How To Finance Your Solar Energy Goals

Transitioning from grid electricity to solar energy is an expensive move and one that requires planning and good budgeting. Though the advantages of solar energy are clear for all to see, it is these financial complications that make it harder for people to begin to make the transition and instead rely on more expensive grid energy which adds to their monthly expenses. Getting an average solar installation costs about $45000 and $100000 depending on the size of the building, amount of electricity you want to produce and the size of your roof. Therefore, to make these expenses worthwhile, then you need to make some prudent financial decisions first. 

Ensure a Smooth Transition From Grid to Solar

One tip of making the costs easy on you is to simply do the installation in phases according to your financial position. You don’t have to fully transition in one swoop and instead, you can phase out smaller functions such as your home security, lighting and alarm towards solar, as you add more solar panels in the future. Solar panel companies allow for such an arrangement since you can easily scale up on a feasible payment plan. 

A smooth transition also allows you to wait out for grants and other financial incentives such as tax rebates from the government. As you are looking for a San Jose solar panels companies, try and ask whether they are aware of any financial incentives or grants on offer that will give you discounts. Most solar companies are willing to offer such information since they will receive the paychecks directly from the government and they can also claim some incentives on their own. Some incentives can cut back your installation spend to about 30% and this is a huge saving if you take into account the massive cost spend at the initial phase of installation. 

How to Benefit from the Warranties

Most solar companies offer a warranty of about 25 years on the solar equipment and service. This is enough time for new technology to come and replace older solar technologies and you can use this period to make the best of your solar system installation. The first tip is to make sure that the warranty is a guaranteed term in the contract and that only the best components can be available. It is an advantage if the solar panel company is affiliated to solar companies or component manufacturers. 

An affiliation will ascertain you that the components will be available for the duration of the warranty and that they can be easily replaced with better components within the structure of your current agreement. 

You can also use the guarantee to form part of your estate or asset appraisal and this means that the solar system you have installed will form part of your valuation. This can easily add an extra 20%-35% on your home valuation and you can recoup this by either taking a second mortgage to invest in other assets or when you eventually sell off your property. 

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