Making the switch to a more sustainable, environmentally friendly energy source such as solar, is a smart move for almost every homeowner, but there can be no doubt that it’s a substantial investment, and as such, the decision to go solar, requires careful consideration.
While tax credits make going solar now, more affordable than ever, it’s still important to consider the following potential expenses:
System monitoring
This feature of a solar energy system is considered to be essential by most providers, yet some may not include it in your deal, or will charge you extra for it. Ensuring that the system performs at its best at all times, and enabling your installer to troubleshoot and improve functionality as and when needed, these systems can be wall mounted, or operated via an app on your phone. Requiring internet access, note that this may be an additional expense if your home isn’t connected to the internet.
Charges from your utility company
The switch-over fee when your solar system is first installed, is chargeable by your utility company, and while it isn’t typically a large sum, you should check whether the solar company will cover this cost, or whether you will need to.
It’s also important to note that if your solar provider is promising that you will eliminate the cost of you electric bill, this will only ever be possible with solar battery backup. Without battery backup, your night time electricity needs and the like, will be provided by the utility company.
Battery backup naturally costs more, but for many homeowners (and a lot will depend upon your electric usage and frequency of power outages), it’s a worthwhile investment.
Insurance
Insuring your solar system is always a good idea, but you’ll need to think about the cost associated with this, as solar impacts homes and existing insurance policies differently. It may be that you need to update your coverage to include solar features, and your insurer will advise you as to how much this is likely to cost, although it often isn’t expensive.
Maintenance
Generally speaking, provided your solar panels were bought from a reputable manufacturer and installed by an experienced company, they should require minimal maintenance over their lifespan, however, some repairs, cleaning and minor maintenance may be required from time to time. To prevent these costs from catching you out once your system has been installed, you should check the warranties supplied by your solar provider.
As with any investment that you make in your home (and in your future, and that of the planet), there are always a series of costs to take into account, and provided you’re aware of each of the points listed above, you should be in a good position to make an informed decision about having a solar system installed on your roof. For the average homeowner in the U.S., solar panels are a worthwhile investment that give a good return after several years, and which help you to reduce your carbon footprint, too.
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