According to a Clean Economy Research Institute study, every American household could save over $1,000 per year on their energy bills if they switched to solar.
What’s more, according to Bloomberg New Energy Finance, just about any homeowner in the U.S. could lock in cost savings from solar panel installations for at least 25 years by paying a little extra upfront. With that kind of ROI, it seems like now is as good a time as ever to switch to solar energy if you haven’t already. After all, why not take advantage of some of the best benefits of going green? Here’s everything you need to know before making the leap:
What is Solar Energy?
Solar energy is the conversion of sunlight into electricity. While this process is not new, it’s becoming increasingly popular with homeowners who want to reduce their carbon footprint and save money at the same time. Solar panels convert sunlight into electricity that power up your home in a more environmentally friendly way than traditional power sources.
In many cases, solar panels are installed on the roofs of homes and businesses. For those interested in setting up solar panels on their land or buildings, they can contact local installers for advice.
The Benefits of Going Solar
Obviously, the biggest benefits of going solar are the savings you’ll see on your energy bill. However, you should also consider that switching to solar will lower your carbon footprint, which means you’ll be helping the environment by going green.
If you go solar, you can benefit from zero out-of-pocket costs for installation. That’s right, no money upfront and no extra costs associated with installation.
The next reason why it pays to switch to solar is that as time goes on, theoretically at least, your investment in solar energy will pay for itself. As technology improves and more efficient panels come out, the price of solar energy is likely to drop even more.
The final benefit is that you can take advantage of federal tax credits and state subsidies when going solar if you choose to do so. To get these subsidies and tax credits, you have to stay within a certain amount of green power usage relative to your electricity bill each year.
How Much Does a Solar Panel System Cost?
A smaller solar panel system will start anywhere from $5,000 – $10,000 depending on the size and complexity of your setup. The prices will go up from there depending on how big of a system you need and how much energy you’ll be using. Use our free solar panel pricing calculator if you’d like a better idea of what your solar panel system might cost.
Some people opt to DIY their solar panel installation and pay less overall, while others hire professionals to install it for them. If you’re pretty handy, you may be able to get the job done without a pro, but typically we suggest hiring a professional solar panel installer.
Either way, the installation process is fairly easy and straightforward. It might take a few days or weeks depending on how much time you have to spare. For most homeowners, the cost of the panels themselves will be covered by tax credits and subsidies.
Types of Solar Energy Systems
Solar energy can take the form of a rooftop solar system, a ground-mounted system, or a hybrid rooftop/ground-mounted system. All types of solar systems require panels, inverters, and other hardware.
Rooftop solar systems are usually installed on residential homes and commercial buildings. They provide more capacity for power generation than ground-mounted systems because they have bigger surface area. But because they are installed at the roof level, they also require that the home or building owner makes modifications to their property.
Ground-mounted systems are typically installed in open areas like fields or parking lots that don’t require too many changes to the landscape. However, unlike rooftop systems, they do not get as much sunlight exposure and thus produce less power output.
Hybrid systems combine features of both roof and ground-mounted systems by installing panels on the roof while using a ground-mounted system to store excess energy generated by the roof during periods when there is not enough sun exposure to make it worthwhile to install an entire ground-mounted system.
How To Save Money With A Solar Roof
Solar power is a great way to save money. But if you’re looking for the most cost-effective method, you should consider getting a solar roof. With a solar roof, you’ll get all of the benefits of solar energy but with the added benefit of not having to worry about rooftop installation costs. With these panels mounted on your roof, you only pay for what you use and nothing more.
For homeowners in certain states (such as New York), installing a solar panel system may actually be cheaper than buying electricity from utility companies–but that doesn’t mean the upfront costs are any less expensive. In fact, it may be just as costly to buy your own system as it is to buy electricity from utilities! Although there is some cost involved with a solar panel system, it’s much less than going through the process of signing up with an energy provider–and you can still lock in savings by paying little extra now and nothing later.
Some states require homeowners to install one or two systems at their home if they want to take advantage of tax credits available for renewable energy–so make sure you take that into account before making your decision.
If this sounds like too much work for you, then don’t worry: One option is renting out your roof space to someone else who wants to go green and avoid the hassle themselves. You’ll still get all of the benefits of using solar power without having to put in any hard work yourself!
How to Save Money with Solar Panels on your Home
The biggest challenge of going solar is the initial cost. But there are ways to offset these costs, such as making a cash investment and recouping your money through tax credits or rebates, or by selling the excess power you generate back to the grid.
As for what it takes to go solar, you’ll need solar panels and a mounting system to install on your roof.
Solar panels are typically installed on rooftops of homes, commercial buildings, and manufacturing facilities that have unused roofs. They usually face east or west and can provide up to 80 percent of a building’s electricity needs.
You can also save money by using renewable energy credits (RECs) or green tags in place of upfront payments. These green tags represent one REC for every kilowatt-hour of energy generated during the month. You get paid for every REC after your first month of production at $25 per ton that you sell back to the grid in order to offset your upfront costs. It just goes to show how much opportunity there is when it comes to saving money with solar!
How to Save Money with a DIY Solar Panel System
If you’ve always wanted to live a greener lifestyle, but don’t know where to start, building a solar panel installation might be the answer. Homeowners can build an affordable and efficient system of their own with just a few materials like panels, piping, junction boxes, and other items. A solar panel installation will attract more than just the environmental benefits. It will also lower your utility bills for years to come.
It doesn’t take much time or money to make a DIY solar panel system work for you either. If you have access to some friends and family who have construction experience this project will take less than one day of work on your end. In fact, if you opt for professional installation it could cost as little as $4,500 for a three-kilowatt system.
On the other hand, DIY systems can be built for as low as $1,000 with supplies available at home improvement stores like Home Depot or Lowes
Request A Solar Panel Installation Quote Today!
Switching to solar energy may be the best decision you can make for your home.
Solar panels are a more affordable option than ever, as solar panel systems are cheaper than ever and the cost of installation is falling. Still, there are some things to be aware of before jumping into a solar energy system.
If you’d like to speak with a solar panel installer near you, we can connect you directly with pre-vetted, experienced solar installers 100% free. When you request a quote with Solving Solar, you get connected with licensed installers with hundreds of jobs under their belts. Click here to request a solar panel quote now.