Want A Payback Period Of 5 to 8 Years On Your New Solar Panel Install

Want A Payback Period Of 5 to 8 Years On Your New Solar Panel Install

There are several factors that are currently offsetting the total cost of solar panels for a home installation:

  1. 30% Federal Tax Credit
  2. State Tax Credit
  3. Utility Based Solar Incentives
  4. Net Metering Law

If you are currently living in a state that is better suited for solar panels, you can almost assure yourself of a 5-8 year payback period on your solar investment. On average, the life-span of a solar panel system is roughly 25 years which means that you can count on almost 20 years of not having an electric bill, how’s that for savings? As electricity rates continue to rise, now is the perfect time to take advantage of the 30% Federal Tax Credit which will expire at the end of 2019.

How Do Solar Panels Work At My Home

The most obvious difference between residential building installs and other solar powered systems is that typically they are connected to your local utility grid.

Having said that, when you connect a new solar panel system for your home, your local utility company usually has a huge say-so as to what equipment needs to be installed and how it can operate. The size of your solar panel system must be approved by your local utility, including the voltage, current, and the solar inverter that needs to be installed.

Will My Solar Panel System Continue To Work If There Is A Utility Grid Failure

The quick answer is that it doesn’t continue to work. Your system inverter needs to shut down your system so that a person working on the lines can work on the electrical problem and won’t be shocked or electrocuted by your solar panel system. Most residential owners don’t understand this process and thus get upset whenever they have a power failure and their solar panel system shuts down as well. However, remember that this is down primarily for the safety of any linesman that might be working on getting the power back up again.

Why Are Residential Solar Panels Tied To The Grid

The reason is due to the net metering laws that are applicable in more than 30 states. This law requires your local utility to give you a credit on your electricity bill for each kWh of solar power that your system produces that feeds back into the grid.

Most power is produced around the middle of the day because this is usually when most people are at work or school and they are using the least amount of solar power. This means that because it is not being used, approximately 40% of the solar powered produced from your home solar panels can then be fed back in to the local grid. The retail net metering give you back 1kWh for each 1kWh that you feed back in to the grid which then you can use during the evening and night when you’re at home.

Which Brands of Solar Panels Are The Best For My Home

There are many different manufacturers of solar panels to consider and that your local contractor utilizes. You can find reviews for many of the best solar panels for 2019 on this site.

How To Find The Best Local Solar Company

Like making any major purchase, you must do a bit of homework on your end by researching your local solar panel companies. One of the main factors to look for is years in business and reviews for any company you are considering.

Leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.