Is It Better To Own Or Rent Solar Panels
Solar leases provide much less in savings, and prevent you from taking advantage of many solar incentives. Unless you are not eligible for the federal solar tax credit and other local rebates, you do not have the upfront cash, or you do not qualify for a solar loan, its always better to buy your solar panels.
Can You Go Off
While it may be difficult to go completely off-grid with a Tesla Solar Roof, if you have enough Powerwalls, it is possible to reach a high level of self-sufficiency. Ultimately, whether or not you can go off-grid will depend on your initial Solar Roof and Powerwall investment, and how much energy you use throughout the year.
State & Local Incentives
The other perk here is that you can apply the 26% discount costs of your solar system after also taking any state-level rebates or incentives, meaning you can benefit from both federal and state incentives to help offset the costs of going solar. On a state level, most have an incentive program in the form of a tax credit, but it varies state-to-state. Many local cities and counties also offer direct rebates to help with the costs of solar panel systems and installation.
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Youre Not Eligible For Incentives And Rebates
When it comes to solar power, government incentives and rebates are extremely important.
The most important of these is the solar investment tax credit , which is offered by the federal government and has helped grow the solar industry by 10,000% since its enactment in 2006.
The ITC is currently worth 26% you can use it to save over a quarter of the price of your solar system. This incentive can play a huge role in improving the payback period of a solar system purchase.
Additional incentives are usually available at the state level, and sometimes at the local level, as well. Right now, 38 states offer net metering, a valuable incentive that allows you to sell your electricity to the utility company at retail rates, while some states, such as New York, offer state tax credits worth thousands of dollars.
But if youre in a situation where you dont qualify for incentives the federal tax credit, for instance, only applies if you pay federal taxes to begin with then solar energy may not be right for you.
Learn more: Find out which solar incentives and rebates you qualify for
Free Estimate For Roofing And Solar Installation
If youre ready to take the next step, or even if youre considering what it would take to get you there, contact us to discover all your options. Our solar specialists and roof contractors install solar and roofs across the United States.
Contact us today to see if we service your area, qualify for incentives like the solar federal tax credit and get free solar quotes for your particular needs.
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Do Solar Companies Pay For A New Roof
We also offer solar leasing. In some scenarios depending on available solar incentives we can sometimes subsidize the cost of adding a new roof before going solar. However its a case-by-case situation where most solar companies will only be able to subsidize the sections off roof where the panels will be attached. Having a solar company pay for your new roof is a great way to utilize the 26% Federal Solar Tax Credit! .
What Happens If I Need Roof Repairs Before Installing Solar Panels
A large factor when considering how much does a solar roof cost is first determining if you need a new roof before installation.
The last thing that any customer wants is to have a solar panel installation completed and then discover their roof is leaking shortly after that, potentially requiring solar panel removal. Here at Pink Energy, our experts will complete a full evaluation of roof before installation. If your roof is near the end of its useful life, we will recommend getting your roof replaced before solar is installed to minimize the risk of needing to remove solar panels in the future to do a repair.
Our goal is to help our customers be as educated and informed as possible. Our solar panels and our workmanship come with good warranties, so your investment is protected in the long run. Check with your sales representative for details about warranty policies.
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Cost To Remove And Reinstall Solar Panels
The most common reason people remove and reinstall solar panels is for roof repair and roof replacement. In either scenario, the average cost is $2,800 to $4,800 to remove the panels and reinstall and inspect the system. Occasionally, solar panels need to be removed for reasons other than roof replacement, such as relocating to a new home or repairing the racks or other inaccessible parts. If you are relocating your panels to a new home, you will have a transport cost with the removal and reinstallation of roughly $50 per panel. For 14 to 16 panels, this makes the total cost of $3,500 to $5,600.
If repairs need to be made to the panels, these are not included in the price of removal and reinstallation. If you plan on moving your panels, this must be stipulated at the sale time. Otherwise, the panels are considered part of the property.
Can A House Run On Solar Power Alone
Practically, it is not often possible. This is because solar only works when the sun is shiningwhen it is cloudy or nighttime, they do not generate electricity. There are some battery solutions to provide power during these times, but they still tend to be quite expensive. Most homes with solar panels still rely on the grid from time to time.
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Calculating Your Energy Production
The second factor you’ll need to consider in your calculations is the amount of energy your system will produce and when it will do that. This can be a very complicated calculation to make, even for experienced solar engineers. However, let’s run through the basics.
One of the most important considerations is the solar irradiation levels available in the home’s geographical location in other words, how sunny it is where you live. When it comes to using solar panels, being closer to the equator is generally better, but other factors must be considered. The National Renewable Energy Laboratory produces maps for the U.S. showing solar irradiation levels and the tools on its website provide detailed solar information for specific locations within the U.S.
Equally important is your home’s orientation: For rooftop arrays, a south-facing roof without trees or other objects obstructing sunlight maximizes the available solar energy. If this is not available, panels can be mounted on external supports and installed away from the house, incurring additional costs for the extra hardware and cables.
Reamortizing A Term Loan
During a term loan, depending on your loan provider, you can re amortize your loan one time for free. Pick My Solar recommends that once you receive your Tax Credit, you apply those savings towards re amortizing your loan. Reamortization will decrease your monthly payments for the rest of your loan term.
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Free Consultations And Estimates
Another great reason to consider hiring a solar panel installation company is if it offers free consultations and estimates. While most companies will offer a free estimate, not so many will actually provide free consultations. Finding a solar panel installation company that will meet with you and talk you through all the options shows that it is prioritizing its customers, so youll know youre in good hands.
Calculating Solar Power Costs
At this point, you will be in a position to make a final calculation, and an assessment of whether solar power makes sense for you.
The overall cost and benefit of a solar system can theoretically be evaluated using the discounted cash flow method. Outflows at the beginning of the project would consist of installation costs and inflows would arrive later in the form of offset electricity costs .
However, rather than using DCF, the viability of solar power is usually evaluated by calculating the levelized cost of electricity , then comparing it to the cost of electricity charged by the local utility. The LCOE for household solar will typically be calculated as cost/kilowatt-hour the same format commonly used on electricity bills. To approximate the LCOE, one can use the following equation:
LCOE = Net Present Value of the Lifetime Cost of Ownership / Lifetime Energy Output
The useful life of a PV solar module is generally assumed to be 25 to 40 years. The cost of ownership includes the maintenance costs, which must be discounted to find the NPV. The LCOE can then be compared to the cost of electricity from a utility remember, the relevant price is that which occurs during times at or near peak PV solar production.
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How Long Have You Been In Business
Solar panels were invented in 1954 and came out to the public in 1956. However, they were too expensive for most people to even consider. In the 1970s, prices came down enough to be practical, and thats when businesses started.
Ideally, youll find a manufacturer that has at least five years of experience. More is always better in this industry because that indicates theyre running a successful company and have a lot of satisfied customers.
How Much Does Solar Panel Installation Cost
An average combined cost for solar panel installation and the system itself can run, on average, $16,000, or between $5,000 and $35,000 depending on the type, model and more. This cost does not include any tax credits or other incentives or calculate the reduction in costs when you stop paying for electrical utilities.
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Type Of Solar Equipment Used
One final way to determine if a solar panel installation company is the right fit for you is to see what kind of solar equipment it uses. Many companies offer a variety of equipment from numerous manufacturers. Some companies will mix and match panels, inverters and other equipment from different manufacturers to save you money or because company technicians are knowledgeable about the best combinations of different manufacturers equipment. Companies also offer solar panels of different styles and designs, including some that are lower profile or designed for more extreme weather. Some companies, like Tesla, also offer solar roofing tiles.
Why Solar Leases Are Bad
Solar leases are a well-known financing option for accessing electricity bill savings with solar panels without the need to install solar. While they are genuine, solar leases offer several drawbacks foregone tax incentives, locked-in lease payments, and possible difficulties with selling your home. You should consider leasing solar panels only if you dont qualify for the federal tax credit.
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Let One Company Help With Your New Roof Plus Solar Panels
Yes, you can hire separate roofing and solar companies and manage things yourself. However, your best bet is to engage the services of one company to handle the new roof with solar panels at the same time.
Some roofing companies have a solar team but lack in-depth solar expertise and a dedicated solar panel installer. Some solar companies may also have a roofing team, but they’re often consultants, not installers. All these can result in poor coordination that leads to a delayed and overly complex installation process for your roof and panels.
When you choose Palmetto to install your custom photovoltaic system, our seamless, end-to-end approach will get you up and running as soon as possible. We work with experts that have the right experience installing a new roof plus solar energy panels for your home. Because we manage the relationship with the roofing team, you get a single point of contact for your professional roofing and solar installation, simplifying the process and making sure the work gets done right the first time.
Top 3 Concerns We Hear From Homeowners Regarding Providing Their Utility Bill
1. My utility account could be hacked.
Some homeowners are afraid to give us their utility bill because they think it could cause a security breach and they could get hacked. We can address this easily. First, this would be illegal, and no trustworthy solar company like ours would do this. Nonetheless, even if we wanted to hack into your account, it is virtually impossible. Your utility account number is only one part of your utility account. Without your password and answers to other security questions that would be required to access your account, there is very little chance anyone from our company could access it. Solar Energy World also has a strict privacy policy that does not allow us to share our customers information with anyone outside of our organization without first getting our customers permission.
However, if you are truly worried about this, all you need to do is to black out your account number on the bill, prior to providing it to us and no one from our company will see it.
2. If you know which utility company I use, and my approximate spend a month, why isnt that enough information?
It helps, but it is not the whole picture. Utility companies have differing service agreements, electricity rates and processes for net metering. When we create your estimate and cost-benefit analysis, we do not expect you to know all the regulatory details, but we should. Your utility bill gives us additional information that you may not be aware of.
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How Much Will You Save
Once you know how much a solar power system will cost upfront, and how much energy it will produce, you can predict how much you can save in energy costs per year.
This is another tricky calculation, however, because a lot depends on how you pay for electricity at the moment. Utilities often charge residential consumers a flat rate for electricity, regardless of the time of consumption. This means that instead of offsetting the expensive cost of peak electricity production, homeowners’ solar power systems merely offset the price they are charged for electricity, which is much closer to the average cost of power production.
However, many utility companies in the U.S. have introduced pricing schemes that allow homeowners to be charged at different rates throughout the day in an attempt to mirror the actual cost of electricity production at different times: This means higher rates in the afternoon and lower rates at night. A PV solar array may be very beneficial in areas where this sort of time-varying rate is used since the solar power produced would offset the most costly electricity.
Exactly how beneficial this is for a given homeowner depends on the exact timing and magnitude of the rate changes under such a plan. Similarly, utilities in some locations have pricing schemes that vary over different times of the year due to regular seasonal demand fluctuations. Those with higher rates during the summer make solar power more valuable.
Am I Eligible For A Roof Tax Deduction
This tax credit was extended through December 31, 2021 and you may take advantage of it even if you replaced your roof before 2020. If you were eligible and did not claim it on your return as far back as 2017, you can refile your return for the appropriate year to take advantage of the savings. Consult your tax professional to find out if refiling is right for you.
- This must be for your primary residence .
- This must not be for a new home or a rental.
- The roofs that are eligible are reflective asphalt or metal.
- Roof coatings are not eligible.
- You must have a copy of the Manufacturers Certification Statement to qualify
- More eligibility requirements can be found here.
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What Is Your Business Name Registered With The State
Some companies do business under a name other than their public-facing one. For example, the fast-food chain McDonalds is their public-facing name, while the actual company is known as the McDonalds Corporation. Having a different business name for dealing with the public is common, so its not a red flag if you see this.
Q: Are Solar Panels Really Free Or Is Free Solar A Scam
If youve been researching solar panel system, youve probably heard at least one company advertise free solar panels or seen ads that start with “U.S. Government Pays Middle Class Families to Go Solar” or “New Jersey will pay you to install solar” — These ads are typically lead capture scams to sell your information to solar leasing companies!
Here’s the deal: There is no such thing as a free lunch . Free solar panels are not actually free you will pay for the electricity that they produce, usually under a 20 to 25 year solar lease or power purchase agreement .
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C Manufacturing Solar Panels Is Very Toxic For The Environment
Common photovoltaic solar panels use silicon as their primary material for energy generation. They also contain copper wiring and casing made of metal and glass.
While it is true that there are environmental consequences associated with harvesting any of these materials, the overall environmental footprint of electricity generated from solar panels is significantly less than that of any other energy generation source.
