Solar power’s getting cheaper all the time. According to the SEIA, it’s already 70% cheaper than it was ten years ago. At the same time, the Earth’s getting hotter all the time, making renewable energy an ever-more attractive prospect. Is it time for you to get on board with the latest solar panel house innovations? These are the things to keep in mind before you decide.
Does Your Home Suit Solar?
Although they still generate electricity in low-light conditions, solar panels perform at their best in direct sunlight. So, if your home’s in a shady location or a cloudy part of the country, you might not benefit much from installing solar panels.
Another aspect to consider is the condition of your roof. If your home’s due for a new roof installation soon, you’ll either need to delay your solar panel installation or replace your roof first.
It’s best to get in touch with a qualified solar installer for expert advice on getting started with solar.
The Cost of Installing Solar Panels
Solar panels for house installations in the USA cost from $8,000 to $40,000, depending on how many panels you need. Although the panels will pay for themselves within 20 years, that’s still a considerable expense.
If you usually spend more than $300 on power bills every three months, and you can get a favorable interest rate on a solar loan, go ahead and install solar. If not, you might need to wait until it becomes even more affordable.
Solar Panel Rebate Options
When you install a home solar energy system, the federal government grants you a 26% rebate on your income tax. Several states also offer incentives for homeowners who install solar.
Check with your local municipality if they offer any incentives to help bring down the cost of your solar panel installation. These savings could bring the costs of a solar panel installation within range of your budget.
Electricity Savings With Solar
If you opt for an off-grid solar installation, you’ll never pay another power bill again.
You could also install a grid-tied system. This means that you can still use electricity from the grid when needed.
When you opt for one of these arrangements, you can feed excess power generated by your solar panels back to the power company. In return, they’ll give you a credit on your power bills.
What About Solar Panel House Values?
Solar panels don’t always add value to your home when you decide to sell it unless you’ve already paid for your installation. If you’re still paying your solar loan, you’ll need to settle the balance with some of the proceeds from your home.
There’s no denying the appeal of solar panels for house buyers, but they’ll expect a reduction in your sale price if they must commit to a solar lease or lease-to-buy arrangement.
Weighing Up Your Options
Installing solar panels offers a wide range of benefits when it comes to convenience, environmental initiatives, and cost savings. So, if you can figure out a way to afford it, it’s always worthwhile.
Once you’ve been through our solar panel house checklist, you’re in a better position to decide whether renewable energy’s the right path for you.
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- About the Author
Abigail Bassey is an interior design and lifestyle enthusiast & blogger with over 5+ years of experience in writing and editing. She takes pleasure in helping people achieve their dream homes.