The cost of solar panels has dropped dramatically since 2008, which might have you exploring your options for installing solar panels on your home.
It’s a big step that still comes with a big price tag, so it’s important to learn what you can about panels, solar energy, and installations before you take the leap. Let’s take a look at some of the key facts you should be adding into your equation if you plan to enjoy the advantages of solar energy to power your house.
Solar Is a Commitment
Solar panel warranties tend to run 20 to 25 years for good reason. Even after year 20, a panel array can still be producing 90 percent of what it put out in the first year.
This makes solar panels a good bet, but it also means you need to be extra vigilant in choosing your installer. You’ll want a company that’s going to warranty the work they do for the long haul as well.
Not Every Home Is Appropriate
While solar works for most houses, some factors might affect whether it’s right for your home. Your roof needs to be in good condition and facing in a direction that allows it to capture sun year-round. Too much shade reduces the effectiveness of the array, and you need to have enough space for the system.
The concerns are mostly about making sure installing solar panels is cost-effective for you. If the system can’t generate enough electricity, it won’t save you much on your energy bills.
You Can Lease Your Panels
You don’t have to buy a solar panel system to take advantage of green energy. Your options for paying for them include either a lease or a power purchase agreement. In those cases, a solar power company owns the panels on your roof, and you buy your electricity from them.
Cash In On State and Federal Incentives
Even though solar panels have been around a while, there are still incentives available for installing a system. For example, the Solar Investment Tax Credit will be available through 2022. You do have to buy a system rather than lease to take advantage of incentives, though.
Solar panel companies like Blue Raven Solar can help you find and take advantage of the options available.
Solar Improves Your Home’s Value
Solar panels are seen as upgrades just like a finished basement or renovated kitchen, and buyers are willing to pay a premium of about $15,000 for them. There’s even evidence that having an array on your roof can help your home sell faster!
This means you can get value out of your installation even if you don’t plan to stick around for the entire lifespan of the panels.
Is Installing Solar Panels For You?
Whether you have the space for installing solar panels or need the financing to pay for them, there is a lot to learn about solar panel installation before you begin the process. The benefits of solar panels run from saving you money on your electric bills to improving the value of your home, so it’s worth taking a look at whether they are right for you.
If you’re interested in learning more about making your home the best it can be, check out our other home improvement articles for tips and projects.