Solar Power Installations for Your Home: Frequently Asked Questions
Project Sunroof powered by Google Earth revealed that over 80% of single family homes in the United States have a roof that is qualified for solar. Chances are, your home is structurally fit for a solar panel installation. However, your roof’s age and condition, your financial situation, and your aesthetic preferences may affect your home’s solar eligibility. Oftentimes it is the homes that are most in need of a new roof or electrical upgrade that benefit the most from a solar installation. To find out for sure, you can contact us today to get a free, non sales evaluation of your home to determine if solar makes sense for you.
If you go solar, you will likely be paying less each month. Your utility company measures your electricity consumption that they bill you for in kilowatt hours (kWhs). The average cost for a kWh from your utility company in America is 13.72 cents. When you go solar, the cost of a kWh of electricity is 6-8 cents. Obviously, you are paying less when you go solar. But how does that affect your monthly budget? Each project is different, but most homeowners can finance a solar panel installation for $0.00 down, and start saving before they ever have to pay a bill. With current incentives available and great finance options, you can literally pay less each month to make the switch to solar. To find out if your home qualifies and to get a personalized quote, reach out today!
The average home solar installation saves over $1,500.00 a year off of their utility bills, and over $35,000.00 over the 25 year warrantied period of the system. The amount you will save is dependent on how much sunlight you get, what products you choose, and how you finance the system. The average homeowner, depending on the financing options available, can actually pay less each month right now than they are paying their utility company. However you finance, the bottom line is solar for your home is going to save you money.
Since we need electricity to live in our modern world, it’s not if you’re going to buy your electricity, it’s how. Buying from your utility company instead of producing your own clean energy to use from your property will always be more expensive. Deciding what finance option makes sense for you, whether your home is eligible for solar, and what products are right for you to maximize your return on investment, reach out to us today for a personalized quote!
Powering your home with solar is pretty straightforward. The solar panels capture sunlight and convert that energy into DC (Direct Current) electricity. That DC electricity is then converted to AC (Alternating Current) electricity, which is the type of electricity your home runs on. That electricity is then sent into your home for your personal use. Where it gets a little complicated is when the solar panel system on your home is producing more electricity than your household is consuming.
In this case, depending on your utility company’s rules and whether you have installed a battery. You will send that excess electricity either to the grid for a credit, which is most common, or store it in a battery to use when your panels are no longer creating energy, like at night. To determine what is right for you and if your home is eligible for solar, request a no pressure quote!
The answer to this question depends on what you want out of your solar and the rules of your state and your utility company. Most solar homeowners do not need to install batteries because of net metering. This makes paying for batteries to store your excess electricity unnecessary, so you can maximize your savings and use your utility company’s grid to handle any extra electricity you produce. You can enjoy the many benefits of solar without batteries, which now includes daytime backup for your home!
Of course, to get 24/7 backup, batteries and/or generators is required. When trying to determine what is right for you, it is important to keep in mind what you need backed up, how reliable your current service is, and your monthly budget. To get a personalized quote based on what your home needs are, reach out today!
Net Metering is the agreement between a solar homeowner and their utility company. This policy is governed by the state{link below} and is the best incentive available to encourage homeowners to go solar. When you go solar, the system is installed on your home and interconnected with the grid. Your system will produce electricity, measured in kilowatt hours (kWhs), that you will use in your home to power your daily life. When your system over produces during the day, like when you are at work and the children are at school, that extra electricity that your home isn’t consuming has to go somewhere.
When you have a net metering agreement in place, those excess kWhs are sent back out to the grid, and your utility company credits you per kWh you send out for them to transport to your neighbors’ homes. To keep track of this, your utility company will swap out your standard meter they use to measure your electricity consumption with a bidirectional meter, that can keep track of both energy consumption and production. When you are overproducing during the day, the bidirectional meter will roll backwards, and at night when you are consuming and not producing, your meter will run forwards. At the end of the month, the difference is what you are billed for.
If you overproduced for the month, you will receive a credit. If you under produce, you will be billed for the difference. Most utility companies also have minimum monthly fees to stay interconnected, to learn more about your situation and for a personalized quote, reach out today!
There are a number of incentives still available to go solar. From the 26% Investment Tax Credit (ITC) applied to your federal income taxes to the interconnection incentives by state, normally referred to as Net Metering, to the specific utility and state incentives provided, the incentives really make solar for your home a no-brainer. For example, in South Carolina where you can take advantage of 26% federal tax credit, a 25% state tax credit, and net metering, you can install solar on your home for over half off, saving tens of thousands of dollars! Find out what you qualify for today!
Solar installations are typically straightforward and completed within one to three days. Roof penetrations are warrantied not to leak from the installation process, and the panels can actually extend the life expectancy of your home! The most important factor in keeping the impact to the home low during the solar installation is choosing the right company with experienced team members to ensure everything goes smoothly. You want a professional team with the proper training and equipment to get the job done right the first time. It is also important to review warranties offered, both in terms of products and labor. The right residential solar install partner should be experienced and willing to stick with you beyond installation. Find out why Gold Path Solar is that partner.
The short answer is yes! Solar will increase your property value. Real estate prices of course change quickly and there are a lot of factors that go into your home’s price, but a study from the Department of Energy and Berkley Laboratory showed an average increase in home value of $12,000 to $15,000.
This study included over 4,000 home sales in 8 states, and was conducted in 2015. Since then, solar installation products have continued to become more cost effective and more effective, so with better products on homes these numbers are likely conservative. Another study done by the National Renewable Energy Laboratory (NREL) concluded that every single $1 saved on your utility bill can add over $20 to the value of your home. At the end of the day, who wouldn’t want a house with a $0 electric bill? Find out what solar can do for your property value today with a hassle-free, no pressure quote.
There are a number of options to pay for a solar installation. There are companies that specialize in solar loans, that allow you to take advantage of the federal tax credit (ITC) up front, with $0.00 down! This gives you the flexibility of extremely low payments, which are often even lower than the electricity bill the system is eliminating for you.
These types of loans for home solar are the most popular way to finance, about 80% of our homeowners choose this option. However, you can also pay with cash or a same-as-cash loan, to start seeing savings with no monthly payments right away. You can roll solar into a mortgage or a construction loan. This question can only really be answered by you, however. The experts at Gold Path Solar will walk you through these options and listen to what’s best for you, then make recommendations based on your needs.
Join Us on the Solar Journey
It might feel like a huge step, but solar power for your home has never been easier, or more effective. With more than two decades of experience to draw upon, we are uniquely qualified to help you make the transition from total utility company dependence to harnessing the clean and green energy of the sun.
Let’s talk. We have some great ideas for you.