Solar Energy is gaining popularity due to increasing utility power bills and reduced cost of project installation. Here is all the information you need to know before switching to solar energy
Why Should You Opt For Solar Energy?
Using solar energy has a positive impact on the environment. Most kinds of solar energy systems can help you save money in the long run. A solar energy system is also quite easy to install. These factors have made solar energy systems a smart investment.
What Solar System Program Should You Go For?
There are two common types of solar energy program systems: solar power purchase agreement and solar power lease.
Instead of purchasing solar panel systems, some homeowners prefer to lease them. By leasing a solar panel system, they pay monthly fees for the solar energy produced. The monthly fee is lower than the fee paid to local utility companies. By leasing a solar panel system, you will not have to worry about its routine maintenance or repair costs.
However, homeowners who purchase solar energy systems can save money by taking advantage of tax rebates and credits. You should take these into account when deciding if residential solar power is worth it for your home. The owners of solar panels tend to save more money in the long run than those who lease solar panels. This is because leasing agreements are beneficial only in the short run. Over the years, leasing could cost you nearly three times the upfront cost of purchasing solar panel systems.
There are various financing options available for purchasing solar power systems. If you opt for a loan, your monthly loan repayments would be considerably less than your previous electricity bill. Your solar power would essentially be free once you have paid off the loan.
Are Solar Power Systems Useful Only In Certain Places?
Many believe that solar panel systems are only useful in states that are sunny throughout the year. However, this is not true. Massachusetts receives nearly four hours of peak sunlight on average, while Arizona gets about six-and-a-half hours of sunlight. Despite having fewer sun peak hours than California or Arizona, Massachusetts and New York are among the top 10 states that use solar power. This is because solar panel systems require at least four hours of sunlight every day to work efficiently. You may even opt for higher-efficiency solar panels as per your needs.
Will Solar Power Be The Only Electricity Source?
Through on-grid solar panel systems, homes are connected to the city’s electricity grid. This system ensures a continuous power source when required. However, you will have to rely on generators and battery storage if you prefer living off the electricity grid. A reputable and experienced solar installer like SEM Power can help you choose the ideal electricity source for your home.
What Happens If The Solar Panels Produce More Power Than You Need?
The excess solar energy produced by your solar panel system will not go to waste. If your solar panel system is connected to your city’s grid, the extra energy produced will be fed into this grid. You will be compensated for the electricity you send to the grid through net metering; your utility company will credit your account for this extra electricity. However, for off-grid solar systems, the excess power produced goes into the battery storage. This electricity can be accessed when your solar system isn’t producing power, like during cloudy weather or at night.
Why Should You Know The Details Of The Solar Panels You are Buying?
There are many solar panels available in the market. Each type of solar panel has its advantages and disadvantages. The solar panel installation company should be able to tell you about the panels they are going to install on your roof. Silfab, Longi, Rec, Lumos and LG offer high-quality solar panels.
Nevertheless, Silfab stands out because of its 30-year linear warranty and the standard 25-year linear warranty they offer. This guarantees the output of your solar power system. If the system is unable to meet the requirements, they will replace the panels. Additionally, Silfab’s solar panels are the only panels fully made in the USA.
Will You Require A New Roof?
Before installing solar panels, your roof should be inspected to check whether it can withstand the panels’ weight. You must contact the company or the contractor who installed the roof to determine if the solar panel installation will affect your roof’s warranty.
Additional Information To Know About The Solar System Installation
You must know how the solar panel system will be attached to the roof or property. Ask the installer how many penetration points they will put on the roof. Some installers use rail systems that minimize penetration. Good installers will tell you the advantages and disadvantages of the mounting systems they plan to use.
What Are The Financial Benefits Of Installing A Solar Panel System?
Your home size and the amount of energy consumed will determine how beneficial the project is. Additionally, you might find certain types of solar panels more financially beneficial than others. The cost of residential solar power systems could range between $15,000-$25,000 as per the Center for Sustainable Energy. Over a span of 20 years in California, an average solar power system can help you save over $35,000. If you purchase the solar system, you may save more than double this amount on your electricity bills.
If you purchase a solar power system (financing with a loan or paying upfront) for your commercial or residential property between 2020-2022, you are eligible to receive a 26% federal tax credit. This means there could potentially be a 26% drop in the solar energy system cost if you purchase it instead of leasing the system. You should discuss this tax credit with your tax preparer, since the tax credit is based on your tax liability. Some people don’t always get the full 26% if they don’t owe enough taxes. Check out DSIRE (Database of State Incentives for Renewables & Efficiency) for information on the tax credits and rebates offered by different cities and states.
Just like any home renovation project, you need to research a lot before hiring the right contractor to install a solar power system for your home. The SEM power solar experts will design a solar panel system that fits your budget. Visit https://sempower.com/ to learn more about solar installation and maintenance.
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