What’s the deal with solar?

Climate change is a reality in today's world and individuals and businesses are assessing whether installing solar is a good idea today. The answer is an unqualified yes, but there are many variables to consider. When it comes to big ticket purchases, a solar panel installation is one of the most beneficial. The benefits of solar energy are many and sometimes fairly dramatic: you’ll significantly reduce your energy expenses while also upgrading from fossil fuels to a clean renewable solution. Many people feel empowered when they generate their own energy without adding to the planet's pollution. However, it’s important to maximize your potential savings and system efficiency with solar. In order to do so, there’s a vast amount of information that you need to understand. This article will give you an overall picture of all the solar panel information you should know before committing to a solar energy system.

What will solar panels cost?

The cost of solar has dramatically dropped in the past decade and it continues to fall, despite tariffs levied on solar panels from China. This results in a lot of questions about how much you should expect to pay for a solar panel installation. The first thing you’ll want to do is compare prices between companies and installers. This can give you general guidance, but to get a better idea for your home, look at what it costs to go solar in your specific state or neighborhood. Local incentives in your area are a big determining factor in your overall installation costs. You’ll also want to consider your electricity bill to estimate how much money you’ll be saving with solar and how soon your system will pay for itself. Check out some of these key resources:

What do solar panels cost in 2018?

Are electricity prices going up or down?

How much money can solar panels save?

How do I calculate my break-even point for solar?

How should you finance your solar panels?

The topic of financing is particularly important to research when it comes to solar. There are significant differences in net cost and long-term savings from solar depending on how you choose to pay for the system.

There are a couple of options if you decide to install a solar energy system. You can either purchase your system outright or use a third party option to finance it (using a lease or PPA), and there are advantages and disadvantages to both options. The majority of all solar deductions, rebates and incentives will only apply to homeowners who purchased their solar system – third-party buyers will not qualify.

Some important solar questions

Should you buy or lease your solar panels?

How do solar leases and solar PPAs compare?

Which companies provide solar loans in my state?

What incentives and tax credits are available for those considering solar?

Solar is the cheapest energy source in the world thanks to silicon efficiency innovations, and the U.S. has a long list of additional solar incentives and tax breaks that make solar even more attractive to home and business owners. From net metering to the federal tax credit for solar, there are several ways to reduce the price of a PV system for your home or business. Here are three rebates and incentives that are offered across the country:

The federal tax credit (ITC) for solar

Solar Renewable Energy Certificates (SRECs)

Net metering

What solar equipment will I need to research?

Though the primary equipment for your solar installation will be the panels themselves, there are a number of other necessary parts needed to have a complete PV system. From the required equipment like inverters and racking to the add-on considerations like tracking mounts and monitoring systems, there will be a hefty list of equipment decisions to make in order to get the best system for your home.

See our blog for more information about solar energy!

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