You may have heard about FREE Solar Panels! Sounds Great, doesn’t it? Well it is!
A lot of companies advertise solar panels as free because of they have no “out of pocket” expense.
Here is an example of how solar panels are really FREE:
Step 1. You purchase a system from Paid4Power Inc. ie. the 10kW system according to the local promotion. But wait, it doesn’t cost anything right? Keep reading….
Step 2. Paid4Power Inc. finances the system to you through TD Financing Services.
Step 3. You pay the financing which is about $270/month for a 10 kW system.
Step 4. The hydro company pays you an average of $417/month for the solar you sell back to them, so in essence it is free.
All of the major companies in the industry are marketing solar panels as free, and they are free, but it doesn’t mean that someone is literally giving you solar panels (like a birthday present).
Your net financial benefit from the example above:
You earn: $417/month from hydro minus your financing cost of $270/month
= $147 net profit per month…. and it didn’t cost you a cent!
For more information on the MicroFIT Program click here.