As with any new and rapidly expanding technology, there are a lot of myths about solar power floating around.
Today we'll tackle a couple of particularly pernicious ones that seem to be gaining ground.
Myth #1: The government is handing out free solar panels
You've probably seen advertisements promising "free solar panels from the government."
Unfortunately, just like the proverbial "free lunch," there's no such thing as free solar panels. So beware of anyone claiming that the government or anyone else is giving them away.
That doesn't mean that the government isn't offering some very generous incentives for going solar. And, though free solar panels isn't one of them, it is possible to realize immediate monthly savings by going solar without putting any money down.
The Reality
Over the past few decades, solar panel efficiency has steadily improved while manufacturing costs continually declined. The result is that many typical homeowners can now finance a solar system at lower monthly payments than they're currently spending on electricity.
That translates to immediate monthly savings—savings that will steadily increase as electric rates inevitably rise along with the monthly cost of powering your home.
Moreover, while there's no such thing as free solar panels, the government does offer another very generous incentive that allows homeowners and small businesses with good credit to finance a solar system without putting any money down.
The Solar Investment Tax Credit (ITC)
The Solar Investment Tax Credit (ITC) lets you deduct 30% of the full cost of going solar from your federal income tax bill.
If your credit is good, it's very likely that banks will be willing to credit you with a 30% down payment in advance... so long as you agree to turn the full amount over to them come tax time, of course.
There is, however, one important caveat: Not every homeowner will be in a position to do so.
There's only one way to determine whether going solar will save you money and, if so, exactly how much and on what schedule.
You need to get an estimate of how much energy a solar system fitted to your roof will produce each month from an installer who's willing to guarantee their numbers in writing.
But, if you've got a roof surface that gets good unobstructed sunlight and your credit is okay, there's an excellent chance that solar power can give you immediate monthly savings with no money down.
Myth #2: Solar panels will damage your roof
Installing solar panels on the top of a house is a big job. So concern about potential roof damage is certainly warranted.
As with any modifications to your home—especially those involving its electrical system —it's important to get a reliable contractor with a good reputation in your area.
But as long as you make sure that you're dealing with a reputable and experienced installer, there's no reason that installing solar panels should cause any damage to your roof or any other part of your home.
Any reputable firm will fully inspect your home before installation begins to make sure it's up to snuff. That includes an engineering and structural review to ensure that your roof can easily handle the additional weight.
The Reality
As long as you make sure to work with a qualified, licensed, solar installer with a good reputation in your area, roof damage shouldn't be a concern.
In fact, any type of structural damage from installing solar panels is extremely rare. And, if you do hear such a story, it's all but certain to be the result of hiring a disreputable or inexperienced contractor.