Things to Consider Before Investing in Solar Panels

Things to Consider Before Investing in Solar Panels

Conserving energy is a goal shared by many homeowners. However, with the prices of utility bills constantly increasing, this can be difficult to manage. But that doesn’t mean you should be forced to deal with it. There are plenty of ways for you to reduce your power consumption. One of the best ways to do this is to install solar panels. This post will discuss everything you need to consider before investing in solar panels.

You Need to Budget the Costs

Before we get into how much solar panels cost, we need to cover what they’re actually for quickly. Solar panels are devices that absorb sunlight and convert them into power. This has become one of the best ways to use power to the fullest while staying off the grid, so to speak. Installing solar panels can cost an average of $10,000 to as much as $30,000. This, however, depends on a few factors. For one thing, not every house will be decked out with solar panels. The size of the house plays a more significant role than you think.

Furthermore, the company you go to may charge different rates. Regardless, it can be complex to finance this investment. However, you do have a few options. If you’re looking for a quick and easy method, you can look to loans, as taking out a personal loan can be an effective route. Before applying, however, you should check both your credit report and score. Look for glaring errors and if found, take the appropriate steps to have them removed. You can contact the reporting agency or the business that made a mistake. It usually takes 30 to 60 days for the information to be updated. This same holds true if you find any misreporting of your name, age, or current occupation. Make sure your identifying information is current and correct. If not, you could face problems trying to prove who you are.

Related: Best Solar Generator For Off-Grid Living – 5 Picks + Buying Guide

Determine What Type You Need

Solar panels aren’t just one entity; different types function differently. There are three types of solar panels to choose from:

  • Monocrystalline
  • Polycrystalline
  • Thin-film panels

Monocrystalline solar panels are among the oldest yet most innovative types you can get. They’re made from silicon crystal, a material that can last a long time. Polycrystalline is the same as monocrystalline, except its quality isn’t the best and can’t be used in areas with high temperatures. Thin-film panels work a bit differently than the other two. Unlike the previous options, thin film layers don’t have a frame backing, so they’re far lighter and more accessible for the company to install. You can also choose how much goes into 60 to 92 cell counts.

Related: Best Solar Generator For Home Backup – 6 Options for 2023

Where Will You Install Them?

Even with the best flexible solar panels available, location is among the essential factors when installing solar panels. If you live in a place that doesn’t see enough sunlight, you won’t get much out of your solar panels. Furthermore, where you install the panels also plays a role. You want to install your panels on the true south or true north, depending on where the sun shines the most.

The Company You Hire for The Job

Not all contractors are created equal, and especially for such a big job, you must research your laborers before signing a contract. Think about any previous work you may have done on your home and what you did and did not like about the companies you worked with. Determine who has a reputation for being the most knowledgeable concerning this specific project and what you value as a consumer in terms of customer service. Talk to friends and family who have installed solar panels before and listen to their recommendations. You should also be sure to read online reviews across multiple websites before you make your final decision. 

The Length of The Project

This goes hand in hand with selecting the right people to do the job. You need to set your expectations realistically concerning how long this job will take. Factor in things like the weather, if applicable in your area, and the current global supply chain crisis. These factors can delay the schedule even from the most reputable companies. Set aside a time when you don’t need your house free of projects for things like hosting parties or out-of-town guests. Carefully planning the timeline following the demands of your life is a smart way to prepare in advance to make installation easier for everyone. 

The Shape Your Roof is in

Many people find out the hard way that their roof needs to be replaced or repaired before this type of project can commence. Consider hiring a roofing company to come out and inspect your roof in advance so that you know if you have to take care of any underlying issues before installing your panels. The physical shape of your roof will also come into play. A traditional roofing company might not be able to tell you exactly if that is the case, but they will be a good resource down the road if you need to make changes to your roofline to accommodate the panels. 

The Length of Time You Intend to Stay in Your Home

If you are not sure you will stay in this specific house for the foreseeable future, you might want to think about that before commissioning this project. While solar panels can be great for resale if you do move, you can never predict the housing market, and to make such a significant investment for the short term and then reap little to no return on investment would be a shame. This might not be a reason to completely abandon the project, just something additional to think about on the front end as you decide on the timing of the overall project. 

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