Will Solar Panels Save me Money?

Dated: October 5 2021

Views: 120

Thinking about buying a New or Existing Home and installing solar panels?

Everyone is ranting and raging about Solar Panels and how much money they will save you on your electricity bills. The truth is that they do save you money on your electric bill but is it worth the cost of installation, financing and monthly payment of the panels? Most of the Solar Panel Companies I spoke to stated that you can pay for them up front or finance them over a certain amount of time and that you can somewhat average out the monthly savings based on the size of your square footage and the amount of panels you install. However, you have to consider all of the variables before you make the leap to purchasing Solar Panels in your home.  When speaking with a Solar Panel expert the following information is suggested that you ask or research up front. 

1. For you to know exactly how much savings solar panels will save you on a monthly basis you should ask your Solar Rep if the age of your home matters because no matter how awesome and how many panels you install on your existing home you have to take the condition and age of your home into consideration. You will not know how much exactly the panels can save you if you have not worked on the energy efficiency of your home first.  Work on the energy efficiency of your home then install the panels.  To have an energy audit performed on your home you can call a local Energy Auditor to come out and inspect your home and give you a report. Yes there is a fee for this. It depends on the square footage of your home. Age does not matter. A company you can call to set an appointment is www.greenleaf-energy.com. If your home is not in energy efficient condition you can make the necessary repairs after speaking with the Energy Auditor. 

2. You then want to call your electricity provider and ask them if they have a Renewables Department that has an Agreement that will give you credit for the electricity the solar panels will generate. This is called an Interconnection Agreement with our Provider. Read it here Interconnection Agreement .  Once you have sent them all of the information on the Solar Panels that were provided to you from your Installer Company and have filled out the agreement they will send out an inspector. The inspector verifies all of the information and submits the information. Once you are approved by your electricity provider they begin giving you credit. This Credit is applied to your bill. Read more about it here. HOME RENEWABLES & GREEN RATE

3. Assuming that your home is energy efficient, you have read the Interconnection agreement, you can then ask your Solar Representative to come out and give you a Bid. During this consultation you can ask how many panels you should install based on the square footage that you have and you can even talk to them about your conversation with the electricity provider.  They will give you the amount of Panels recommended, The Cost, The Wattage and the cost per wattage.  Some reps have a minumum panel install in order to see a difference in Energy Savings. The monthly savings and usage can be verified in your electricity providers account on a monthly even daily basis. To speak to a Solar Provider go here.  Alba Energy Solar Power Company

You also want to know that even though you may have the most energy efficient home there are still other variables you have to take into consideration like how much energy your lifestyle actually uses.  If you control your thermostats settings through out the year and remember not to leave the lights on all the time then you can increase your savings. 

Last but not least do not forget that there are Tax Savings to Installing Solar Panels in your home. One is a credit that your city may offer. Ask your city what their rebate program is and how you can qualify for it here: Apply For Your Solar Rebate Here. In addition to the Rebate given by your city there is also a Federal Tax Credit you may qualify for. Read further here  Solar Panel Federal Tax Credit.  So in addition to the monthly savings on your bill you can also receive a rebate and a tax credit.  Also, these programs may be for a limited time. Some have expiration dates. 

Once you have installed the Panels Enjoy Your Savings!

Ready to make a Move? Contact me today!  Contact Me

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Esmeralda McGee

My name is Esmeralda and I am a Native Austinite. I am a Broker Associate and Investor at EXP Realty.  I Love Helping Sellers and Buyers make a change by providing them with Selling and Buying St....

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