Home Improvements: How to Make the Right Residential Solar Panel Purchase
Are you considering making improvements to add to your home value? Perhaps you want to adjust your home-living habits? If so, you might want to consider going solar.
One of the best ways to upgrade your home is by using solar power. It adjusts your living habits, adds to property value, and gives you a kickstart to practice sustainability. But the question is, how do you begin?
The right solar panel purchase can affect how well it affects your home. So, here are a couple of steps to help you find the perfect solar panel to add to your property.
Quick Reasons to Go Solar
Before you start, you might wonder why you should use solar energy. Many people suggest taking the chance to make the switch because of the benefits. But what exactly are those? Here are a few of the best ones.
Solar energy allows you to have more power without worrying too much about your use because your source is the sun.
One thing about it is that it doesn't necessarily run out of light. So, your system will keep producing power as long as it meets the conditions. As a result, you get to use more power in your home or store excess energy in batteries to use as a backup.
Solar panels help you save on energy costs and power bills in the long run. Even with the high upfront cost, you can expect the system to pay off itself in usually three to six years. Any power used after that goes towards how you save on bills.
You can calculate how it works by checking how much power you consume and pay to utility companies. After that, compare it to how much solar panel systems cost to determine how many years the payback period will take.
Increase Home Value
Adding a home solar system adds value to your property. Many consider it an advancement, so they tend to cost a lot when you install them. Just take note of how to transfer ownership once you sell your house.
The government and state encourage people to go solar by providing them with solar tax benefits, like exemptions or credits. You can get up to 30% of the tax credit, sale or property tax exemption, and much more.
If you share your excess power with utility companies, you can get extra compensation for using solar energy. Although they tend to pay based on the wholesale price of power, it's a great way to promote green power use and get extra cash from it.
Known Types of Solar Panel
When you prepare for installation, you want to know the types of solar panels you can find. In most cases, there are three main kinds. They are as follows:
Thin Film Panels
Thin film panels are light and flexible, making them the easiest variation to install. They make the most use of any surface area if you have trouble finding one that fits your space or roof. But note that it's also the least efficient option, so it will likely be the cheapest.
Polycrystalline panels are a good middle-ground that gives you a balance of good function and reasonable cost. It's a great place to start if you want to feel more benefits without spending too much as a first-timer. Additionally, it's easy to install no matter what type of roof you have.
Monocrystalline panels are the most efficient option available. They usually cost the most due to their construction and design. Although they take up lots of space, they produce more energy than the rest of the systems.
Understanding the Efficiency Level
A good way to choose what type of solar panel you should buy is by understanding how efficiency works.
Switching to solar power is a big jump from using regular electricity. So, whether you can only afford the cheapest or put your savings towards the most expensive type, you get to save lots already.
You still want to consider how efficient they are for your home based on the structure of your property. A few things to keep in mind is how surrounding factors might affect the system. It includes shading, space, climate, and sun exposure.
The more you understand it, the easier it will be to find a spot in your home or buy a type of solar panel that allows you to get the most out of it.
Figure Out How Much You Need
Besides choosing the type of solar panel system that gives you the most efficiency, you want to pick one that fits your energy needs. One way to tell is by calculating your average power costs, then picking the size of your solar power system based on the answer.
Some people use solar power as their primary power source but keep some of their systems connected to utility companies to reduce power costs. This way, they have a backup source of energy in case the solar panels don't generate enough.
Even so, you can hook all your appliances up to your solar panels if you prefer. It depends on how much energy you need and consume to function at home.
Prepare for Installation Costs
You can expect solar panels to cost a lot, from the price of the system to its installation. Many are hesitant to make the switch because of these high upfront costs. Nonetheless, you could increase your savings by choosing the right one.
Moreover, you receive federal and state benefits to help you pay for the system. For example, you don't have to pay sales tax upon purchasing the system or you get exempted from property tax for it.
With this, you get to reduce how much you're spending on the system and get returns from it later on.
Compare Financing Options
Now, you might wonder what are the different ways to finance solar panels without being too risky. You only have to pay for solar power once unless you make repairs or maintenance.
Here are some payment schemes you can consider:
You can get the most savings by paying for the system up-front in cash. With this, you pay for the solar panels as is, without interest or extra payments.
It also gives you access to rebates and other incentives because you own the system. And so, all the benefits go directly to you.
Get a Loan
If you don't have enough cash to pay for the system, consider applying for a loan. It could be a personal loan, a mortgage-related one, or others that you find suitable.
Note that buying a solar system through a loan means you save less since you have to pay for the interest. It adds up to the total price of the solar panels, making it seem like it costs more than it's supposed to.
But with a loan, you can start using the system without worrying too much about your expenses. You also get the benefits because you are the owner of the panel.
A solar lease is the cheapest option available if you want to use solar energy but don't have enough to pay for it. One way to understand how it works is by comparing it to renting a property.
You get to enjoy the benefits of using solar power at a fixed rate, but you don't receive the incentives it comes with. The ownership goes to the company, even if the system is in your home.
As a result, you only pay for power at a cheaper cost but don't make as much long-term savings due to the lack of benefits. Even so, it helps if you want to lower your power bills without adjusting your lifestyle too much.
Choose a Solar Provider
Your solar power provider plays a big role in how effectively your system works and how it impacts your home. Because of this, you want to find a high-quality solar company to install and manage your system.
A few things to note when you choose a solar company include the following:
Confirm Licenses and Certifications
You want to be sure you're working with a solar company that has high credibility. Their licenses and certifications can confirm that for you. If they have all the papers, you can trust that they're a real business.
View Their Reviews
See what people think of the solar company and what their experiences have been so far. Get as many testimonials as you can. This way, you can get a clearer picture of their pros and cons.
Compare the Costs
The price you pay for solar panel installation and maintenance will vary from company to company. Ask your candidates for quotes to compare them and determine the best deal.
Go Green for the Better of Your Home With the Right Solar Panel Purchase
Going solar is a big leap in lifestyle and power costs, so you want to be sure to make the most out of your system. It's vital to make the right solar panel purchase. This way, you know you're benefiting from the system in the best way possible.
If you want to learn more, check out the rest of our blog!
When considering residential solar panel purchases, it's essential to explore sustainable and off-grid options. You can find valuable insights on Offgrid Living Solutions, a resource dedicated to helping homeowners make informed choices for eco-friendly living.