If you live in a neighbourhood with a homeowners association, you may need to get permission to install a solar panel. Your association or HOA can also require you to get approval from an architectural committee or board. These bodies will process your request using a structured approval process. Homeowner solar projects can be beneficial to the environment, as they save homeowners a lot of money in the long run. In addition, the solar panels can reduce carbon emissions. Many states are now recognizing the benefits of solar energy.
Many homeowners finance their solar energy installation with a home equity line of credit or home improvement loan. Others prefer to lease their solar system. If you choose to lease your system, the leasing company will own it, so you will not have to worry about paying the upfront cost. However, you must remember that your solar system will be on your credit report. This means that you may have a hard time getting bank financing for your solar project. To make sure your solar system will be included in your resale, check with your lender and see if they offer financing for solar installations.
Although solar systems are becoming more affordable, the initial costs can be significant. If you want to avoid a large upfront cost, you should consider installing a system that is large enough to offset peak energy usage. These peak times are when utilities tend to charge the most for energy. You may also want to consider tying your system to the utility grid. This way, if you have excess electricity, the utility company will buy it.
Homeowners should also take into consideration the size and orientation of their roofs. Because the solar panels need to receive sunlight, they cannot be installed on a roof with too much shade. If your home is in a place that receives lots of sunlight, it may be best to install them on a south or east-facing roof.
Solar panels also increase your homevalue. Most buyers consider solar panels a desirable feature. As a result, adding solar panels to your home will add value to it and give you a return on investment if you decide to sell. You may even consider installing a solar panel system before selling your home.
There are several different financing options for homeowner solar projects. You can choose to pay monthly payments or enter into a power purchase agreement. In the first case, you may have to pay a down payment. The initial payment is often less than what your utility charges for the same amount of electricity. You can then increase or decrease your payment according to the rising cost of electricity. The lease term is typically 15 to 25 years.
When choosing a company to install your solar panels, be sure to ask about warranties and experience. Many manufacturers offer a warranty on their products. If there is a warranty on the equipment, make sure that it covers labor costs. Otherwise, you may end up paying more than necessary.
