Author Topic: Free solar panels  (Read 383 times)

Catica

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Free solar panels
« on: August 16, 2020, 04:56:57 AM »
Hi,

I'm considering installing solar panels and I'm seeing offers for free panels and installation.  I don't know anything about it. Anyone got free panels and installation? What's the catch? 

Thanks

GuitarStv

  • Senior Mustachian
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  • Age: 39
  • Location: Toronto, Ontario, Canada
Re: Free solar panels
« Reply #1 on: August 16, 2020, 06:53:56 AM »
Are you talking about solar leases?  This is where a company leases your roof for 15-20 years, puts their own solar panels on it, and then pays you a fraction of the proceeds.

Pros:
- no up front costs on your part
- no maintenance on your part
- steady (small) income

Cons:
- may make selling the home more complicated
- you won't make as much money as you would if you owned the panels
- may be more complicated to re-roof (likely there will be some part of your contract that covers this)

Catica

  • Bristles
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Re: Free solar panels
« Reply #2 on: August 16, 2020, 07:31:47 AM »
Are you talking about solar leases?  This is where a company leases your roof for 15-20 years, puts their own solar panels on it, and then pays you a fraction of the proceeds.

Pros:
- no up front costs on your part
- no maintenance on your part
- steady (small) income

Cons:
- may make selling the home more complicated
- you won't make as much money as you would if you owned the panels
- may be more complicated to re-roof (likely there will be some part of your contract that covers this)
Thanks. I guess, yes that would be the lease option. Sounds interesting. 
I would be curious to hear from someone who did it.  I'm wondering what you can and can not do with your roof after you lease it.  Things that immediately pop up to my head are: what if I have a leak on a roof?  What if I have an infestation of pigeons (it's already starting to be a problem and I can only imagine when there are more spaces to hide in), what if raccoons move in under the panels. They already moved in to a space between a second and third floor of my house. Who would be responsible for fixing these problems.

Joel

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Re: Free solar panels
« Reply #3 on: August 16, 2020, 09:05:48 AM »
You can buy solar panels outright for close to nothing down and they will usually structure the payments to be less than your normal utilities bill. This results in a much better financial return than leasing.

Catica

  • Bristles
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Re: Free solar panels
« Reply #4 on: August 16, 2020, 12:11:22 PM »
You can buy solar panels outright for close to nothing down and they will usually structure the payments to be less than your normal utilities bill. This results in a much better financial return than leasing.
Thanks.  There are so many companies doing this.  Is there something specific I should looking for in a company or just call anyone and have them give a free estimate?