Is Solar Installation Affordable?
Are you currently considering investing in a solar electric system for your home? If so, I’m sure that you’re already aware of some of the benefits in doing so. Solar power is a great way to reduce your home’s carbon footprint and assist with protecting the environment, while saving money. It’s one of the few times where an option becomes a win / win. Here’s a few things to consider when deciding to make the decision to go solar:
Initial Installation Costs:
Like any investment, the more money you spend out of pocket initially, the more you save down the road. Paying cash for your solar installation is the best option, because you would not have to pay any interest. If you don’t have the cash available, there are financing institutions that have loans available for solar with 0 down, for 12 years, with no prepayment penalties. You also might have the option to use a home equity line of credit to fund your solar or the HERO Program. Your particular financial situation and tax appetite will determine which option is best for you and your family.
Long Term Costs:
Depending on which financial option you decide to go with, once paid for, the long-term savings begin to add up very quickly. Today’s solar panels are built to last and come with a 25 year warranty. Which means that you will have a durable photovoltaic system that will be providing you power and savings for many years to come. In many cases, if the system is designed appropriately, you will eliminate your entire electric bill, altogether (excluding the utility connection fees). Additionally, consider the fact that your solar array will increase the value of your home. Should you decide to sell in the future, it’s not uncommon to ask for a higher selling price for the property, because your property comes with little or no electric bill. Like you, many homeowners are looking for ways to save money on utilities, which means that a quality solar electric system can be a large benefit for potential home buyers. Once you’ve made the decision to go solar, you’ll quickly see the numerous benefits that a home powered by green energy has to offer.
For more information about high quality solar electric systems for your home, contact New Day Solar.