthly expenses. Most solar companies offer financing which avoids the upfront costs of going solar and spreads the payments out over 20-25 years. These monthly payments are typically smaller than your power bill meaning your monthly energy expenses will be lower than before.
No payments for 12 months
Other companies promote that your solar system will be free for the first 6-12 months. However, this is also not quite as it seems because those payments are just being pushed back and accruing interest that will be paid back later.
Another common tactic you will see with companies trying to convince homeowners that solar can be free is by offering a Power Purchasing Agreement (PPA) or leasing option. In either scenario, homeowners get a solar system installed on their home with no upfront costs. The big downside in this scenario is the homeowner never actually owns the panels or the power they generate.
Can you get Free Electricity?
We’ve learned that free solar doesn’t exist, but what about free electricity? The truth is that free electricity is possible after you purchase and have paid off your solar panels. Homeowners who skip the PPA and leasing agreements will get access to maximum savings and government incentives.
Once your solar panels are paid for, the only ongoing expense you can expect is a small fee to keep your home connected to the grid. Besides this fee, there are typically no additional costs associated with having solar panels. Each month, your solar panels will generate hundreds of dollars worth of electricity for your home for free.
Considerations for Getting Solar Panels Installed on Your House
Although solar panels are more popular than ever, they are not for everyone. Consider these factors when deciding whether solar is right for your home.
- Do you need to repair or replace your roof?
- Is your roof shaded during parts of the day?
- Do you live in a climate with moderate sunlight?
- Do you have adequate credit to qualify for a solar loan?
- Do you spend at least $80 a month on electricity?
- How long do you plan to live in your current home?
How is Cubix Power different?
At Cubix Power, we provide payment options that benefit our customers. We search for the lowest interest rates available and only work with financial institutions that have reasonable and fair terms.
We offer a very low-pressure and transparent sales process. Our team will always be honest with you about what you’re getting and what impact you can expect from your new solar system. We also work with materials and manufacturers that align with these values. We don’t sell the cheapest or most efficient panels. Instead, we find the best balance between the two. These panels result in a better ROI for you in the short and long term.
While working with us, you can expect to sit back and relax as our team of experienced professionals takes care of every aspect of your new system. If you’re ready to get started or just want a better idea of how much solar panels will cost you, reach out to our team, or find out if you qualify today.