Are You Sure You're Ready for Solar Panels? 3 Important Questions

Solar panels are an excellent solution to save money for any home, but you'll need substantial savings and resources to make sure you achieve everything that you need before contacting a trusted solar panel installation team. Here are three questions to help you get started.

Is My Electricity Bill High?

It's beneficial for anyone with a home that has high energy consumption to use solar panels. Unfortunately, homes with lower energy consumption won't really get their ROI as fast as homes that use higher energy consumption regularly. However, if you want to substantially erase your electricity bill from your budget, then we highly recommend going solar.

Can I Finance My Panels?

Many manufacturers and hardware suppliers offer excellent solar panel solutions for all your needs. Financing may seem costly at first, but if time is much more your priority in saving with solar panels, it's a great option for any homeowner.

How Much Money Will I Save With Solar Panels?

On average, you can save as much as 90% on the entire property's energy consumption. Of course, this depends on the energy your property consumes. If you consume a huge amount of energy regularly, solar panels are an excellent solution for your property.

With a full understanding of whether you can benefit from having solar panel installations, here are a few more questions that you will want to answer according to Blue Raven Solar.

How much does solar cost?

Outside of PPA and lease deals, a new solar system that offsets 100 percent of the average American household energy usage will typically cost around $22,000. However, the cost is directly affected by how much energy your home uses, which means your home could need a system that costs well above or below that price. Therefore, it is difficult to estimate the cost of a system without proper information. Most solar companies can build out an accurate estimate of how much your system will cost by using your last six months of energy bills and a sun tracking software to determine the necessary size of your system to generate 100 percent of your power usage. With that said, you don’t have to purchase a system that offsets 100 percent of your energy bill. Although it is recommended, you can easily customize your solar system to produce anywhere from 25 percent to 100 percent of your electricity bill. The price of solar can also be affected by the provider.

How much money will I save with solar?

It’s hard to be happy with the price of solar if you’re unable to determine how much it will allow you to save. Luckily, solar companies always calculate how much a homeowner can save by going solar. Your savings are determined by several factors. Firstly, if you decide to own your system, you are entitled to the federal solar tax credit. The ITC allows you to take 26% of the total cost of your system and apply it as a tax credit in the following year. So, if you purchase a $20,000 system, you’ll be able to take $5,200 off your taxes the next year. Another factor that influences your savings is how you finance your system. A lease or PPA deal will only allow homeowners to save a couple bucks a month, while a cash purchased system will usually put 100% of your power bill back into your pocket. If you purchase your panels with a loan, the loan payment would ideally be lower than your monthly power bill, allowing for automatic monthly savings. All in all, after ownership, the typical system on an optimal home will pay itself off in 6-8 years. (Continue reading here to learn more.)

If you need the best solar panel installation team in Golden, CO, you can always count on us at Roper Roofing & Solar. Contact us today to learn more about everything that we can do for you.