The cost of heating, cooling, and lighting a home can be astounding, which is why many homeowners choose to install solar panels. If you’ve been questioning how you can truly make a difference in the environment, starting with solar panels is a great way to bolster sustainability efforts. With this money-saving, clean-energy option, there are several reasons why this choice can improve your home and lifestyle. Get Gear Tech explains more below.
According to the U.S. Department of Energy, solar power is “sustainable, renewable, and plentiful.” Even in places where it is cloudy the majority of the time, there is enough regular sunlight to provide power for your home. This makes it ideal for nearly every homeowner in the U.S.
Investing in solar panels may feel too expensive, but they are designed to last a long time. Most warranties cover up to 30 years!
The process of installing solar panels is rather quick, and most companies can finish the job in two to three days. The typical procedure begins with a site visit from the company you choose to determine if your roof type will work. Asphalt shingles are the most common material for roofs, and they are completely compatible with solar panels. Another consideration is the slope of your roof. If it is too steep, you may have to have the panels installed elsewhere on your property.
Once the installers have visited your home, they come up with a design that you’ll need to approve. After approval, they’ll come to your house to get everything set up properly. Often, an inspection is required to ensure that everything is installed correctly before your panels are up and running.
Options for Financing
The cost of solar panels is often the biggest roadblock for homeowners. Fact is, wattage will impact the solar panel’s price, ranging on average from $0.70 to $1.50 per watt. This puts a typical 250 watt panel at $175 to $375 on average, which means an average residential installation runs $3,910 to $6,490 but can reach more than $13,000 for larger roofs.
Luckily, there are options for financing that make it more affordable. The Federal Housing Administration has an Energy Efficient Mortgage program that helps pay for energy-efficient upgrades to existing homes.
Another financing option is a traditional bank loan to cover any up-front costs. Over time, you can pay back the loan in small amounts, making it much more accessible for homeowners with smaller budgets.
Increased Home Value
Many homebuyers look for houses that already have solar panels installed. If you’re willing to invest, a Zillow study found that you can increase the value of your home by more than 4%. That’s a big payback if you ever decide to sell and move somewhere else. Even if you don’t ever sell your house, you’ll know that you put money toward an improvement that most people want.
Lower Utility Costs
According to EnergyStar.gov, the average cost of utilities for homeowners is $2,060 per year. You can reduce that bill significantly when you have your own reliable power source. Over time, the amount you’ll save on power bills can replace whatever you spent to have your solar panels installed. It makes monetary sense to invest now and enjoy the benefits later. Plus, you’ll feel good about reducing your energy consumption.
Installing solar panels can benefit homeowners in many ways, from savings on utility bills to the comfort of reliable electricity. If you’ve been considering whether getting solar power at your own home is the right choice, look into financing to see if you can get help paying for them.