There are several reasons to buy solar panels for your home. First, if your home is a good candidate for solar, it’s an obvious choice from an economic standpoint (click here for your numbers). Also, since you’re using less electricity from your power company, you’re lowering your carbon footprint. And solar panels can power your home when the power goes out. As for the economics? Let’s take a look.
The Sun
The first thing to consider is whether you have a suitable roof for solar panels. If your roof is shaded by buildings, mountains, or trees you can’t trim, this idea is probably not worth pursuing. You need a place where solar panels can get a lot of direct sunlight for this project to eventually break even.
Roof pitch and direction is also important. The best circumstance is having a large roof area that angles toward the equator, because that’s where the sun usually is. Your geographic location is a factor as well. Homes in Hawaii get a lot more sunlight than homes in Alaska, which spend winter months in darkness.
Upfront Costs
Buying solar panels and having them professionally installed is not considered cheap. You also need to consider whether you want to buy a battery. The ability to store energy for later use is a great benefit, but adds to your starting cost. Other costs include labor for installation, plus additional hardware needed to maintain and monitor your system. All told, the installation can cost $20,000 and higher. To get a good handle on your projected costs, use our Solar Calculator or call one of our experts (845-250-3737) who can take a look at your roof and electrical system, ask the right questions, and make suggestions that you probably wouldn’t know to consider.
Incentives
To encourage clean energy, the federal government has created a solar power incentive program. According to energy.gov, this incentive “provides a 30% federal tax credit (straight deduction off your income taxes). This credit applies to the cost of both the parts and labor of the installation. Many states have very favorable incentive programs as well.
Conclusion
Factoring in all these costs against the energy generated by an average size solar installation, you can expect to earn back your initial costs within 3-12 years. If you plan to move soon, no worries–homeowners are looking for homes with solar and studies show that home values increase, on average, 4.1% after installing solar.
At InfinityEnergy, we’re proud to have built a team of trained, in-house professionals devoted to bringing affordable and clean energy to the Northeast. We help homeowners save money each month, with the best solar energy system available while making a better tomorrow for us all. And with our advanced in-home monitoring controls, A+ warranty, and exceptional service, our customers know they’re getting the best in the industry. Based in Mahwah, New Jersey we service Northern New Jersey, Hudson Valley, NY and Connecticut. Feel free to get in touch with your questions or contact us for your free quote!
