4 Points to Consider Before Investing in Solar Power – NuWireInvestor – NuWire Investor

Renewable energy is becoming increasingly popular as more people strive to improve the environment and discover sustainable alternatives.

Numerous homeowners are switching to solar power and purchasing solar panels to operate their homes and lives.

Consider these 4 essential points before investing in solar power for your home:

A Property Examination

Evaluate your property, specifically the roof, to ensure solar power is an available option.

Solar panels are utilized for converting solar energy into usable electricity for powering your home.

Installing solar panels requires ideal roof conditions to operate at full capacity. Assess your roof to determine the durability, shade, shape, size, and slope. An old, damaged roof that needs replacing is not a viable candidate for solar panels.

An ideal roof for solar panels is generally sturdily built and south-facing with a slope between 15 and 40 degrees. Consult a construction professional or solar panel specialist if you need assistance confirming the suitability of your roof.

Examine your property before embarking on an expensive investment to guarantee your roof qualifies for solar panel installation.

The Installation Process

Learn about the installation process for solar panels to completely understand your investment.

Installing a solar power system involves numerous steps, including preparing the roof, mounting the panels, establishing the wired connection, and testing the results. Depending on the size of the system, installing solar panels can take between one to two days.

Two options are available for installing your solar panels: Purchasing a self-installed system or hiring a professional contractor. Before pursuing the DIY route, analyze potential issues, including connecting to the power grid, getting insurance for the installation process, scheduling inspections, and requesting permits. Otherwise, hire a contractor to safely and properly install the solar power system for you.

Review the installation process for solar power to choose the proper panels and understand the expected costs. 

Choosing Panels

An important question to contemplate is the number of solar panels required for your home.

Obviously, you’ll want to produce enough energy to eliminate your traditional electric bill. Calculate the kilowatt-hours of power needed for powering your house to locate the correct system size and number of solar panels. On average, a homeowner will need 28-34 solar panels to cover their energy usage.

Additionally, determine an arrangement or develop a design to showcase your solar panels. Discuss your ideas with an installer to check the functionality of your designs.

Costs Involved

The price of solar panels varies greatly depending on the location, size, and system.

Typically, a solar power system costs between $10-15,000, which translates to approximately $2.51 to $3.31 per watt.

Evaluate the expected costs of your chosen solar power system to ensure a wise investment.

Proven Benefits

Numerous benefits are associated with switching to solar power.

Proven advantages of installing solar panels include:

  • Cleaner energy: Eliminate the number of harmful gases and toxic pollutants emitted into the atmosphere
  • Immense savings: Reduce your electric bill by subtracting the energy credits earned through your solar panels
  • Tax Incentives: Receive a range of 25% to 30% of the installation costs back on your federal taxes
  • Increased Property Value: Earn as much as $5,900 per kilowatt of installed solar energy in resale value

Understand the excellent benefits of implementing solar panels to discover how it’s the ideal investment opportunity.

Alternative Options

Alternative investments regarding solar power are available.

If you’re renting your home, possess an unsuitable roof, or fear the installation costs, opportunities for investing in solar power and reaping the benefits still exist.

Community solar is an amazing alternative for harnessing solar power. Community solar refers to a group of people sharing electricity produced by converting solar energy. Community solar projects are funded, owned, and operated by a third party, generally a utility company or business owner. Numerous panels are installed in a certain area, and community members are able to subscribe to the service and receive a share of the solar energy produced.

Become a member by finding local options for community solar in NY to invest in the future of solar power.

The popularity and proven benefits of solar power present an incredible investment opportunity.

If you’re interested in participating in the advancement of solar power, evaluate the installation process and possibilities as well as your alternative options. 

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