Top 5 Things You Should Know Before Buying New Solar Panels
Living in a sunnier state has its pros and cons. One of the more well-considered pros is the more excellent weather when compared to the dark cloud, snow-covered winters of other states.
Lately, the biggest con of living in a sunny state has been the influx of letters telling people to install new solar panels. While it’s a great idea, many people don’t know the actual benefits of new solar power technology.
If you’ve been racking your mind, keep reading to uncover the five things you should know before you buy!
1. Tax Incentives
The thought of switching over to solar can be anxiety-inducing for many. New solar power technology is a foreign concept for many homeowners and brings up a lot of questions.
However, the most common benefit thrown around (rightfully so!) is the financial incentive to go solar. The first thing to research is to see if the state you reside in provides any tax incentives.
As long as you install new solar panels by December 21, 2022, you will be eligible to receive a 26% federal tax credit. That’s no small amount! In 2023 that amount will drop to 22% and expire at the end of the year.
Some states also provide a tax credit. For example, solar panels in New Mexico provide a 10% tax credit of up to $6,000.
If you want to put your new solar panels on your roof, you need to make sure there are no damages and that it can fit!
While most homeowners opt to place their solar panels on their roofs, some choose to put them in their yard. Regardless of where you decide to set up your new solar panels, you want to ensure that it’s optimized so you get the most use out of it.
If you live in the northern hemisphere, it’s optimal to place your panels facing true south and vice versa.
Even if your state allows solar panels to be installed, your local county and city may require a permit. Be sure to keep in mind that, like any other permit, it may time some time to submit the application and receive approval.
4. Not All Solar Panels Are Created Equally
There are two types of solar panels typically installed on residences. First, you have the typical solar electric panels, and then there are the solar thermal panels.
The solar electric panels convert direct sunlight into electricity using solar cells. On the other hand, solar thermal panels concentrate sunlight using mirrors.
5. Overall Costs
The most significant deterrent to installing new solar panels is the high up-front cost that comes with it. It’s well worth the time to process if you want to pay the cost upfront or if financing is a better option. If neither of those is worth it to you, some providers rent out solar panels.
The upfront cost is not the only cost that’ll be taking a hit on your wallet. There’s also the cost to hire a contractor to consider, any roof modifications, and the number of solar panels necessary. Check out https://blueravensolar.com/blog/how-many-solar-panels-do-you-need/ to calculate how many solar panels you’ll need to power your home.
Are New Solar Panels Right for You?
Solar panels aren’t the right choice for every house or budget. If your home is shaded most of the day, you probably won’t maximize your new solar panels. However, for many, the financial and environmental benefits are worth the cost.
If you found this article helpful, check out some of our other recent posts!