If you’ve been looking to get on the latest energy-efficient home trends, but you’ve got some questions, this is where you should start.
Solar panels for your home or green building are the best way to get the most bang for your buck while fighting climate change.
This article will answer your most pressing questions, like whether or not your home qualifies for solar power and how much you can expect to pay for the installment of your new panels. Let’s get started!
Do You Qualify for Home Solar Power?
How do you know if you even qualify for solar power? There are a few factors to consider.
Luckily, the sun shines everywhere — to what degree and whether or not you have a clear shot of those golden rays, depends.
The weather in your area and other structural factors will ultimately decide if solar is a good option for your home. These are a few things to look for:
- Do you have a south-facing rooftop or spot on your property?
- Is the shade minimal?
- Do you have options for unobstructed surface area on your roof or another spot on the property?
The best way to determine if your home qualifies for solar power is to have a professional come out and assess the area. You can also use Google’s Project Sunroof to discover your solar savings potential.
What Is the Average Cost of Home Solar Panels?
What is the average cost of solar panels for a home? Using solar power isn’t only environmentally friendly, it’s financially friendly too. But it takes an initial investment in order to reap the tax and energy-saving rewards.
Solar panel systems aren’t all created equal; they vary in efficiency and size. The price per watt and system size will ultimately determine the expected cost of installing your solar panels.
So you’ll want to consider the amount of energy your household will actually use. This way you won’t purchase a solar system too large or too small.
Although your costs will vary, the average cost of installing home solar panels will be around $3 per watt, adding up to about $20,000.
That number might seem like a lot. But there are a few financing options to consider:
- Purchase: Buying your solar panels outright
- Loan: Paying for your solar panels over time
- Solar Power Purchase Agreement: The solar provider owns your panels, and you pay a low monthly rate for the electricity the panels on your roof produce
- Lease: You pay a monthly lease amount based on the expected yearly production of your panels.
Your first two options will be costly upfront, but will qualify you for a federal tax credit and possibly state and local incentives.
The PPA and lease options are great if you don’t have the upfront funds to purchase solar panels but still want the benefits of lowering your monthly utility bills.
The initial cost of installing solar panels for your home can seem outrageous. But the savings add up over time, and solar panels aren’t just another impulse buy; they’re a solid investment.
As you now know, the initial cost of solar power for your home can seem high, but there are different ways people have found to go about acquiring their solar panels. Take a look at our blog for more sustainable home trends.