Renewable energy is a hot topic, and many people are looking to go green with solar panels at residences and commercial properties. The benefits of solar energy can be found in lower energy bills and a cleaner energy profile for your home or business. However, like any investment, it’s crucial to do your research before going solar.
#1 Will you be able to produce enough power in your location?
The first place to start is by asking whether solar panels are a good investment for your building. The amount of sunshine available limits the amount of energy you’ll be able to produce. Make sure you use a company that will come out and evaluate your property to identify the best solutions for you.
#2 Should I lease or buy?
If you’re looking to pay less up front, then leasing may be in your best interest. The leasing company will also be responsible for all of the maintenance on the panels. Over the long term, however, you will not save as much on your energy bill since you’ll have a monthly payment, and lease terms vary from 10 to 20 years. If you purchase the solar panels, there is a greater upfront cost, but you will see savings on your monthly utility bills and from the rebates and incentives that are available.
#3 What approvals do I need?
If you belong to a homeowners association, you will most likely need to get its approval for installation. A commercial property will also need approvals depending on zoning ordinances, insurance policies, and whether it is located in a conservation area. Be sure you understand what approvals, inspections, and paperwork you’ll need and whether you or your solar company will handle them for you.
#4 Physical Installation
It’s not as simple as tossing some panels on a roof. You’ll need to determine what type of panels your home requires and what type of mount would be best (roof, ground, or pole mounts). The type of materials you select and the size, shape, and style of your roof can impact your installation because the solar panels and attachments need to fit securely and be placed with good access to sunlight.
#5 How will it impact my utility bill?
Will you put energy back on the grid and receive a credit? Most states allow net energy metering (NEM), which allows homeowners who produce power to send it to the grid while the sun is out and take it back at night in the form of an energy credit.
#6 What are the tax incentives?
Federal tax credits and state incentives for renewable energy make solar more affordable.
#7 What is the warranty?
Not only do you want to select a reputable company to install your panels, but you also want to be sure your panels come with a reasonable warranty and that the manufacturer will be around to honor it. Look for products that have a 25 or 30-year warranty and reputable companies that are established and have solid financial portfolios, suggesting they will be around to take care of you in the event something happens to your panels.
#8 How long will the panels last?
Using a reputable company offering a long warranty is only part of the discussion when selecting solar panels. Solar panels are meant to last 20-30 years, but like most items, they degrade over time—about 0.5% per year. However, some solar panels, like thin-film panels, degrade faster than other types, like polycrystalline solar panels. Ask questions about the types of panels your installation company uses and make sure you are comfortable with the expected life of the panels.
#9 What if my panels are stolen or damaged?
The answer to this will vary, depending largely on whether you lease or own the panels. Generally, solar panels are low maintenance and trouble free other than occasional cleaning, but make sure you understand who handles any necessary repairs and maintenance. Also, double-check with your insurance company to make sure the panels are covered.
#10 Is solar a good investment for me?
The energy savings that solar panels create typically pays for the initial purchase cost in anywhere between 4 and 18 years, depending on location. If you own them, you also get the benefit of added home value.
Are you preparing for a new building project or custom home? Contact Pro-Line Building Company to find out how we can make your ideas a reality.
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