You may have considered installing solar panels in the past, but at the time, it may have seemed too expensive and the technology too unreliable to be worthwhile.
Here are just a few questions you may want to consider asking an expert from a local solar company to see if you should re-consider solar generated energy.
- Should I wait for the price to drop further?
There are two main components to the cost of solar, the first is the cost of the equipment itself and the second is the cost of labor. The cost of the equipment has dropped sharply over the past few years, although in the last couple of years, this drop has been far less dramatic while the cost of labor remains largely the same. Another issue to consider is that the once vast pool of Federal and State tax incentives/credits, is now steadily shrinking. An expert from your local solar company will be able to help you work through the math for all of the above to help you decide if the current costs, available incentives/credits and payback over time, justifies an investment in a solar panel system.
- Leasing vs Purchasing?
In the past, leasing had been extremely popular given the low upfront costs involved. If, however, you are thinking about adding some value to your home to be realized in a future sale, you may want to consider, that although having leased solar panels might not necessarily negatively impact the value of your home, it might make it more difficult to sell, than if you owned the system outright. Owning the solar panel system could increase the selling price of a home and reduce the number of days on the market given the heightened concern for our unique environment here in the Town of Cortlandt and the relatively high cooling and heating costs. While that increase in value alone may not be enough to offset the actual cost of purchasing and installing the solar panel system, it may still be worth considering, if the purchase can be financed through a lender who understands the value that this technology adds and, can offer products that may nevertheless make the investment worthwhile. This is especially true if you consider that the actual payback may more likely take the form of drastically reduced energy bills.
- Is the technology truly reliable?
The technology is in fact incredibly reliable.
Nothing in how your home operates will change. There may however, be instances when a general power failure on the grid necessitates the shut-down of the solar panel system in a home. Again, an expert from your local solar panel company can explain this in more detail and how these situations can be mitigated.
Don’t hesitate to speak to an expert about your particular concerns and questions. You may find that you and your home are better candidates for solar generated power than you thought.