How To Save On Solar Panel Installation Costs
If you’re tired of dealing with high energy bills every month, it’s time to consider an alternative energy source. More and more people take this route as concerns over sustainability continue to rise. This is where solar panels enter the picture.
Solar panels are composed of several photovoltaic cells which capture sunlight to produce direct current electricity. These offer a relatively easy way to reduce power consumption, cut your carbon footprint, and enjoy cleaner energy.
And yet, despite the advantages they offer, installing solar panels can be pricey, depending on your circumstances. Thankfully, there are ways to help you save on installing the one you picked for your home.
If you’re planning to install a solar panel system, this guide is for you.
What Is The Average Cost Of Solar Installation?
The average cost of installing solar panels can range from around USD$15,000 to USD$25,000. Rates depend on where you live and how big or small your home is.
The components may also affect costs as more complex solar panel systems will take more time and effort to set up. These include inverters, racking, mounting, and other attachments.
Of course, practical costs will go into the final tally. You’ll have to factor in labor costs, worker’s compensation insurance, interconnection fees, and other related payments. Other costs include the approximate cost for a solar panel in your area, your home’s average energy usage and utility bills, and the amount of sun exposure your rooftop gets yearly.
Considering the amount of investment you’ll need, it pays to work with installers who can offer the best value. Research installation solutions at Solar Run and similar companies in your area for greater convenience.
How Can You Save Big On Solar Panel Installation?
Now that you got the breakdown of what affects the cost of installing solar panels, it’s time to learn some ways to save money on it. Consider the following tips:
Choose An Honest And Skilled Solar Installer
Solar panel installation should be something done correctly and efficiently in one go. You don’t want to end up paying more because of a badly done job or an installer without the tools and skills.
If you want to make it worthwhile, you should leave the installation process to a skilled, reliable solar panel installation company. They offer both the skills and equipment necessary for quick, efficient installations with little risk of additional costs on any damage. Also, part of their service packages is evaluating your home’s or establishment’s needs to find the most cost-effective solutions. That’s another reason to turn to them for aid.
Look For Affordable Payment Plans
Given the usual cost of solar panel installation, many solar companies offer loans and other deals to qualified applicants. This type of financial solution can be handy if paying for installations upfront is difficult for you.
So, if you want to save on your solar panel installation, find a solar company that offers financial deals like zero deposit or a lower annual percentage rate (APR) of 3% or less for solar loans. By doing this, you can install solar panels without worrying too much about your budget.
Get The Most Out Of Solar Tax Credits
Aside from affordable payment plans, you should also take advantage of solar tax credits to save on your solar panel installation.
Typically, these tax credits allow you to deduct a portion of the total installation costs from your personal income tax. For example, if you live somewhere in Arizona, you can get a solar tax credit amounting to 25% of your solar panel installation costs, which can be deducted from your income tax.
If you want to understand how tax credits work, speaking to a reliable tax professional is recommended.
Go For A DIY Or Hybrid DIY Installation
If you have the knowledge and skills necessary for properly installing solar panels, you can always go DIY. Although you may need to pay some fees, such as interconnection and permitting fees, you can still cut your overall expenses by doing the whole thing yourself.
Suppose you’re not sure you can actually complete the job. Then, you can try a hybrid DIY method. It works by having you finish some parts of the installation and entrusting the rest to a professional solar installer. With this approach, you can properly attach solar panels to your rooftop while saving money.
In today’s world, solar panels have become a popular source of renewable energy for many households and establishments. Properly installing them can cost you thousands of dollars. But by keeping these tips in mind, you can enjoy lower costs while having sustainable power for years to come.