Questions to consider before installing solar panels on your home
Published by Folz Team Real Estate on 01/27/2023
Installing solar panels on your home can be a great way to reduce your energy costs, decrease your carbon footprint and increase the value of your home. However, before making such a significant investment, it's important to consider all the factors involved. Here are some questions you should ask yourself before installing solar panels on your home:
sourceIs your roof suitable for solar panels?
The first step is to determine if your roof is suitable for solar panel installation. This includes factors such as the direction and slope of the roof, as well as its age and condition.
What is your energy consumption?
It's important to understand how much energy you currently use and what your energy consumption goals are. This will help you determine the size and number of solar panels needed to meet your energy needs. In Oregon, the average home consumes 976 kWh per month.
sourceHow much will it cost?
Installing solar panels can be a significant investment, so it's important to consider the cost and whether it will be financially beneficial for you in the long term. It's also important to compare quotes from different solar panel providers to ensure that you're getting the best deal. According to the Database of State Incentives for Renewables & Efficiency (DSIRE), the average cost of a residential solar panel system in Oregon is around $3.50 per watt. So, for a 5 kilowatt (kW) system, which is a common size for a residential home, the cost would be around $17,500 before any incentives or rebates.
What are the state and federal incentives available?
Many states and the federal government offer incentives for solar panel installation, such as tax credits and rebates. Oregon offers up to a maximum of $5,000 dollars in rebates for a solar electric system. The specific rate depends on your income level, but it ranges from $0.20 to $1.80 per watt (DC) of installed capacity.
What is the warranty and maintenance?
It's important to understand the warranty and maintenance requirements of the solar panels and ensure that you are comfortable with them before making the investment.
sourceHow will it affect the value of your home?
Installing solar panels can increase the value of your home, but it's important to consider how it may affect the resale value in the future.
Installing solar panels on your home can be a great investment, but it's important to consider all the factors involved before making a decision. By asking yourself these questions, you can determine if solar panels are right for you and ensure that you make an informed decision. Be sure to consider the suitability of your roof, your energy consumption, the cost and incentives, warranty and maintenance, and how it will affect the value of your home. It's also a good idea to consult with a professional solar panel installer to get a more comprehensive understanding of the process and the costs involved.