Homeowners Install Solar Panels Without Paying Upfront

June 11, 2012 12:00 AM
Homeowners Install Solar Panels Without Paying Upfront

" BOSTON (CBS) – Workers recently swarmed Francisca Guerva’s two-family home, installing a state of the art array of solar panels.

Normally, installing a system of this nature would cost about $30,000. Francisca, however, is paying nothing. She says her neighbors think she has won the lottery.

So how did Francisca manage to get this system for nothing up front? The big difference on her house is the panels were leased.

Not only did she forgo an upfront investment, she also paid nothing for the installation.

In return, Francisa signed contract for the next 20 years, agreeing to buy the solar generated power that is created on her roof. But here’s the big payoff: her locked in rate is significantly cheaper than traditionally generated power.

Kelcy Pegler, Jr. of Roof Diagnostics Solar said, “On an overall average, our customers are saving $25,000-$50,000 over a 20 year period.”

Business is booming all along the Northeast "

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