6 Things You Need to Know When Switching to Solar
With the constant rise in electricity costs and decreasing prices for having solar panels installed, it’s no surprise that homeowners are “going solar” in record numbers.
If you’ve thought about a solar installation for your home, here are a few things to know before getting the ball rolling.
- Remember, it’s an investment
With all the talk about how much cheaper solar energy is to procure than electricity, some homeowners have the idea that all they have to do is install some solar panels and watch their net worth rise. But like with any sound investment, a solar conversion pays off over time, not all at once. Solar panels commonly last 20 to 25 years, and the payback is gradual but significant in the long run. The financing options you select will also affect payback to a greater or lesser degree.
- The changing sun
A solar system works optimally when it has long, daily periods of constant sun. This may not be possible every day of the year. Your home’s solar output will be affected on cloudy days and during shorter winter days. Have realistic expectations in this area.
- Lease or buy?
While lease options are popular among some homeowners, financing a new solar system makes better sense for many. Yes, there will be a down payment (unlike with leasing), but you’ll be working toward ownership and all of its benefits. Additionally, as an owner, you’ll qualify for the 30% solar Investment Tax Credit, which is very advantageous. Do your homework and decide which option is best for you.
- Work with a reputable installer
The company who does your solar installation should be able to share with you all the available financial incentives involved in solar conversion. A reputable solar company will help you understand the benefits and drawbacks to any incentives. You should also do your own research and know the “lay of the land” before speaking with an installer. There are many perks for homeowners converting to solar, but you can’t benefit from them if you don’t understand them.
- Get several quotes
Any time you spend a sizeable amount of money, you should do a little shopping. Talk with a few installers and watch how they go about the process of evaluating your property for an installation. Check references, talk to friends, see what the Better Business Bureau has to say about your candidates. Price isn’t necessarily the key factor here. What you want is an installer you can trust, who knows the process inside and out and will back up the quality of the work.
- Don’t put it off
If you want solar, start taking the steps to get it. Waiting too long can disqualify you from certain financial incentives that have a timeline and keep you in the cycle of continually rising electricity prices with escalation rates of 3 percent, on average, and as high as 5 percent in some areas. You never should rush into a decision, but neither should you put off something that might end up costing you more for waiting.
Burlington Fireplace & Solar of Wisconsin is here to answer your questions about solar financing options, provide complete estimates for a new solar system and perform the installation to the highest standards in the industry. Take a proactive step and call (262) 763-3522 and get the information you need.