If you want to install a solar energy system on your property, one of the first questions you’ve probably asked is, “How will I pay for it?” There are many financing options available today for homeowners who want to enjoy the benefits of solar. In many areas, an increasingly popular option for home energy improvements like solar is property assessed clean energy (PACE) financing.
Every solar company has a variation of the same sales pitch, “did you know going solar can save thousands of dollars?” They make it sound so easy, but the truth is, whether solar is a smart long-term investment for you depends on a few major factors. So before you buy into the hype, we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money.
Update: a new section was added at the bottom of this article in September 2018 to show the tariff’s impact on residential solar prices
We’ve been receiving lots of questions about the new solar tariff from shoppers on the EnergySage Solar Marketplace. Here’s the bottom line for homeowners: this tariff will increase the cost of a typical home solar installation by $500 to $1,000. The good news is that comparison-shopping on EnergySage can save you between $1,500 and $3,000. For commercial customers, the savings could be even higher (more on that later.)
While the most expensive part of going solar is paying for the equipment, it still only represents 25 percent of the overall expense. Soft costs, or the outlays that installers spend just trying to find you and appeal to you, also contribute a significant percentage. Here’s a breakdown so that you can understand the cost of a solar panel system, plus tips on how you can save money!
Over the past few years, solar panels have gone from a rare sighting to a common occurrence on rooftops across America. Thanks to the financial and environmental benefits of installing solar panels, this renewable energy technology shows no signs of slowing down. Here are five facts you may not know about going solar.
Solar energy is a win-win: in addition to its significant financial benefits, going solar is also great for the environment. When your solar panels generate electricity, they produce zero emissions, which means they don’t contribute to climate change or health issues like more traditional sources of energy. They also draw their energy from the sun, an abundant resource that will be available and accessible across the world for the foreseeable future. All that said, what you may not realize is that there is actually an environmental impact of solar energy too.
Newer, more efficient solar panels and inverters have been in the news recently, but advancements in solar technology aren’t limited to standard equipment. Energy storage is also moving closer to mass-market adoption, and more installers are offering solar batteries and solar panel battery banks (a.k.a. solar-plus-storage) as an option for homeowners.
Solar-plus-storage systems include a battery that captures and stores the excess solar energy generated by the PV system, opening up the possibility of going “off the grid” – a tempting proposition for homeowners who want to sever their connection with utility companies by using renewable energy. As solar batteries become cheaper and more accessible for homeowners, more people are wondering, “Can I use solar batteries to go off the grid with my solar panel system?”
Solar panels and electric cars are a match made in heaven – when you install a solar energy system on your home, you can use it to both power your home and charge your electric car for emissions-free transportation. The cost of solar is falling rapidly, and companies from Tesla to Nissan are manufacturing electric cars for your daily use. Now, the ability to install a solar PV system large enough to power both your home and your car is an option within reach. But even with incentives and rebates available for both technologies, most homeowners still can’t afford to install solar and buy an electric car at the same time. Luckily, it’s easy to install a solar energy system today that takes your future electricity consumption into account, if you take a few additional factors into consideration.
When you install solar panels, your home produces its own clean, zero-emissions electricity. If you’re DIY-minded, you can build your own solar power system. In some cases, you can even build your own solar panels, although the amount that you can effectively DIY home solar depends on how much you want to power.
Reducing your carbon footprint and simultaneously saving money is easier than ever with the growth of energy-saving technologies. From LED light bulbs to devices that monitor your appliances to solar panel systems, there are many opportunities to put smart technologies to work saving you energy around your home and lowering your environmental impact each day.