Residential solar panels are becoming a big thing in recent times. Where solar energy was once costly and inaccessible, it has now become quite a viable option for individuals who wish to embrace clean and green energy. There are many reasons why homeowners may consider installing these panels within their grounds or on their rooftops, but certainly there are several benefits that immediately arise with the implementation of solar power in the home.
Lower Or Zero Electricity Bills
From the moment you install a solar energy system for your home, you have the benefit of paying potentially zero electricity bills, depending on the type of system installed and your household energy consumption, as well as the weather conditions. This is already a reality for other households who have adopted solar energy, which they often use in conjunction with energy from the power grid when usage exceeds energy generated, like on hot summer days when the air conditioning is on full blast, or very cloudy days with precious little sun. Nevertheless, even in cloudy parts you should get more than two hours of sunlight per day, and sunny locations will on average have 5.5 hours of sunlight per day. Solar panels do continue to draw energy when it is cloudy, or the sunlight is diffused or indirect. Cloudy days usually produce around 10 to 20 percent of power that could be generated on days with bright sunshine.
The average annual energy expenditure per person is $3,052 including transportation and residential energy. In a household of five people, for example, that’s a whopping $15,260 spent on energy every year. Solar power reduces or even eliminates these costs and offer savings in the long run. Think you might sell your house? Solar panels significantly improve your resale value, as most home buyers realize the benefits of having a solar energy system already installed. Most homeowners see a $5,911 resale value increase per kilowatt installed. In reality, if you install a 3.1 kilowatt system, your home’s resale value could shoot up by almost $18,000!
Tax Rebates And Credits
With all the tax rebates and credits out there for solar energy systems, your solar panels could actually be paying you. First, 30 percent of the total system costs from equipment and installation go to federal income tax credit – a savings of $7,500 on a system worth $25,000. Add the state and local rebates, and Solar Renewable Energy Credits (SRECs), and your total cost may be halved. SRECs are generated throughout the year, which you can sell to utility companies to make extra money.
Reduce Fossil Fuel Energy
With more solar energy used, which is a clean, renewable and sustainable form of energy, it means less energy needs to be derived from fossil fuels. This helps combat greenhouse gas emissions and depleting finite natural resources such as coal and natural gases. Having less air pollution also contributes to cleaner air and better health.
Have you considered adopting solar energy in your business? Perhaps you were attracted by the environmental appeal as solar is a renewable and sustainable source of energy, but worries about the costs to your company held you back. Well, times have changed for the better for you now.
Solar panel installation costs have fallen drastically as compared to a few years ago, thanks to advances in technology as well as greater widespread adoption leading to economies of scale. At the moment, commercial solar panel installation is well within the reach of many businesses, and more companies are finding solar energy more attractive to adopt.
What Are The Costs Involved?
How much you have to pay for a commercial solar power system depends on several factors. One of the costs would be the actual solar panels that you purchase, along with associated equipment. There would also be installation costs. Finally, there are maintenance costs to ensure the panels work well every year. Nevertheless, there are several purchase strategies as well as government incentives that can greatly reduce the upfront cost of purchasing and installing your solar energy system.
How Are Costs Being Brought Down?
According to a recent government report, the price for installed solar panels (including equipment, installation and maintenance) between 2017 and 2018 has dropped 11 percent for small non-residential systems, and 5 percent for large non-residential systems. This trend reflects the price declines which began most notably after 2009.
The lowered costs come about less from the prices of solar panels, which are more or less holding steady since 2012, but other aspects of the system which have dropped in price. For instance, the inverters that turn the direct current (DC) of the solar power to alternating current (AC) used by our electric grid have lowered in price, hence lowering installation costs overall.
In addition, the process of designing and installing the solar panels is becoming more efficient as service providers become more adept and skilled at the task, and are able to provide better and faster service and lower prices.
What Other Methods Are Available To Offset Costs?
With the various finance options available from direct ownership, leases, to no money out of pocket power purchase agreements, the team at GenRenew has the expertise in house to provide you with the best solutions to meet your needs when considering solar for your business.
Curious to know more about the viability of installing a commercial solar energy system? Contact GenRenew today!
Businesses are having more and more reasons to adopt solar energy. With increasing demand, declining costs, and plenty of federal and state incentives, companies are able to start saving money from the moment they plug in to solar power. With all the financial incentives, this is the perfect opportunity for your business to achieve those goals of reducing carbon footprint and achieving energy independence through using sustainable, renewable energy. Here are the top benefits of going solar for businesses:
Federal Tax Credit
Probably the first thing you would notice would be a reduced amount of power that you receive from solar energy. If you are relying fully on solar energy, this would become very obvious immediately. If you have a hybrid arrangement where you are still drawing power from the electricity grid, this may not become immediately apparent until you check the meter or receive your electricity bill. If you are unsure as to whether the meter readings should be indicative of reduced output or not, you can also check the readings against the manufacturer’s expected average readings, taking into account possibilities of difference in readings due to cloudy days, rain, and other weather conditions.
Solar Renewable Energy Certificates (SRECs)
SRECs are comparable to shares, in the sense that your excess solar power can be converted to these shares which you can sell on the open market for cash. Every time your system produces 1,000 kWhrs of electricity, you get one certificate, adding up to a nice collection of shares to invest towards your future.
Modified Accelerated Cost Recovery System (MACRS)
MACRS is a depreciation method allowing solar energy owners to claim a sizeable tax deduction from the IRS. Solar energy has been classified as a 5-year property under the MACRS depreciation schedule, boosting your returns on investment and helping you get more money back fairly quickly.
Boosted Property Value
Renewable energy systems have been known to increase resale value by $20,000 for every $1,000 in electricity savings per year. Some states also exempt solar power systems from sales and property tax increases. Investing in solar power therefore makes your property more valuable, in addition to making it more attractive to buyers who are already looking at purchasing an economically and operationally efficient building.
Reduce Carbon Footprint
Solar power is a clean, renewable energy source, allowing you to literally create your own energy independently. Not only do you get energy efficiency with solar power, you also get a clear conscience that you are helping the environment by reducing the need to burn fossil fuels.
Improved Public Standing
Many businesses are using eco-friendliness to gain positive public perception and boost their reputation in the mainstream consciousness. It is a sign to the world that your business cares about quality, efficiency, and the long-term sustainability of our environment. A “green” building like yours would stand out from other businesses, giving your company a reputation as a leader, innovator, and environmentally responsible corporate figure.
Solar power could be said to be entering its prime. Its energy efficiency has increased fourfold as compared to 1970. Durability has also increased, with panels being able to withstand harsher climates and hard winters. Design-wise, solar panels are also transformed.
With more and more homeowners turning to solar panels for a renewable and sustainable source of energy, it is good to know of any possible associated costs or hassle from maintenance after installation. The quick answer and good news is, homeowners generally do not need to do much solar panel maintenance.
The size and type of solar energy system depends on how much power is needed by your household on a daily basis. While a typical solar installation might set you back around $35,000 to $40,000, there are several government incentives and tax breaks offered by the state to greatly reduce overall cost, even potentially up to 50%.
This is certainly good news for individuals and households who are keen to embrace a more environmentally friendly source of energy which is renewable and sustainable too. In addition, with the increasingly widespread adoption of solar powered items and buildings, solar energy is becoming more easily available and also affordable for consumers.
Low Maintenance Needed
A solar installation that is properly done would usually have a lifespan of 30 years, with limited incurring cost especially for the solar battery. In general, batteries of the off-grid system are designed to last for 6-12 years on average. Hence, it can be derived that within 30 years, the batteries would have to be changed between 2 and 5 times. Certain service providers, however, offer warranty on the PV (photovoltaic) batteries along with the entire system.
Different types of solar installation would call for different maintenance options. As a guideline, a solar panel has a normal degradation factor of at least 1-2% per year, barring extreme weather conditions. For this reason, it is recommended that annual maintenance and tuning of your system is done every year, just like with a car.
Maintenance Under Serious Weather Conditions
For periods of heavy snows, you would need to remove the snow piling up on your roof, which may be a tricky thing with solar panels on the roof. It is best to engage a solar contractor who is very experienced in removing snow from roofs with panels installed, so as to reduce the risk of damaging the panels. However, if your area is prone to serious weather problems and unpredictable weather patterns, it pays to find out about the ideal type of solar panels for your home to avoid damage caused by sudden and extreme changes in temperature, for example.
While the installation of solar panels does come with a hefty initial price tag, the benefits of not needing to pay electricity bills as well as the extremely low maintenance requirements certainly outweigh the cost. It certainly is worthwhile to invest in solar power!
Depending on the region we live in, our homes can be susceptible to hurricanes. The damage and devastation brought on by a hurricane is often immeasurable. Solar panels, like everything else, may also be at the mercy of a hurricane if it hits your area. But they are not so fragile to be damaged by hurricane winds. In fact, solar panels are extremely durable and have withstood not only testing in laboratory conditions, but real-life hurricanes as well.
There are many measures put in place to ensure that solar panels are hardy and can put up a fight against the worst of storms. Incidences over the past few years such as Superstorm Sandy and Hurricane Irma have also provided us with more valuable data about the tenacity of these solar panels. Indeed, solar panels are a rugged and viable option for generating electricity for your home, business, or city, even in the aftermath of the storm.
Understanding The Risks
While flooding remains the biggest cause of damage by hurricanes to solar panels and all other property, the next largest key factor is wind damage from the high speed winds that come with the storm. These winds often move in different directions too, as the hurricane often does not stay in one spot. As many solar panels are installed on roofs, slightly above the roof surface, one of the main types of wind damage comes from a force called uplift, which is where the wind blows in the space between the roof and the panels.
However, service providers are keenly aware of this issue and ensure that solar panels are fastened securely to the roof beams with large lag bolts, which prevents the panels from being torn off the roof by strong winds due to uplift or other wind forces, as long as the roof itself is well built and maintained, and barring roof damage or collapse.
Performance In Tests And Real World Situations
Manufacturers of solar products do rigorous testing on the panels prior to approving them for the market. The panels would usually come with a certification that they can withstand winds of up to 140 miles per hour, which is the equivalent of a Category 4 hurricane with average wind speeds of 130 to 156 miles per hour.
Reports on solar panels which were affected by real life hurricanes Superstorm Sandy (2012), Hurricane Michel (2016) and Hurricane Irma (2017) show that nearly all panels were still intact and functioning despite the strong winds, with only a few individual panels completely unusable from wind damage. Other losses came from the destruction of the whole roof or building structure, not from winds. In cases where an individual inverter was available for the building, power was immediately restored as soon as the inverter was plugged in. Furthermore, at least one municipality used solar power for traffic lights until power was restored.
Find out more about installing solar panels for your home or business with GenRenew.
Solar energy has numerous benefits for homeowners looking to keep their energy bills low and to tap into a renewable source of energy source. As solar energy becomes more and more widespread, costs related to purchase and installation of solar panels have come down and made this great energy source much more affordable to home owners. Did you know that the roofing in your house has an effect on solar panel installation? Read on to find out more.
Solar energy is one of the most accessible of renewable energy sources. More and more home owners are realizing that tapping into the endless energy from the sun has numerous benefits including massive savings on energy costs, environmental conservation among others. The growing popularity of solar energy has given rise to questions about the cost of solar panel installation. There are many factors that affect what your solar installation will be. Here are some of them:
Do-It-Yourself (DIY) is a growing trend among home owners in America. While there are many benefits to DIY, solar installations are an exception. While many home owners may be tempted to undertake solar installation in their homes by themselves. Here are some of the reason why this is not a good idea.
Many homeowners often wonder how the weather affects solar energy systems in their homes. Because solar panels are installed outside on the roof, it is easy for someone to imagine that adverse weather can damage the solar panels or at least severely reduce the amount of energy produced by the system. Here are some of the widespread misconceptions surrounding home solar installations.
The first question that comes in mind when one has broken solar panels is whether to repair them or toss them. Unlike other electrical gadgets, solar panels have longer life expectancy and they are not techs that can just be thrown out just because they are broken. Whether you own or leasing solar panels, it is worth the time repairing them when they get damaged.