Factors Worth Considering Going Solar
As electricity continues to get more expensive and the price of solar panels has been declining, installing solar at your home is becoming an increasingly attractive option for getting the power you need. Ultimately, though, whether or not solar is right for your home is not a clear cut decision yet. You need to consider these factors and how they affect you specifically in order to determine if you should go solar.
Expenses
- Installation Costs: Be aware that installing solar panels is very costly up front, largely because of the cost of installation. The price of installation has fallen by 50 percent since 2008, but the average installation still costs nearly $20,000. So you can best understand the installation costs you could face, contact a professional for a quote.
- Operation Costs: While maintaining your solar panels is not very costly (most just need to be hosed off every few months), there are other operational costs to consider. For example, you will probably need to replace the solar inverter at least once.
Incentives
- Energy Savings: When you go solar, you can expect to see your electric bill drop significantly. The average home saves $84 a month after going solar.
- Tax Incentives: Until 2016, there is a tax credit that will allow you to claim 30 percent of the cost of installing your system at your home.
- Excess Energy Credits: There is a chance that your solar panels will create more energy than you need. In that case, your utility company will often offer you credits if you put that energy back into the grid.
- Home Value: Solar adds an average of $24,705 to the value of the home after it is installed.
Whether you decide to install solar panels or continue to be powered the more conventional way, your home deserves to be protected by great insurance coverage. To get the homeowners insurance you need to protect your home and your family, contact Martplan Insurance Agency in La Habra, California.