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.
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When you make improvements to your home, it’s smart to take into consideration how they will impact your home’s value. The conventional wisdom from HGTV and home improvement magazines is that updating your kitchen, renovating your bathroom, or building an addition are the smartest ways to increase the value of your property. But there’s another home improvement that you may not realize adds to your property’s value: installing a solar energy system on your roof.
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Solar is a trendy thing in 2020 and many adventurous homeowners are beginning to wonder about “DIY solar panels” – the concept of building a solar panel system by yourself. Of course, there’s a lot involved in a solar installation and there’s a right and a wrong scenario for do-it-yourself solar projects.
Going solar has major financial benefits: it reduces your monthly electricity costs and can even increase the value of your home. Incentives like the federal tax credit for solar can reduce your net cost by 26 percent or more, but solar is still a big investment, and the price tag can result in sticker shock. To save money, it’s no surprise that many homeowners are considering DIY. Below, we break down the top pros and cons that you need to know about do it yourself solar energy before making a decision as well as the DIY solar process.
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Solar offers more than just an opportunity to reduce your carbon footprint. When you install solar panels on your roof, you are a step closer to taking your electricity production and consumption into your own hands. One of the biggest decisions solar shoppers have to make is whether to install a standard grid-tied solar energy system, a solar battery backup, or a hybrid solar system. Here’s everything that you should keep in mind when you’re comparing hybrid solar panels to typical grid-connection or off-grid options
The financial benefits of going solar are now well documented. Solar panel systems actually function as investments with strong rates of return, and homeowners generating solar electricity can avoid paying increased utility rates by eliminating their electricity bills. According to a 2015 report by the Lawrence Berkeley National Laboratory, installing solar panels on your home can even increase your property values. If you’re reviewing multiple quotes, there are plenty of metrics that can help you make a decision about which solar option is best for you, but studies show most solar shoppers rely on one metric in particular: the solar panel payback period or break-even point.
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Installing a renewable energy system on your property is one of the best ways to save money on your electricity bills while reducing your impact on the environment. Often, your decision will be between solar energy and wind energy. If you’re a homeowner weighing your renewable energy options, you already know that thorough research is the best way to find the right system for your home. Here’s everything you need to know about the benefits of residential wind vs. solar so that you can make your decision with confidence.
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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.
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In 1994, only 10% of Americans had a cell phone. And yet, in 15 short years, more Americans had cell phones than landlines. While the rapid adoption of mobile phones can’t be attributed to a single factor, there is one major parallel between the transition from landlines to smart phones and what’s actively happening today in the electricity industry: the transition from a centralized system to a distributed (or decentralized) network.
One of the most common questions we hear from homeowners considering a solar panel installation is “how long do solar panels last?” It’s hard to understand the upfront cost of going solar without knowing how long you can expect your rooftop panels to produce ample energy. Your solar panels will be able to offset your electricity use for decades, but it is also important to understand industry projections and degradation rates.
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Establishing a secure financial future for your retirement requires that you explore a variety of options, but most homeowners don’t realize that installing a solar panel system can be one of the smartest retirement investment options available. By viewing a home solar panel system as an investment opportunity, homeowners can reduce or even eliminate their electricity bills, freeing up more than $1,000 in cash each year. With the increased availability of $0-down solar loans, homeowners that lack the cash required for an upfront purchase can still take advantage of solar as a retirement investment strategy.
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