If you have recently been considering solar panel installation for your home, you are not alone. Solar panels are becoming more popular today than ever, and this is primarily because they are now more affordable than they used to be. If installing solar panels is something you would possibly like to do, you may have the following three questions.
How Affordable Are They?
Years ago, purchasing solar panels for your home was not very affordable at all, and this is one of the primary reasons many homeowners chose not to get them. According to one source, the cost of solar panels dropped by 60% from the year 2011 to 2014. Since then, the cost may have dropped even more.
In addition, today there are many companies that offer solar panels that also offer leasing options. A solar purchase power agreement (PPA) is something that allows customers to purchase solar panels and pay as they go. These agreements eliminate the need for customers to save up for this purchase or find other ways to finance it. This option has made it a lot easier for more homeowners to have solar panels installed.
There are also plans available that allow you to rent the systems instead. With these plans, you will obtain the benefits of having a solar panel system, without the worries of maintaining it or paying for the system in full. Instead, you will just pay a fee for renting the panels. The company you rent from will handle everything else for you.
How Beneficial Are They?
When you have solar panels, you can save a lot of money on electricity costs. Electricity costs tend to rise each year, and solar panels are great because they produce electricity for you. Solar panels naturally convert sunlight into electricity, and you might be able to produce enough electricity to power your entire house all the time. If so, you would no longer have an electricity bill.
If you want to power your house all the time with solar panels, you will need to make sure you have a battery system. This is necessary simply because solar panels can only produce electricity when the sun is out. Because the sun is not out at night, your system will not be producing any electricity. With a battery system, you can save the electricity produced during the day to power your home at night when the system is not producing any electricity.
A solar panel installation company can help you determine how much money you would save per month with a system. You can then see how long it would take to recover the money you have to spend on it. In most cases, homeowners are able to recover their investments in just five to 10 years.
What Incentives Are Available?
There are currently a lot of different tax incentives available for homeowner that install solar panel systems; however, some of these credits will be reduced after the year 2019. If you want to reap the most benefits, you should install your system before this point. The Federal government offers tax credits as a way to encourage people to save the environment. Electricity is one of the best sources of energy to produce in terms of environmental factors, and it is a source that this world will never run out of.
If you are not sure if solar panels are right for your home, you should contact a company that offers them. They can offer more details and information about solar panel systems, and this is a great way to determine what you should do.