The price of solar panels has been decreasing, and installing them is also getting cheaper. This makes it more affordable for homeowners to switch from their regular power provider to a company that provides solar-powered energy. This blog post will discuss how you can switch your home over to solar power and start saving money!
1. Consider Leasing
Installing solar panels is considered one of the top ways to go green in your home. When it comes to adding the panels, you have the option to choose between buying and leasing.
Buying is the more straightforward option. You will be responsible for paying a lump sum of money upfront to purchase and install your solar panels. There are no monthly or yearly fees associated with this decision, but you may have to pay taxes on any income generated by the system.
Leasing still means that you own your solar panel installation, but rather than making an outright payment upfront like buying, you’ll make payments over a specific time frame (usually between 20-25 years). These leasing companies offer different incentives, so it’s worth comparing them before deciding which one to go with. One benefit of leasing is that if something happens during those 25 years where you’re unable to make payments anymore because they’ve been taken away from work due to a layoff, for example, they will still be able to take over the payments until you’re back on your feet again.
The leasing company is also responsible for taking care of any repairs needed during those 25 years, and some may even offer an additional warranty on parts.
2. Compare Prices
In Florida, the average cost of electricity is $0.11 per kilowatt-hour, leading to a monthly bill as high as $124. But by using solar panels on your roof and electric power for your home, you could save up to 70% or more each month in green energy bills!
When switching to solar energy, it will be best if you compare prices between solar power providers. By getting quotes from different companies, you can compare the cost of installing solar panels on your home and receive a guaranteed price for years. Some providers will offer free quotes!
In addition to choosing a provider with an installation cost within your budget, it will help if you went for one with advanced tech. As mentioned at WindMar Group, it will be best if you choose a provider that allows you to take control of your energy expenditure. With this, it means that you can set a fixed cost of electricity and prevent surprises in your monthly electricity bills.
3. Take Advantage of Incentives and Rebates
Solar energy is one of the most cost-effective sources of green energy available today.
Incentives range from state rebates for solar panels to federal tax credits.
For example, in California and New York, various incentives provide financial assistance with purchasing a solar panel system or installing an onsite renewable generation system. In Oregon, customers who purchase qualified residential installations receive a rebate equal to 50% off the total installed price per watt up to $5000; they will give you half back. Federal law provides individuals and businesses with a 30% investment tax credit for any portion of your project costs, including hardware such as photovoltaic modules, racks, inverters, wiring harnesses, etc.
The federal government also provides grants to state and local governments for their renewable energy programs. For example, the Maryland Energy Administration offers a 20-year program that pays installation costs upfront in return for an annual payment over two decades.
4. Warranties
Installing solar panels can be expensive. One of the main reasons for this is that it’s not always clear what you are getting or getting a warranty.
Most renowned companies offer an industry-leading 25 year (or more) performance and product warranty as well as lifetime support from certified technicians at no extra charge.
With such a long lifespan on their products, that guarantees your system will be operational throughout its expected life span so they can provide continued savings!
This means less money spent upfront to receive returns over time in lower energy bills and tax credits/rebates – making going green that much easier!
5. Consider the Season
The cost of installing solar energy varies from one month to another. The price will be lower in the summer months and higher during the winter.
The optimum time to install solar energy is at the end of fall when there are fewer days of sun than any other season, but it’s not too cold outside yet. By choosing the right season, you get to save some money on installation.
The switch to solar power is a good investment if you have the money and are environmentally conscious. It’s also a great way to give back by reducing your carbon footprint as much as possible, which will help future generations who may not be able to enjoy the clean air or water as we can now. By reading this blog post, you’ll understand the basics of switching to solar power and how you can save money while at it.
