Installing Solar Power Panels Are Worth Your Time And Investment

When we think about installing solar panels, the first thing we think about is the various costs that will go in installing your solar panel. Thinking about such costs, you might be a bit skeptical into investing onto solar panels, thinking whether it will fit your budget or not.

The Best Time to Install Solar Panels

The cost of solar panels can vary a bit depending on a number of factors. First and foremost, you need to consider the space that your solar panel will occupy upon installation.

If you thought that purchasing a solar panel would be easy, then you are sadly mistaken. Unfortunately solar panels do not come with a ‘one size fits all’ feature. Below are some of the factors that determine the cost of your solar panels:

  • Rooftop size, layout and slope
  • How your home receives sunlight
  • Electrical demand for your home
  • Hardware required for solar panel mounting
  • Permits of your state

You might even want to look into the components that go into designing solar panels. The components comprise of:

  • Solar panels – These help to trap the sun energy and convert it into energy
  • Controller – This helps to prevent the batteries in the solar panel from overcharging
  • Battery – This helps in storing the solar energy making it feasible to use electricity at night when the sun is not shining
  • Inverter – Helps in converting the energy into AC electric power

Tax Rebates Effects Cost of Installation of Solar Panels

Another important factor that affects the cost of installation of your solar panel is the tax rebates pertaining to your state. This again depends on how much energy you use from the solar panels. By installing solar panels, you can save costs up to 40% on your electricity bills.

Depending on the place you live, some countries might even offer solar incentives in the form of tax credits or sales tax exemptions. If you live in and around Orange County, then you might want to know about the different Orange County solar tax rebates that might be applicable to your state.

Net metering also plays a crucial role in determining your solar panel costs. This is a billing system adopted by many countries. Here the countries offer credits to solar panel owners for the amount of electricity they add onto the grids.

Solar Leasing Options

If you find the costs of installing solar panels not feasible, you can always opt for solar leasing options. If you cannot afford to invest in a solar panel, you can effectively rent the necessary equipment from other third party solar financing companies.

Under the solar leasing option, you sign a solar power purchase agreement with the third party, wherein the third party financing company is liable for the design, financing and the installation of the solar panel in your home. You can either opt for payment through a prepaid or a monthly payment plan.

Conclusion

When you contact solar panel installation companies, they will cover over and examine your home. Based on their investigations, they might be able to give you the best quote for their solar panels.

Categories: Home Improvement