A home solar installation can provide you with major savings on your monthly electricity costs – and by producing your own power, you may not have to send a dime to the utility company.
But while installing a rooftop PV system is affordable for homeowners of all income levels, the project can require a significant investment. Fortunately, the following strategies can help ensure that going solar is within your financial reach.
Get Several Solar Installation Estimates
Shopping around is a smart way to save money on home solar installation. According to EnergySage, an online information resource backed by the U.S. Department of Energy, homeowners who get quotes from at least three professional photovoltaic contractors can expect to save thousands on the project.
Don’t Base Your Choice on Price Alone
Getting multiple estimates is essential, but automatically selecting the photovoltaic contractor who provides the lowest project bid may not be the right move. Cheap solar panels aren’t always a good value, as they’re likely to be less efficient and less durable. To see the long-term savings you want, spending a little more upfront might be necessary.
Plan Your Solar Panel Installation Soon
If you begin your home solar installation in 2020, you can get back a full 26 percent of your rooftop PV system costs by claiming the federal solar investment tax (ITC) credit. Wait until next year, and that amount falls to just 22 percent – and in 2022, the financial incentive will be gone. Act quickly, and you’ll save the most money.
Choose the Right Financing Solution
With no money down, leasing seems like a good way to cut the costs of going solar. However, going that route means you won’t be eligible for the federal ITC or any of the state and local incentives for home solar panel installation. Instead, look into a secured or unsecured loan. Or, simply check with your photovoltaic contractor – some have financing plans that require little or no out-of-pocket cash.
Make Your Home More Energy Efficient
For optimal performance and maximum savings when you go solar, consider taking steps to reduce your household energy consumption. By installing more efficient lighting, adding seals around the doors and windows, replacing older appliances or upgrading your insulation, you can lower your electricity usage – and, therefore, invest in a smaller, less expensive rooftop PV system.
Are you ready to go solar? Do you live in Idaho, Oregon, Utah or Washington? Nationwide Solar offers free, no-obligation home solar installation consultations. We’re experts in rooftop PV systems, and we’re known for installing top-quality photovoltaic equipment at an affordable price.
With Nationwide Solar as your professional photovoltaic contractor, you can count on first-rate workmanship and outstanding customer service. Plus, we offer a no money down financing plan to qualified buyers. For more information on our residential solar panel installation services, or to schedule a free consultation and project estimate, contact us today.