The internet is littered with websites, blogs, and offers where solar contractors claim to install solar panels on your roof for free.
If you are wondering how much truth there is to these claims, understand this: there is nothing called free solar.
Some of these so-called free solar offers are outright scams. Some other times, they refer to something else altogether, which isn’t free either.
That said, YES, you can get solar panels for $0 Down and $0 Out of Pocket in Stroudsburg in a perfectly legal, financially savvy, and responsible way.
Indeed, what the industry calls $0 down solar is not just one option but three different financing options available to customers – solar loan, solar lease, and solar PPA.
Let’s get down to brass tacks and understand what each option offers.
$0 Down Solar Loan
Solar financing agencies generally finance anywhere between 75% to 90% of the solar system value. The remaining amount comes out of your pocket as a down payment. This arrangement is no different from the standard mortgage.
However, some solar contractors like Green Power Energy work with financing agencies that offer 100% financing on your solar system. So, no down payment; no out-of-pocket expense of any kind.
Everything you owe to the financing agency will be broken into small, manageable monthly payments spread across several years.
$0 Down Solar Lease
A solar lease is virtually similar to a standard car lease in practice. With a solar loan, you retain the ownership of the solar system. In contrast, the financing agency owns it in the case of a solar lease. Since you don’t own the system, your leasing agency receives all the government incentives.
In any case, you don’t make any upfront investment into the solar system and only make fixed monthly payments for the leasing period. At the end of the leasing period, you can buy your system after paying its estimated current value at the time. Alternatively, you can enter into a new leasing arrangement with a brand-new system.
$0 Down Solar PPA
Solar power purchase agreements are very similar to solar leases except for monthly payments. Which are calculated based on the amount of power your solar system produces. Essentially, you are paying a monthly power bill to the company for using the solar power from your system.
Once again, you do not own the system, so you don’t get any government incentives. However, the responsibility for maintenance falls on the company and not you.
Make a Wise $0 Investment
Yes, you can get solar panels for $0 down and $0 out of pocket in Stroudsburg, but you have to be careful not to fall into the trap of a scam. Contact a trusted, reliable, and experienced solar company with a strong reputation in the industry, such as Green Power Energy. That way, you can verify their track record before signing a contract with them.
