Purchasing a solar system for residential home is a significant investment; one that shouldn’t be entered into without research and careful consideration. Many homeowners are still weary of investing in this eco-friendly system because they are still unsure about how solar systems work.
We’ve compiled a list of questions for you to consider when shopping for a solar system for residential home.
#1 Has the cost of solar residential dropped recently?
In the last ten years, the cost of a U.S. solar system installation has reduced by up to 70%. In 2017 alone, there was a further 5% drop in cost in solar system installation in the residential sector. So there’s no question that the cost of solar residential installations is dropping. As more people turn towards an environmentally friendly solution, solar technology continues to improve. It is no doubt the smartest investment you can make for the future.
#2 Is it still possible to get solar panels if your roof isn’t qualified?
Yes you can! There are many homes with roofs that are not suitable for solar panel installations. But these homeowners still want to go solar. The options include community solar gardens and ground mount solar systems. These are two popular ways to access the sun’s energy. In a community system, members in your neighbourhood share the solar system. In a ground mount solar, you install and own your system, therefore bypassing roofing hurdles.
#3 Can you power your entire home with solar panels?
Theoretically, yes but you cannot expect this level of production from your panels every day in the week. Leading solar manufacturers recommend a 25% cushion when calculating your goal for solar panel offset. Solar panels cannot operate at 100% efficiency all the time. There will be some days when you will need to rely on grid connection for your home’s energy use. However net-metering enables you to take advantage of surplus solar energy production. This means you don’t have to pay for energy while you rely on your local for backup.
#4 When will my home system reach the “break-even point”?
Most homeowners are drawn to solar technology by this feature. They are interested to know how long it will take for their electricity bill savings to be offset by solar panel installation. On an average, U.S. homeowners need around 7.5 years to reach the break-even point with their system. This is an encouraging statistic for many people who want to leave a minimal carbon footprint!
Although solar system for residential home have a significant upfront cost, the payback period and ROI can be achieved in a short amount of time. If you’re looking for an estimate on your own solar system or have other questions regarding solar panel installations, get in touch with OhSolarMio today.