Man has to pay for panels until age 108
But before you sign a contract, know the pros and cons because some buyers have to pay for years and years and never see the promised savings.
Angela Thompson was excited when her elderly brother signed on to purchase rooftop solar panels after a salesman promised he would save money on his electric bill."He doesn't have enough income to cover it," he said, Thompson says the salesperson got her brother to agree to $129 a month for nearly two and a half decades, paying $37,000, including $15,000 in interest.But her brother is 83 years old, meaning he is supposed to pay until he is 108 years old.Andrew Blok is an editor at CNET. Unfortunately, he has seen this before.
He says the top selling points for solar include savings, environmental benefits, and boosted reliability. But Blok says it’s a bad idea to rush your decision."Talk to multiple installers," he said."Don't go with your first quote."“Their first-hand experience is super valuable," he said.Finally, he says to check for savings from the government.Garrett Nilsen is the deputy director of the Solar Energy Technologies office at the U.S. Department of Energy.
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