- The "Free Solar Panels" pitch is a product of 20 years of poorly planned advertising.
- href="https://youtu.be/yRU40N78BKg?t=2" target="_blank" rel="nofollow sponsored noopener" title="Free Solar">YouTube clip with FREE SOLAR
The “Free Solar Panels” pitch is a product of 20 years of poorly planned advertising. #
or possibly the birth of what one would call “click-bait” advertising. Don’t forget what your grandparents would tell you; “There ain’t nothing for free.” Well, they were right. No solar panels or solar flowers, or community solar is free. Free Solar Panels rarely occur in any written advertising. The “free” pitch likely came from the D2D industry many years ago.
href=”https://youtu.be/yRU40N78BKg?t=2″ target=”_blank” rel=”nofollow sponsored noopener” title=”Free Solar”>YouTube clip with FREE SOLAR #
The most important thing you can do is educate yourself. Now with all of that said. There is some logic if you are willing to stretch reality a bit. Come along; I brought my reality stretcher, so slap on your thinking cap and follow me. Hypothetically, if you spend $100/month on your energy bill, you have a $100 monthly budget. Your sales rep sees the $100 as your baseline. He believes that if he can get your energy needs covered by the new panels, you could finance the panels with a new payment of only $80/month. That salesperson feels like he did you a huge favor because $20/month isn’t anything crazy, but it does add up over time. That saving adds up; you have saved about five thousand dollars in just twenty years. That does not even account for inflation. Don’t get me started on inflation. Take it or leave it, that’s the logic, but it’s not free. Free solar panels are simply a myth.
However, I have heard it explained in terms of ROI. So what is the ROI on solar panels? This explanation might be more misleading than the “Free Solar Panels” explanation.
Usually, the explanation goes like this. The average monthly payment is $200/month. The total price of the solar after the tax credit is $16,800. So the $16,800 is divided by the $200 payments, and then we are told the investment is returned in 84 months. Makes perfect sense, except no. No, it makes no sense at all.
Person A spends $200 each month for 84 months, and they have absolutely nothing to show.
Person B spends $200 each month for 84 months, and they have a power-producing electrical plant to show for it. In addition, they have 18 more years of energy, all guaranteed by their warranty. Does that mean you got free solar panels? No, of course not. You made an investment in your own small power company. You made a calculated bet that your power bill will continue to go up like it always has, and your power company will have a lower fixed payment.
This is the entire reason people all around the world sign 30-year contracts to buy homes.
The ROI is not seven years. The ROI is the first day you make payment. The return at that point is the equity.
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