Florida solar companies advertise solar panel installment in a lot of different ways. One of the most popular methods is to claim “free” panels within the context of a special deal or contract. But is it too good to be true?
There are definitely a few things that Florida homeowners should know about such deals and how to determine which offer is a good financial fit. We’re diving into what free solar panels in Florida could really mean, and how to decide which solar option is right for you.
Can You Get Free Solar Panels in Florida?
There are no deals that allow you to buy solar panels for free in Florida, however, there are deals that involve no-cost solar installations. This means you can get panels with no upfront cost but will still be liable to pay monthly fees and pay for the electricity you use.
Solar Leasing Agreements
In solar leasing agreements, the solar company installs solar panels on your roof for no upfront cost, and you pay a reasonable monthly fee for the duration of your lease. Solar leases are often for 15-25 years. You gain the benefit of power generated by the panels, and the lease rate can be more favorable than repaying a loan to buy the panels outright.
Power Purchase Agreements (PPAs)
A Power Purchase Agreement or PPA allows the solar company to install panels on your roof for no upfront cost, and instead of a lease, they will sell the energy generated by the panels to you at a fixed rate that is lower than the power company. It’s a way to save on energy bills and go green without a big solar investment, but you are buying the power generated on your roof.
Florida Property Assessed Clean Energy (PACE) Program
The Florida Property Assessed Clean Energy (PACE) program provides a finance option for Florida homeowners looking to upgrade their homes with solar panels. While you still have to pay off the panels over time with your property tax bills, this offers a more affordable plan, with interest rates as low as 6%.
Factors To Consider When Pursuing Free Solar Panels in Florida
There are a few things to consider when choosing a free solar installation deal.
Exempt From Incentives and Rebates
If you do not fully purchase your solar panels, you will not be eligible for the 30% tax credit offered by the Federal government. You also miss out on rebates, which will go to the solar company instead of you.
Agree to Terms and Conditions
Carefully review all terms and conditions of your solar deal before committing to an installation offer. Some contracts have an escalator clause, which allows them to increase your monthly payments over time.
Won’t Own the Solar Panels
Most importantly, remember that the solar panels will belong to the solar company. While this comes with benefits like maintenance services, you do not own the solar panels outright.
Which Is the Best Solar Option for Florida Homes?
Florida is a great state for solar, but it’s important to choose your options carefully. Solar Optimum can help guide you through the decision-making process. We’re happy to help homeowners in Polk County, Hillsborough County, Orange County, the Greater Orlando area, the Greater Tampa area, and Central Florida. Download our Guide to Going Solar to learn more about how to make a smart investment with this energy alternative or contact us to make the best solar options for your Florida home.
