Solar energy is the wave of the future, and homeowners all over the country are joining in. Installing solar panels on your roof significantly reduces energy costs, allows you to claim tax credits and rebates, and reduces your environmental impact. However, if you’re considering buying solar panels for your home, there are a few things to look out for so you don’t make a poor investment.
Some solar companies want to keep you in the dark about the potential pitfalls involved with solar installations. Of Arizona’s residential solar panel contractors, Solar Solution AZ is the company you can rely on for honest answers and advice concerning your choice in solar panel installation. Call us at 520-858-0220 to learn more, or keep reading to learn about the six mistakes to avoid when buying solar panels.
1. Lowballing Your Energy Usage
When you meet with your solar contractor, they’ll want an estimate of your yearly energy consumption. Many homeowners give an unrealistically low estimate for one reason or another, and then their solar power system can’t sustain their energy requirements. If you use more energy than your solar panels can produce, your utility company may send you a steep bill at the end of the year.
2. Assuming Solar Panels Prevent Blackouts
Some people think, “Now that I have my own solar panels, my power will never go out!.” The truth is that most people have their solar system tied to the power grid. If your neighborhood loses power, your house will lose power too.
You can opt for an off-grid solar system that feeds energy to a battery bank, but those batteries will cut into your return on investment (ROI). The best option is a grid-tied system with a small backup battery for emergencies.
3. Leasing Solar Panels
People end up leasing their solar panels because the upfront cost is often significantly lower than purchasing them. However, your lease will have an interest rate, and in the end, you may wind up paying more than double the purchase price for something you’ll never own.
Homeowners who purchase solar panels can enjoy a 30% tax credit. If you lease the solar panels, the tax benefits will go to the third-party vendor instead. Leasing can also make it harder to sell your home since you’ll have to transfer the lease over to the buyer.
4. Poor Planning
Sometimes homeowners install solar panels without thinking of the future. If you’re going to have kids or buy more appliances, your energy needs will be higher. Buy the solar system you’ll need as life goes on, not the one you need right now.
When buying solar panels from a large provider with a lot of overhead, you may see more than a 200% markup on materials and equipment.
With Solar Solution AZ, you’ll know exactly what you’re paying for every step of the way.