From reducing your carbon footprints to helping you save money on utility bills, the impeccable benefits of installing solar panels are certainly appealing for homeowners. It even helps you increase the value of your residential property to a great extent.
While transitioning to solar power is usually beneficial for most people, there are certain factors like home location, roof styles, and many more that hinder the energy-generation capacity of your solar panels, which helps you assess how much you should ideally spend on the system.
Although the first thing you need to do is find an authoritative solar panel company, make sure you keep these five factors in mind while installing solar panels at your home to estimate the savings potential and energy generation from the system.
1. Your Home’s Location
It’s a no-brainer that the more your solar panels are exposed to sunlight, the more energy they’ll be able to produce. That’s why the geographical location of your home plays a major role in determining the efficiency of your solar power panels.
If your house is located in the south or southwest regions, your panels may produce more energy as compared to someone living in the north or Pacific Northwest. Although cloudy states can also benefit from solar panels, you might have to install additional panels to produce sufficient energy.
In addition to the geographical preferences, the orientation of your home may also hinder the energy-generation capacity of your solar panels. For homes above the equator, the south, southeast, and southwest-facing properties will be able to produce the most energy.
On the other hand, homes that face north direction may show certain levels of inefficiency. To maximize your energy production, make sure there are no tall objects such as satellite dishes or trees that mask your solar panels.
2. Roof Condition, Layout, and Material
The best thing about solar panels is that they’re very durable. A quality system purchased from an authentic solar panel company can easily last for thirty years or even more. However, you must make sure that your roofs are also in excellent condition.
As asphalt roofs usually last for around twenty years, you may encounter a situation when you need to make some repairs or replace the roof. However, when solar panels are installed, it can be pretty costly to remove and reinstall the panels for roof work.
Therefore, make sure you get such things done before installing solar panels. Additionally, you also need to keep your roof’s material, layout, and direction in mind. Some companies may ask you for additional fees to install panels on flat, ceramic, or concrete roofs.
You’ll also need to make sure that your roof has sufficient space without any obstructions to install the panels, which may depend upon the number and types of solar panels you choose to install as per your preferences.
3. Preferred Panel Options
When it comes to solar panels, you can choose from varying panels like roof-mounted panels and ground-mounted panels. While the former is the most common and popular choice out there, the latter also provides some unparalleled benefits that make them an appealing option.
Ground-mounted solar panels can be installed anywhere on your residential property, regardless of whether your roof is facing north or not. They’re also ideal for roofs with less space but may cost you higher as compared to roof-mounted roofs because they require more materials and labour.
You can also choose to mount your panels through a tracker, which allows the panels to relocate as per the sunlight. This allows you to produce more power as the panels are constantly in the exposure to the sun. However, such kind of installation may be very expensive.
There are several different types of solar panels available with varying placement options for you to choose from. Before installing solar panels, make sure you ask the manufacturer about their efficiency to ensure higher returns.
You can also use solar shingles that can be laid down on your existing roof shingles. This not only makes adopting solar energy more affordable for you but also acts as a weatherproof protective roof shingle with a very discreet nature.
4. Available Financing Options
The expenses involved in installing solar power panels at your home depend on various factors such as the actual size of the system, preferred type of panel, the company, and a lot more, but it is certainly not cheap.
While making complete payment upfront is a preferable option, you might not have thousands of dollars available at your disposal. In such cases, opting in for a solar loan is a much more convenient option.
These loans require you to pay a small down payment initially and cover up the remainder progressively every month. Alternatively, if you can’t qualify for a loan, you can even choose to lease a solar power setup.
This will require you to pay a small rental fee to the company that owns the panels and uses them as per your preferences. You can also sign up for a power-purchase agreement that helps you purchase energy at discounted rates from the company that installs and manages the panels on your property.
Using the aforementioned ways will surely help you save money on utility bills and get your panels managed by experts. However, you won’t be able to enjoy rebates or tax credits through the finance options listed above.
5. Tax Credits or Rebate Eligibility
Tax credits and rebates can considerably reduce the expenses you incur during solar panels installation. However, keep in mind that to be eligible for such benefits, you may need to purchase your system from a particular solar panel company or finish paperwork within a defined timeframe.
Make sure you thoroughly review the federal and state options at the earliest to determine how much money you can save. One of the biggest tax-saving opportunities available for you is the Federal Residential Renewable Energy Tax Credit.
It offers 30% of the qualified expenses you incur for the system. Various other states offer incentives that you can choose from. You can also ask your preferred manufacturer for information on state rebates to maximize your savings.
Read More: How Can Solar Energy Be Utilised at Home?
As you search for the best solar panels available in the market, make sure you keep the tips stated above in mind to enjoy a hassle-free installation and make the most benefit out of the setup. Certain aspects affect your panel’s energy-generation capacity as stated above.
Once you’ve determined whether solar panels fit the bill for your home or not, the next thing you need to do is search for a good solar panel company and gain price estimates from multiple providers and make the most cost-effective decision.
Additionally, make sure you don’t forget about tax rebates as they contribute significantly to your savings. With so many options and preferences available, you’re only a few steps away from shifting to a sustainable source of energy.
If you’re looking to purchase high-quality solar panels for your home, make sure you check out livguard.com.