Buying Solar Panels for Your Home

October 19, 2020

Purchasing solar panels for your home is a great way to play a part in improving the environment. Powering your daily life with energy from the sun rather than fossil fuels reduces the amount of carbon and other pollutants emitted into the environment. You contribute to creating cleaner air and water!

Mother Nature, however, is not the only beneficiary when you buy solar panels for your home. Through lowering electric bills, solar panels eventually pay for themselves and then put money in your wallet. Homeowners in the United States tend to break even on the cost of their solar panel system after about eight years. Realize, though, that savings differ based on factors such as the size of your solar energy system and the cost of electricity in your area.

With solar panel systems expected to last about 25-30 years, it’s easy to see how installation could be a good long-term investment. Even if you decide to move, this desirable home improvement can increase the resale value of your residence when it goes on the market.

More great news: Installation costs for solar panels have dropped roughly 70 percent over the past 10 years. Furthermore, solar energy systems are eligible for a 26 percent federal tax credit in 2020. This figure drops to 22 percent in 2021, making swift action to your benefit. Perusing the Database of State Incentives for Renewables and Efficiency (DSIRE) can help people interested in installing solar panels find additional state, local, and utility incentives.

Considerations When Buying Solar Panels for Your Home

As solar panel systems are a major purchase, it pays to learn before you leap. While the option for DIY installation exists, consumers oftentimes find it very helpful – and more cost-efficient overall -- to work with knowledgeable professionals.

For starters, professional solar panel installers can assist in evaluating home suitability. They look at the size, shape, slope, and age of your roof. They also examine tree cover because excessive shade can hinder performance. From physically inspecting your residence and studying your electricity usage based on past bills, they can pinpoint systems suited to your needs.

Since solar panels do not produce electricity at night when the sun isn’t shining, home owners need to understand how their home will run during that time. Professionals can explain in detail available options such as net metering (connecting to an electric grid and receiving credit for surplus solar-produced energy during the day) and solar batteries (mechanisms that store excess energy produced by solar panels during the day).

Do not assume solar panel installers are all the same. As you obtain bids, the U.S. Department of Energy advises the following:

• Ask for proof of licensure. The solar industry standard certification is from the North American Board of Certified Energy Practitioners.
• Make sure all bids are based on the same characteristics and metrics. A thorough bid states the total cost of getting the system up and running, not just certain elements like hardware. Cost/watt and estimated cost/kWh are generally the most useful metrics for making comparisons among companies.
• Make sure your installer is familiar with local processes regarding building permits and permission to interconnect.
• Know the conditions of the warranty and whose responsibility it is to properly maintain and repair the system.
• Consult your state electrical board and/or the Better Business Bureau to see if the company has any pending or active judgments or liens against it.

Lastly, be sure to compare rates from various solar installers. You deserve to obtain maximum bang for your buck!