5 Facts You May Not Know About Installing Solar

| 4/24/2018 1:19:00 PM

Tags: solar power, solar financing, Vikram Aggarwal,


Over the past few years, solar panels have gone from a rare sighting to a common occurrence on rooftops across America. Thanks to the financial and environmental benefits of installing solar panels, this renewable energy technology shows no signs of slowing down. Here are five facts you may not know about going solar. 

Installing solar has never been cheaper – and costs are still falling

The solar industry is getting more efficient in both manufacturing solar equipment and installing panels, which is good news for solar shoppers. Thanks to consistent advances in technology and more efficient installations, the cost of going solar fell by nine percent over the past year alone. Even better, the average EnergySage Solar Marketplace shopper broke even on their solar purchase in just seven years. As conventional energy prices increase, solar will become an even better investment than it already is. 

Utility policies mean that you can get credit for your excess solar power

Utilities in almost every state make it possible for homeowners to get the most out of their solar panel installations through a program known as net metering. When your solar panels produce more energy than you can use on-site, the extra kilowatt-hours (kWh) are sent back to the grid. In exchange, you receive credits on your electric bill. Then, when you use more energy than your solar panels are producing, you can draw down on your credits instead of having to pay the utility for electricity.

Thanks to net metering, you can effectively “bank” your extra solar power to use at night, when it’s cloudy, or whenever your panels aren’t operating at peak production. As a result of net metering, you don’t need a battery, and you don’t have to stress about perfectly matching your home’s energy use to your solar panel system’s production. 

Your home insurance policy can protect your panels

While solar panel costs are definitely falling, installing them still costs money, and you’ll want to ensure they’re protected in the unlikely event they get damaged. Luckily, when you install solar panels on your roof, they are typically considered part of your home, which means that they are covered as part of a standard homeowner’s insurance policy. (Note: every insurance policy is different – be sure to confirm with your insurance agent that your solar panels are included.) 

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