Many financial experts consider the return on investment (ROI) from rooftop solar installation to be superior to the returns from stocks, bonds and other investment options.
A photovoltaic system will quickly pay for itself in energy savings, while also adding value to your home. Solar installation is a low-risk, high-reward investment, one that can continue to produce returns for years to come. And if you take the following steps, you can see an even more impressive ROI from your rooftop solar project.
Improve Your Household Energy Efficiency
One smart way to boost your return on investment in photovoltaic power is to make your home more energy-efficient.
If you lower your household electricity consumption – even by taking simple efficiency measures like installing a smart thermostat and switching to LED light bulbs – you won’t need as large of a rooftop solar array. You’ll be able to meet your energy needs at a lower cost, so your photovoltaic project will pay off much faster.
Take Advantage of Every Financial Incentive
Reducing your solar installation costs will improve your ROI, and that’s possible through a number of lucrative financial incentives.
The federal solar investment tax credit (ITC) reduces your income tax liability by 26 percent, and you may also be eligible for state and local rebates, grants and tax credits. Claim all of the incentives currently available for adopting photovoltaic power, and the thousands you save will help ensure that you see an excellent return on investment.
Invest in Quality Photovoltaic Components
Top-of-the-line photovoltaic equipment may not come cheap, but spending a little more upfront means your investment will come with minimal risks.
Rooftop solar panels, power inverters and photovoltaic system components that are of the highest quality offer exceptional operation, lasting much longer than those that are low-priced. With premium equipment, your solar array is likely to function for years beyond the warranties, ensuring that your investment pays off far into the future.
Hire an Experienced Professional Contractor
Your decision on who completes your rooftop solar installation will affect your return on investment – and you’ll be better off with an experienced photovoltaic contractor.
Hiring a professional solar installer instead of a local handyman will certainly increase your investment costs. However, an experienced contractor will know how to make sure that your solar array provides decades of problem-free operation. A handyman may not – and having the work done by someone without industry certification may nullify your equipment warranties.
Are you considering rooftop solar installation? If you live in Idaho, Oregon, Utah or Washington, Nationwide Solar is the company to call. We have extensive experience in photovoltaic installation, and we’ll help you see the fastest possible return on investment.
For more details, or to schedule a free consultation to discuss residential solar installation, contact Nationwide Solar today.
