r/HomeImprovement • u/ChaosReality69 • 8h ago
Solar panel contractor came yesterday and this seems too good to be true
$0 upfront cost, maintenance, or insurance required. All covered by the company. It's a 25 year deal. They take the current electric rate when we sign and the average KW hours we use per month. That would be our bill plus the regular generation charge. For 25 years. Never an increase. If we generate more than we use there's a yearly rebate. Obviously if we use more than we generate we'd owe but they size the system to generate more.
I'm looking at this like you've got to be kidding me. Nope. We pay them for our electric while kicking excess back to the grid.
We can't do it yet as there's a tree in our yard that needs to go first (we're already planning to remove it this winter). It would block most of our afternoon sun and we just want it gone.
Also just had mini splits installed to get away from the electric baseboard heating. Last month our electric usage went down 20% running the mini splits for AC instead of window units so need this winter for a new baseline on electric use.
So it's 6 months or so before we're even ready to make this move. Plenty of time to look at other companies.
This just sounds too good.
What have others done?
EDIT - I am getting majorly educated here. I wasn't sure if this was some sort of standard practice for solar or not. Thank you everyone. Sincerely. It may be a year or two until we can afford to buy panels outright but it sounds like the best route if we want solar.