What every homeowners should know bout the cost of Solar Panel Installation

A lot of homes upgrade to a solar-powered houses and start saving money. But, why does it still stop you from doing the same thing? Don’t have the time to research on it? You don’t have a clue who you can talk to about this change? Or, nobody has explained the benefits to you yet? Of course, the major reason people choose to switch to using solar energy is to save money on their energy costs. But you will never get to enjoy this without putting in the proper amount of examination on all the costs associated with solar panel and installation and compare them against the potential saving.

Before getting all worked up and giddy with putting a solar panel on your roofs, be sure to investigate and assess all the possibilities using these 5 categories:

1. Check your roof’s condition. A typical solar panel would last to 20 years. It’s lifespan, however, isn’t necessarily the same with your home’s roof. A normal roof have their lifespan in between 15 to 30 years. Before deciding on putting your solar panels in, make sure that you have checked your roofs to prevent spending more money in taking them out after finding out that your roof is not able to hold your solar panels. If you are clueless on how to determine if your roof is still in a good condition, hiring a professional roof inspector will be better than suffering the cost of bad preparation. Some solar installation contractors would offer packages that includes new roofs and solar panel installation at the same time. Once you get the savings from using your solar panels versus the initial amount you invested in building your solar panel system, you’ll realize that switching to solar energy is the best decision you have made for your home.

2. Lease your panels or buy your own system? While leasing your solar panels might seem it more savings to you, reading the fineprint of that agreement is the usual miss that a renter often overlook. Leasing your equipment always work in favor of the installation company. Also, choosing to do it means that you will not be able to enjoy the Solar Investment Tax Credit that the government offers. This tax credit offers a dollar-to-dollar credit of your 30 percent of the investment you have put into your solar panel system. In addition to this, once you decide to let go of your home while you are still tied with the solar lease period, it would mean that you’re going for early termination of your lease agreement. Usually, this costs around $ 20,000. Offering it to the new homeowner is usually never the answer to this standing dilemma since the new owner should qualify to taking over the lease. While it may seem that a property with an existing solar panel system seems like a premium, it would only go for homes with systems that are purchased outright, not with the leased systems built-in. Installation costs can be kept as low as possible if you reconsider various financing options or even a dedicated solar loan.

3. Find out how much power your solar panel will generate. Assessing your normal energy consumption and in the future will help you give an idea of how big your solar panel system should be. An expert installer may help you in the process. Other factors that would affect your system generation are the size of your home and the climate where your home is built.


4. Matching your solar panels with your home’s needs High efficiency panels are pricier but the amount of energy it would generate for your home will help you save more on your energy costs. Panels constructed from monocrystalline silicon are the best performing panels but, as mentioned, are on the pricier side. On the other hand, cheaper panels made from polycrystalline silicon may be easy on the wallet upfront but will cost you more in the long run since it would not match the efficiency of the pricier panels. Earlier, it’s mentioned that the climate of your area plays a big role in deciding the solar energy system you will install in your home. The area’s climate also affects the efficiency of your panels as it produces less energy when it’s heated up. Panels that are specifically built to withstand high heat will work more efficiently.

5. Understand your savings for long term and maximize it. Upfront investments for solar panel systems may seem steep but the real savings will start pouring in after 10 years from your initial investment. The important thing is that proper planning and preparation has been done to understand the costs of installing the system. Working with an experienced professional solar installer is rewarding. All of the things that you need to look out for when deciding to have the solar energy system installed in your home will be coming from an expert. This way, you will be able to determine how your investment is paying off.