Solar Panel Installation In Your Home: Is Solar A Good Investment 4 You?

What are the benefits of installing solar panels? || Solar Panel Installation

The process of having solar panels installed is similar to the install for a natural gas home heating system. There are a lot of similarities, but the solar panel installation is still a big deal. There are still steps that need to be taken. Solar has the ability to reduce your energy costs. Some people see it as a big benefit to make the switch to solar and save money on energy costs. For people with a standard mortgage, paying for solar panels might not be such a big deal. But it is a big deal for people who live in a low-income or fixed income housing that does not allow for a solar installation on their home.

You’ll need to first look at alternative methods for staying within your mortgage payment. For example, you could get a special loan to install solar panels.

What are the drawbacks of installing solar panels? || Solar Panel Installation

Battery storage is key with a solar energy system. We’re not just talking about a battery to charge your smartphone, either. Nowadays, more people are considering having a battery bank to use during cloudy days and evenings and to power a home in case of a power outage. If you have a short fuse (and we mean short), having a battery bank installed is a very good idea.

The battery bank system costs roughly $5,000 or $10,000 depending on the size of the home battery bank, installation, and the type of battery bank being purchased. You also need to be realistic about your options for installing solar panels on your home. In order to reduce your electric bill, you need to choose a system that’s best for your home’s location and sun exposure.

How much does it cost to install solar panels? || Solar Panel Installation

Solar Panel System Size	Cost in Rs
1kW	7,000
2kW	14,000
3kW	21,000
4kW	28,000
5kW	35,000
6kW	42,000
7kW	49,000
8kW	56,000
9kW	63,000
10kW	70,000

One of the greatest factors for solar installation is the price of the solar panels themselves. So, where do you start? One of the first things you want to consider is how much you’re willing to pay. Then, the next step is how much you want to save on your energy costs. Solar panels are almost never the cheapest option. This is where you have to find out how much you’re willing to spend and then calculate what savings you’re expecting. Solar is expensive As you can imagine, installing a solar panel system on your roof is not cheap.

At the lower end, a basic, rooftop installation will run around $22,000 and upwards to $60,000 or more. It’s often assumed that solar is the cheapest option, but this is not true. The panels themselves are about 30% of the entire installation.

When is the best time to buy solar panels? || Solar Panel Installation

Solar installations are time sensitive and many companies close up shop the week after the season ends. For example, over the course of a busy summer, one of the hardest things to predict is when the sun will shine. Solar panels can only generate electricity when the sun shines so figuring out the right time to schedule a system installation takes careful consideration. If you can schedule an installation in early December, you’ll get the solar power for about half the year’s worth of electric bills.

If you can’t get it done before the end of the year, it’s time to look at purchasing your panels before the ITC is phased out. The financial savings get even better. Through the end of 2019, you can claim a $0 on your taxes for the next 8 years. The ITC goes away and the incentive disappears.

Conclusion || Solar Panel Installation

Overall, investing in solar power is a no-brainer. It is a secure, renewable, clean energy source that emits no CO2. For many, the main deterrent to solar is cost. The good news is that it is gradually declining and it is much more affordable to install than ever before. Solar is still a complicated system, however, so make sure to have someone who knows what they are doing in your home. With the right plan and the right installation company, it is an investment that can bring you years of peace of mind.