Does a solar company offer free solar panels?

When a solar company offers free solar panels or a no-cost solar program, they refer to solar leases and power purchase agreements (PPAs). With solar financing arrangements, a solar company will install a solar system on your roof at no up-front cost. But the truth is that you don’t yet own the solar system.

Do you own solar panels with a “no cost solar” agreement?

You will not own the solar panels with one of these “no cost solar” agreements. In other words, solar leases are essentially like renting solar panels. The solar company handles all of the installation and maintenance for a specified term, which is usually around 20 to 25 years.

Do you pay for solar panels?

Technically, you don’t pay for the solar panels in either arrangement – but that’s because you don’t own them. However, you do pay for the electricity they produce, which can add up to more than the cost of a solar system over time.

Can you go solar with no upfront cost?

You can go solar with no upfront cost by taking out a $0-down loan, signing a lease or PPA, or subscribing to a community solar farm. Of the no upfront cost solutions, $0-down loans provide the best long-term savings. If you can purchase your system outright, you'll see the highest return on investment overall.

How much do solar panels cost?

For example, using the chart above, the average cost of solar panels for 2,500 sq ft home is around $19,900. It’s worth noting that solar systems are sized and priced based on your electricity consumption — not square footage — so this method provides a quick-and-dirty estimate, at best.

Is it a good idea to get free solar panels?

Getting free solar panels through a solar lease or Power Purchase Agreement (PPA) can save you money on your electricity bill. The payments for the solar energy you use are typically lower than what you paid your utility company. With a solar lease, you’ll be given a flat fee to pay to the solar company each month.