Why Homeowners Should use a Residential Solar Company
In the solar industry, there are three main divisions of solar. These include utility, commercial, and residential solar.
When looking for solar, homeowners have two options. They can opt into their utility’s solar program, or they can find a residential solar company.
Although business and utility companies have installed the largest share of solar, residential solar is a growing energy solution. This choice is an appealing option because of the ROI of residential solar. However, not everyone can qualify for residential solar.
The Financial Benefits of Using a Residential Solar Company
One of the reasons residential solar has picked up is because homeowners realize the saving potential it has. Although the cost per watt is less for utility-scale solar, utility customers are often charged more for it.
Utility companies with solar programs often charge participants a fee on top of the regular rate. While adding the infrastructure and acquiring the land for the panels costs more for the utility, the upkeep of this energy source is less intensive, making the long term costs of a solar farm low.
It is uncertain why these programs are more expensive, but it is probably meant to deter customers from choosing this energy option.
What Goes into the ROI of Residential Solar
When homeowners purchase solar, they receive a federal tax credit. This tax credit, along with net metering and any state incentives, makes residential solar thousands of dollars cheaper than purchasing power through the utility.
Increased Home Value and Residential Solar
A Zillow study found that homes with purchased solar arrays increase home value. How much solar panels increase the home’s value depends on the location. However, in general, homes with solar have sold for 4.1 percent more.
Who Can Qualify for Residential Solar Panels
Because not everyone qualifies for solar, it may not be the right time to get residential solar. Taking a look at the qualifications helps individuals determine when to purchase a solar array.
To get a solar array for a home, the potential customer first has to own the home. Because solar is a big-ticket item, the homeowner needs a decent credit score or cash so they can finance the array. They also need to owe federal taxes each year so they can qualify for the federal tax credit.
The home needs to use enough energy for both the customer to save and the company to make a profit. This happy medium is when the home’s energy usage is over 500 kWh per month.
Homes also need unshaded space facing the right direction and angle for optimal sun exposure. If the home doesn’t have enough usable space, the backyard might be an option.
The Best Residential Solar Company Offers
When considering which solar company to use, there are a couple of services to consider. Although these services won’t impact the production of the array, they can increase customer satisfaction and savings.
These services include the financing options, the referral program incentives and customer service. As a potential customer, it is imperative to make sure the residential installation company of choice hits the mark in these areas.
Choosing the Right Financing Options
There are three main financing options used in the solar industry. These options include paying in cash, qualifying for a loan, or getting a leased array.
If the homeowner can afford to pay cash, this option is going to save the most money. The second best option is to apply for a solar loan. Solar loans allow customers to own the system, which increases the value of the home, without having to pay anything extra.
Leased solar arrays are the least beneficial financing option. Homeowners that choose this option don’t save as much in the long run, but they often pay less per month.
Referral Program Incentives
It is natural to share something you believe in with others. However, being incentivized for it doesn’t always happen. Customers should make sure they check out the solar company’s referral incentive program before referring a friend so they won’t miss out on this bonus.
Quality Customer Service
Everyone drops the ball at some point, but companies that go out of their way to make things right are worth supporting. Finding a company that you can trust will take care of everything, will make your solar experience a rewarding one.
Battery Backup Options
Solar arrays don’t store excess energy on their own, which is why it is important to look for a solar company that provides storage options. One storage option that works well for residential solar is battery backup. Go Solar Group offers three battery backup options to its customers.