Shedding Light on SolarMay 19, 2018
– Christina Mathieson
“READ BEFORE YOU SIGN ANYTHING”
Myth: Solar Systems Are Expensive
Fact: Over 90% of New York homeowners go solar with zero out of pocket cost, get access to low-interest financing and save upwards of $100,000 overtime when they own their solar through a reputable solar contractor.
Myth: I Can Get A Free Solar System
Fact: There is no such thing as a free solar system. Homeowners can choose one or the other: If you choose free installation and free equipment, you’ll pay for the power produced for a period of time, often twenty years. If you choose to pay for the equipment and own it, the power that the system produces over time is free to you.
Myth: Adding A Solar System is An Additional Bill
Fact: Solar customers are using the same dollar they would have used to pay their electric bill (usually less) as a solar system creates the power they used to buy from the utility. If the solar is paid off through the mortgage or alternate finance methods, there is no “solar bill”, just the minimal connection charge from the utility.
Myth: Solar Systems Are Ugly And Ruin The Ascetics of The Home
Fact: Many homeowners consider solar panels on their roof a badge of glory these days. There’s a great sense of pride for many that they’re producing their own clean energy from the sun to power their homes. Note: There are many companies out there subcontracting the actual installation. Homeowners must be sure the company they choose for their solar project doesn’t sub-contract and provides a tremendous number of local references. Lack of experience can result in shoddy workmanship.
Myth: There Are No More Rebates To For Solar Systems
Fact: There are tremendous tax credits available to homeowners that can account for up to 60% of the total cost of a solar system.
Myth: If Your Roof Is Old, You Can’t Install A Solar System
Fact: The BEST time to consider solar is when you know you need a new roof. There could be tremendous tax advantages to having the roof and the solar done at the same time AND there may be no out-of-pocket cost.
Myth: Solar System's Lasts Only 20 Years
Fact: The equipment that reputable solar contractors use is all warrantied for a minimum of 25 years and third-party testing shows some high-quality products will last up to forty years.
Myth: If I Can Offset Half of My Electric Bill With a Solar System, It’s Not Worth It
Fact: Producing your own electricity with the equipment you own is ALWAYS worth it. If you’re replacing that portion of your electric bill with a low-interest solar loan or including it in your mortgage, that loan payment will stop at the end of the term and your solar will continue to produce power. If you just keep paying the utility, that’s forever and you can bet that payment will keep going up year after year.
Myth: Solar Systems Are A Scam
Fact: Some solar companies prey on ill-informed customers by making claims that can’t be substantiated. A solar lease or PPA (Power Purchase Agreement) must be reviewed very carefully.