Considering Solar Panels for Your Home? Here's What You Need to Know

solar roof panels for residential home

You've heard about the benefits of residential solar electricity, and you're wondering if you should also make the switch to solar this year.

Of course, if you've done your preliminary research, you already know that going solar isn't exactly cheap. Sure, the initial costs go down each year but you'll still spend a considerable amount on the equipment, plus the installation labor fees.

Now, since you understand that solar power is an investment, it's not surprising if you'd want to do more research on it. To help you out, let's discuss solar panels for your home, focusing on the factors you should consider so you can make the right decision. 

How Much Are Solar Panels for Your Home, Anyway? 

Solar panels are the most expensive component of a residential solar electric system. That's why when shopping around for the best solar panels, you'll want to check panel efficiency. Generally, the higher this number, the better its performance, and of course, the more expensive it is, but don't just look at the price tag.

When you install solar panels with as much power output as your roof will allow, the more you'll save on your energy bills. You'll also get a faster return on investment.

Still, if the price of a solar energy system makes you think twice, consider checking your state's tax incentives. Many states give tax incentives, as well as cash rebates to homeowners and businesses for going solar in addition to the almost 30% federal solar tax credit. You might also want to look into your solar financing options. 

What About Solar Panel Installation?

Sure, you might save a lot by installing solar panels yourself, but do you know how suitable your home is for solar? What if your roof's quite old or if there are trees near your home? 

Do you know how to choose the right sized solar power system for your home? 

If you're not a certified solar installer, you risk damaging your roof. Plus, you might end up not getting the right power output. 

Until a plug-and-play solar array becomes available in your local home improvement store, it's best to leave solar panel installation to the pros.

Is Leasing Better Than Buying the System?

Leasing a solar energy system has its pros and cons. If you lease the system, you only need to pay a monthly fee, and you don't have to worry about any upfront costs.

As for repairs and maintenance, they're the responsibility of the solar leasing company. For example, if your rented panels get damaged in a storm, you don't have to pay out of pocket to have them repaired. The same applies to broken parts like a faulty inverter or damaged rails.

The downside, however, is you don't get any rebates or incentives. All these go to the solar leasing company. You also can't sell any excess power your panels produce, unlike when you own the system.

Consider these pros and cons, especially if your main goal is energy savings. You might be better off buying the system than leasing it.

Ready to Go Solar?

Now that you know more about getting solar panels for your home, are you ready to get in touch with solar installers in your area?

If you're still not 100% sure, you can try checking our other posts for more tips and advice on going solar.

 

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