Can I Really Get Solar Energy for $0 Down & $0 Out of Pocket

You Can Get Solar Energy For No Money Down and No Money Out of Pocket, but it’s not free.

In this article, we are going to dive into what exactly $0 Down $0 Out of Pocket means in regards to adding solar panels to your home.  If you are shopping for solar panels in Orlando or Florida then you have inevitably have heard the Phrase “Get Solar Energy for $0 Down and $0 Out of Pocket”.  This claim is designed to get you excited about adding an energy efficient product without any money involved. That might be where there begin to be some confusions. Here are some simple explanations to this statement as well as some guidelines to follow to get your best deal on solar panels.

Check out other great videos to help you understand more about solar energy and Solar Companies Youtube – Emerald Sun Energy Channel

What does $0 Down (NO Money Down) mean? First off it is NOT FREE.  You are buying something. However, if you are able to qualify for available financing then there is No Money Down as the entire purchase can be funded because many of the financing options available for solar companies do not require any money down.  Hence the entire solar project will be funded by the financing company.

What does $0 Out oF Pocket (No Money Out of Pocket) mean? This statement may be the one that causes the most confusion because it often leads people to believe that it is free.  Again it is NOT FREE, you are buying something. However, if you qualify for available funding it is true that you will have $0 Out of Pocket. The easiest way to understand this is to look at the example below.  What it points out is purchasing a solar panel system for your home will not affect your budget. Meaning you can use the money you already are paying the power company to instead pay for your solar power system that will improve your home’s value and convert a variable expense (power bill) into a profitable asset (solar panel system).  In most cases, you will actually be cash positive depending on which financing option you choose. So you can purchase your system with the money you already spend because your solar panel financing payment will be less than the amount of money you save on your power bill by switching to solar.

What do I need to do to qualify for this solar program?  Simply call Emerald Sun Energy a local Florida Solar Company located in Orlando and serving all of Central Florida, We will first do a customized energy consumption analysis to determine the size of the solar panels system you need.  We will then draw out a solar panel spec drawing so you can see how the panels will look on your roof. Then you can choose the financing option that best meets your needs and fill out the online instant approval application, we will have a decision within minutes of application.  The basic qualifiers are you will need a 680 credit score or greater to qualify. The financing company will also be looking at your debt to income ratio to determine if you are a good candidate for a solar energy system. Usually, a debt to income below 45% with a household income of $50,000 is able to be approved.

Example of how $0 Down $0 Out of pocket looks like:

With the advanced additions of Solar Energy Financing Florida Homeowners can get solar for No Money Down and No Money Out of Pocket

With the advanced additions of Solar Energy Financing Florida Homeowners can get solar for No Money Down and No Money Out of Pocket

First, we must figure out the amount of money you will be saving on your power bill every month to find out how much money you have available on a monthly basis to pay for the system.  In the above example of an actual solar customer, before they started using solar there power bill was $231 per month and after they switched to solar energy their power bill dropped to $29 per month.  Which is a monthly savings of $202 per month? So that means so long as we have a financing option that requires less than a $202 a month payment then we will be able to provide solar for $0 Out of Pocket because we are just redistributing money you are already spending to convert an expense into an asset.

Next, we will examine the financing options offered by the above Orlando Solar Company.

In the above example, you can see the available financing options for the customer where a 12 Year or 144 payments of $199 which is $3 less then they would pay the power company.  Or a 20 year (240 payment) option would be $162 per month essentially saving customer on average $40 over what they would have paid the power company. That is a yearly positive cash flow of nearly $500 plus they improved the value of their home and reduced their carbon footprint.  WOW!!

Please keep in mind in the above example we are using Net Sales Price which is the price of the Solar Panel System after you received your 30% Federal Tax Credit.  If you somehow do not qualify for the tax credit you will still be able to get the system for no money out of pocket but it would be only on the 20-year option that would accomplish this.  Either way, you are purchasing an asset using someone else’s money to pay for it. This is one of the biggest ways wealthy people keep and grow their wealth. You can see more about that is this video “Solar Energy is a Better Investment Than The Stock Market”

As you can see from the explanation and example provided $0 Down $0 Out of Pocket isn’t free but it is a tremendous opportunity for homeowners to be able to add Solar Energy to there home without affecting their monthly budget.  Please keep in mind that the 30% Federal Tax Credit expires at the end of 2019 so your window for taking advantage of such a great opportunity is closing. There will be a couple of years of reduced tax credits but you will have missed out on the biggest one, while you can do it without affecting your budget.

Reduce Your Power Bill by 20 percent in 1 Month

Electric bills are often the most expensive bill of the month.  During the summer months, they can be downright frightening.  Looking at alternative power sources like solar energy is a great long term solution that all Orlando Florida homeowners should implement.  However, for immediate relief here are some great free energy saving tips you can take advantage of.  If you employ all six of these energy saving tips you will be able to lower your power bill by 20% in as little as one month.  Making your home more energy efficient will lower power bills, reduce the strain on appliances and reduce your energy consumption,  This is a great first step towards using solar energy to power your home.  By reducing your overall consumption you will be able to install a smaller solar panel system and increase your overall savings.

Refrigerator Settings

Your refrigerator’s Settings should be between 38-40.  Higher temperatures may lead to bacteria growth and lower temperatures is just wasting energy.  Your freezer temperature should be 5 degrees to keep your food properly frozen.  Don’t set your refrigerator to low.  It is your homes most energy used appearance and can represent up to 10% of your electric bill.

Hot Water Heater

Hot water heaters represent 12- 15% of your electric bill.  So here are a couple of tips to reduce this cost.  First set your hot water to 120 degrees this is the temperature the department of energy suggests to get hot water and keep your costs as minimal as possible.  You may also benefit from a hot water heater sleeve.  Your hot water tank turns on every 2 hours to reheat the water by utilizing a hot water sleeve you can reduce that to every 6-8 hours and reap the rewards in energy savings.

Outlet Covers

In almost all homes, small amounts of outside air constantly leak in through your electrical outlets.  Since you probably have dozens of these this leakage can add up.  Simply upgrading to insulated outlet covers will solve this problem

Weather Stripping & Window Caulking

Another easy and simple way to reduce air leakage into your house is to make sure your weather stripping and window caulking are updated.

Smart Thermostat

Upgrade to a smart thermostat can save you up to 10% on your A/C & Heating consumption.  Auto schedule remembers the temperatures you set and programs a personalized schedule for your home.  So it allow homeowners to have a properly programmed thermostat without actually having to program it

LED Lighting

The US Department of energy says that LED’s are a highly efficient lighting technology that uses 85% less energy, and lasts 25 times longer than incandescent.  It is also using 60% less energy than fluorescent lighting and last 5-10 times longer and the filaments in the fluorescent bulbs are toxic when they break and they do.

In conclusion, these six energy saving tips can save you 20% off of your power bill in as little as 1 month.  After you have made your home more energy efficient and reduced your overall energy consumption you might also like to look at alternative energy sources like solar power to reduce your power bill to pennies.