Installing solar panels on your home can save you, on average, between $10,000 and $30,000.
But if you’re like many homeowners, you may hesitate to set up a solar panel system because of the high upfront costs. Thankfully, there are a few ways to lower your costs from day one, saving you money now and in the future.
Use these three tips to help you maximize your solar savings.
Choose Low-Cost Installation
When researching solar installation near you, it’s important to compare rates across different companies for the best solar system savings.
Ask about installation fees and payment plans to help you find the most affordable and budget-friendly option. It’s generally recommended to ask for at least three different quotes before choosing a service.
Before settling on the most cost-effective contender, be sure that the company has a good reputation and is experienced in solar panel installation. They should have all appropriate licenses required in your area.
Take Advantage of Rebates and Tax Breaks
It’s common knowledge that solar panels are a costly investment. That’s why solar panel companies and the government have created numerous solar panel savings and tax incentives to keep costs down.
Keep all information you have on payments made towards your solar panel installation. Come tax time, you can apply for the Federal Solar Investment Tax Credit. And in many cases, you can also save on property taxes after installing solar panels.
You may also be eligible for a rebate after receiving your solar panels, allowing you to receive a chunk of change back.
If you’re still worried that the cost of solar panels might be too high for your family, check your city or state’s local incentives. These can be extremely generous, depending on where you live.
And you may also be able to get a low-interest loan to cover the cost of your solar power system that you can pay back slowly over time.
Add Battery Storage to Your Solar Power System
Another way to reap smart solar savings is to add a battery to your solar panel system. This helps you store extra energy from your panels, which you can use later. A battery especially comes in handy during cloudy weather and the dreary winter season.
But there’s another way battery storage can save you money: you can sell your excess energy back to the grid (as long as your home is still connected to the grid). Check that your home and local energy provider offer this solution. If so, it can help to boost your solar energy system’s cost-effectiveness.
How to Get the Most Solar Savings
Solar panels can generate inexpensive power for your home, saving you thousands of dollars. But there are also ways to save money when installing and setting up your solar system. Keep these three tips in mind to help you maximize your solar savings.
For more home improvement ideas, check out our latest home and garden articles!