Solar Power FAQs
You have questions about solar power for your home or business. Spectrum Solar has answers, and we’d love to address your specific question too.
Why Should I Install Solar Panels?
With a solar energy system, you will receive several financial benefits. Using solar panels means you can significantly reduce or even eliminate your electricity bill. It can also protect your home or business against rising energy costs, as you never know when your power company could raise rates.
Like many renewable energy sources, solar power offers numerous benefits for you and the planet. Typical power generation produces air pollution and uses excessive amounts of water. Solar power generation protects your local environment.
Examining your power bill is the fastest way to figure out how much electricity you use and what you pay for it. Your power company website may also display a standard rate of residential and commercial energy usage.
If you have both solar panels and a utility hookup, net metering is a common solution. With net metering, the electricity your solar panels generate goes out into the general grid. Your home or business then draws power from the grid. Your electric company only charges you for the energy your property draws over what your solar panels put into the grid.
Net metering policies differ by state, city, and utility company. In some places, you can only use solar panels with net metering if your system is below a particular Kw value. Contact Spectrum Solar, the best solar company around, to discuss your specific situation.
In the current markets, installing a solar power system does increase your home’s value. In fact, it may do more to increase your property value than a kitchen renovation. However, that does not guarantee it will remain the same in the future. Additionally, you must own your solar power system to see the benefits, not lease it from one of the many solar panel companies.
How Will Solar Panels Work on Home or Business?
Solar panels convert the sun’s energy into direct current (DC) electricity. Traditionally, DC currents must be converted to alternating currents (AC) for most homes or businesses. This process uses an inverter. After converting the energy to AC, it is either used on your property or sent into the electric grid. If it is sent into the grid, you will need to check net metering policies.
If the sun is not out during the day, your solar panels will still generate electricity. For example, a cloudy or rainy day may mean you produce slightly less energy than a bright and sunny day. That makes solar panels a smart investment both in areas with over 200 days of sunlight and those that are more often cloudy.
Your solar panels will not produce energy at night, as there is no sunlight.
To work, sunshine must hit your solar panels. If debris or snow covers your solar panels, they will not generate electricity until you clear them. Fortunately, most solar panels are easy to clean and sit at an angle that encourages debris to fall off quickly.
The short answer is that yes, you could go off-grid with more equipment. Most people stay connected to the grid, especially in a major city. Remaining connected lets your property draw power from the grid when it does not produce enough, such as at night. It also allows you to use the grid as a battery, so you do not need expensive storage equipment. As a result, most homes and businesses do not need to worry about going off the grid.
Unless you purchase power storage with your solar panel package and disconnect from the grid, your power company will still send you bills. However, solar panels can dramatically cut your power bill or make it so that you owe the power company nothing.
If you do not have specialized equipment, your solar panel connection will be shut off during a blackout. This feature prevents injury to emergency responders and utility workers while they work to restore power. If you would like to use your solar panels during a blackout, you’ll need to invest in an inverter that pairs with batteries and keeps everyone safe. ordion Content
Each solar panel uses durable tempered glass that holds up beautifully in most weather. Most solar panels can go without significant maintenance for the first 25 to 35 years of generating power. In many cases, solar panels are covered by a manufacturer’s warranty. You should always confirm the warranty terms with the company.
Can I Finance My Solar Panels?
Incentives and rebates vary by state and city, and some do offer incentives other than money. However, the federal government offers an investment tax credit for 26% of your initial solar system costs. This credit is a deduction off of your federal taxes, not a rebate.
In general, there are three options for putting a solar power system into your home or business. The first is purchasing the system in cash, which is typically the least hassle. The second involves taking out a solar loan, which allows you to make payments. The third possibility is a solar lease. You must complete the monthly payments with a lease, but you interact with the utility as though you own the equipment. The last option is a power purchase agreement, where you do not own the system on your roof. Instead, you pay to use a specific amount of electricity per month.
The correct answer depends on your situation. If you have the capital and want to maximize your returns, buying your solar panel system outright is probably your best option. On the other hand, if you’re seeking a maintenance-free option or do not have the resources to buy outright, leasing is likely your best choice.
Both options will reduce or eliminate your monthly power bill. However, each has unique terms and conditions, so you should examine the terms for each available in your area. It would be best if you also discuss your long–term goals when making the decision.
A secured loan involves promising an asset, such as your home, as collateral for the solar loan. Meanwhile, an unsecured loan does not require an asset. Typically, unsecured loans have higher interest rates because whoever gives you the loan is taking a more significant risk. That risk applies you have a perfect credit score.
You should always compare options when looking for a solar loan. As banks, specialty financing institutions, manufacturers, and credit unions offer solar loans; you do have many options. However, you want one that fits within your family or business financial plan and ideally one where your energy savings pay the monthly loan payment. tent
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