In 2021, the average cost of solar panels is about $15,000-$25,000 or more, depending on the size of the solar panel system. While this price is nowhere near cheap, surprisingly, the cost of solar panels has been dropping every year. So, this year might be the ideal year to get solar panels for your home.
While the initial cost of owning a solar panel seems steep, the long-term savings make up for it. Think of the upfront cost as an investment that will reduce your energy costs for the next thirty years or so. If you look at it that way, $20,000 seems like a reasonable price.
However, there are a few ways you can reduce the cost of solar panels. That way, you won’t have to break the bank to finance your solar panel installation. If you take the right steps, you can reduce your solar panel expenditure by almost a quarter.
In this post, we’ll be looking at ways of cutting down your spending on solar panels.
1. Explore Your Options
When looking for a solar panel installer, make sure you explore all your options and settle for an affordable company. Small solar installers have better prices than larger contractors, so look at them first before proceeding to the larger companies. However, the entire affair is more complicated than picking the solar company with the lowest quote.
Apart from the quotations, you also have to look at the components of the solar panel kits that the company offers. Higher quality components fetch a higher price, but some companies offer such components with reasonable quotes. Certain solar providers strike the perfect balance between affordability and system quality, and that’s what you’re looking for.
Also, don’t forget about factors like warranties and customer service when choosing a solar company. Make sure you check out the companies’ reviews and testimonials to know who you’re dealing with. If the testimonials or reviews sound a bit too generic, then you should be suspicious.
You might have to do some serious digging before you find the perfect company, but it will be all worth it. Remember, don’t always go for the company with the lowest quote. Sometimes you actually get what you pay for.
2. Use Energy-Efficient Devices
Solar panels can significantly reduce your energy bills, but that doesn’t mean you should fill your home with energy-inefficient devices. It also doesn’t mean that you should increase your home energy consumption. Doing so only makes owning a solar panel system needlessly expensive.
First off, solar companies size the solar system according to your home’s electricity consumption. The history of your electricity bills will show your home’s energy demand. Higher electricity demand will require a larger solar panel system, which is more expensive.
As such, it’s crucial that you use energy-efficient appliances that reduce your home consumption. Start by replacing old appliances, which tend to be very inefficient. Also, avoid using halogen light bulbs which use a lot of electricity, and instead settle for LED bulbs.
When in the market for home appliances, only look for energy star–certified products. These are highly energy-efficient products that could help you save on your energy spending. Also, consider low-plumbing fixtures that use less water compared to conventional fixtures.
Air conditioners and heaters are notorious for making your power bill skyrocket. Try window treatments during the summer to help keep your house cool and use hot water only when you have to.
3. Leverage Solar Tax Credit to Your Advantage
The government offers plenty of incentives to encourage citizens to jump on the solar wave. One such incentive is the solar tax credit. This is a dollar-for-dollar reduction that the government applies to the total cost of solar panel installation, inclusive of labor and materials.
The solar tax credit can help you reduce solar panel installation costs by more than 25% of the original cost. However, the government will phase out the solar tax credit in 2022, so you have little time to take advantage of this incentive.
Apart from the solar tax credit, there are plenty of other incentives you can qualify for, depending on your state of residence. Have a look at all of them and find one or two which apply to your case.
4. Use Electricity During the Day
That doesn’t mean that you shouldn’t use power through the night. It means saving most of your electricity consumption for when the sun is out. That’s because solar panels are most effective during the day, so that’s when you should perform all the power-intensive tasks.
It’s a good idea to use your washing machines, dishwashers, and water heaters during the day. If you’re out during the day, you can use timers on your appliances to accomplish various tasks in your absence.
5. Always Clean Your Solar Panels
Regularly clean your solar panels so that they can receive maximum sunlight and produce more power. The best way to do so is by getting automatic solar panel cleaners that work just like sprinklers. This can help get rid of all the dust that’s blocking out the sun from reaching your solar panels.
Alternatively, you can get on the roof and clean the solar panels on your own. This can be a bit risky, so you better be careful with every step. If you’re scared of heights, you can get a solar panel cleaning company to do this for you.
6. Purchase a Solar Battery
Consider purchasing a solar battery to store all the excess energy that your solar panel system produces. That way, you can store energy that the system produces during the day and use it a night. Apart from a solar battery, you can purchase an energy storage system that is more efficient.
The Cost of Solar Panels Doesn’t Have to Be Steep
You don’t have to break the bank for a solar panel system. With the above tips, you can reduce the cost of solar panels and save a bundle. However, regardless of how much you spend on your solar panel kits, the long-term savings will always make up for it.
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