Are Solar Panels Right for Your Home?
If you live in a sunny state like Florida or California, you’ve probably heard a thing or two about the benefits of going solar. Harnessing the power of the sun with a solar photovoltaic (PV) system can reduce your electricity bills and protect you from rising energy costs. Plus, going solar can reduce your carbon footprint, and maybe even increase your home’s resale value.
Solar is also one of the smartest investments you can make in your home. In Florida, for example, homeowners who spend $200 a month on electricity can expect an average payback period of about 9 years for solar. Homeowners in California, meanwhile, can expect an average payback period of just 6.4 years.
But is your home a good candidate for solar? Can you expect these types of perks with your own solar electric system? And if so, how are you going to pay for it?
Factors to Consider When Going Solar
Going solar with your home’s electricity needs depends on a number of key factors.
Sunnier regions benefit the most from renewable solar energy. Florida sees an average of about 2,927 sunlight hours per year, and California sees about 3,055 sunlight hours per year — both significantly higher than the national average of about 2,660 hours.
South facing roofs are best suited for solar. However, even if you don’t have a south facing roof, there are still many ways to bring the benefits of solar to your home.
If your roof could theoretically fit three cars side-by-side, it’s probably large enough for solar panels. The best roofs for solar are relatively clear of obstructions; though it’s possible to work around pipes and chimneys.
Some roofs are heavily shaded by large trees or other nearby buildings. In order for solar panels to be the most effective in providing your home with renewable energy, you will need at least 4 hours of peak sunlight on your roof. If your roof is too shaded for solar, ground mounting your solar electric system is also an effective option.
What You Can Learn during a Solar Assessment
If you’re wondering whether a renewable energy system is a wise investment for your home, now’s the time to schedule a solar assessment with a local solar company. During your solar assessment, a solar contractor will come to your home and gather information to determine your property’s solar potential. Typically, solar contractors study the roof, unique property factors, average monthly energy usage, and available rebates and financing options in your area to give you a clear picture of what your custom solar system will look like.
Smart Financing for Your Solar Investment
If you’re considering making the switch to clean and renewable solar power, the next step is to determine how you will finance your solar investment. Fortunately for homeowners in Florida and California, applying for financing is simple with Renew’s PACE financing programs..
Renew Financial offers smart and simple financing for homeowners who are installing solar. You can borrow up to 20% of the value of your home with no money down — and then pay it back over a 5- to 30-year period as a line item on your property tax bill.