Installing solar panels in your home can prove to be a worthy investment in the long run. It not only saves your energy bills, but also can be the most eco-friendly way to generate electricity.
Why to go for Solar Power?
It is probably a high time to consider several options for your home that can be beneficial to you. After all, capturing free and natural sunlight and converting it into electricity sounds the best idea, isn’t it?
Apart from the cost savings that it offers, it also reduces the use of natural resources at the same time. Many people still considers solar power systems as an expensive option, but the scenario has greatly changed now with people switching to solar power systems for their energy needs.
Great benefits of going Solar
The price of the solar panel systems has dropped greatly. The leading solar panels manufacturer companies have started offering it at reasonable prices.
Moreover, with many new solar loans and leasing plans offered by veteran owned solar company, you don’t need to have the cash up-front to switch to solar. You can easily rent the solar panel system and can still save on your electricity bills or even get a loan that enables you to own the entire system with generally no installation costs.
In many cases, solar power system can eliminate the entire electric bill after the installation, system as well as the maintenance costs. In other cases, the solar panels can even simply cut the utility bill by around 10-50 percent. However, your savings would greatly depend on your system as well as how your home is actually set up.
Paying for Solar Panels
So finally, if you have decided to go for solar panels, you should also consider well its paying options. There are some great financing options that are available to you.
If you opt for a loan to buy the system, it will generally take longer to recover your investment than paying up front. However, you will still be able to reduce your energy bills by about 40-60%. Ultimately you would be able to enhance the property value of your home.
When it comes to leasing a system, you need to pay a pre-decided fix amount every month for using the solar system. You will get a fixed amount of the electricity in return. It will usually be 10-20% less than the current utility costs.
Many of the leases may include maintenance of overall system, but you won’t get any kind of tax breaks since you won’t be the owner of the system. Another financing option is PPA (Power Purchase Agreement). In this option, you just pay the amount of the electricity that you use.
It is much like the same way as with your utility company. It is just another type of contract that sounds like a lease but the amount of electricity that you will pay for may vary depending on the season.
To wrap up, getting some quotes from the installers before making a final choice can be a good option to end up making a wise choice. Remember to look for qualified and certified installers along with asking about the maintenance as well as the warrantees of the system.