OFweek Solar PV Network Translation: Homeowners in the United States no longer need to invest heavily in solar energy. A series of technological advancements, financing options, and incentives have made residential solar systems more affordable than ever before. Here are the steps you can take to install low-cost solar energy.
Get a quote
The best way to determine if you can afford solar installation is to get quotes from multiple solar contractors. A professional solar contractor can analyze local government incentives and/or leasing options for you.
In addition, to determine which residential solar system is most practical and affordable for you, you will need a professional to assess your home’s specific location, sunlight exposure, roof strength, and layout.
Utilizing subsidies and tax breaks
Taking full advantage of various incentives can lower the cost of residential solar systems. The federal government offers a tax credit program that can reduce the upfront cost of a home solar system by 30%. Many state governments also offer generous solar grant programs. These programs have limited funding, so apply as soon as they become available.
Some states also partner with utilities to subsidize each watt of solar power. These programs can reduce solar installation costs by nearly 50%. These programs are very cost-effective, not only reducing solar costs by 43% over the past decade but also boosting the solar industry.
As solar energy companies grow and expand, they become more capable of investing more in researching and developing more cost-effective technologies. Government incentive policies have indeed been successful, but with changing political circumstances, some incentives have been terminated. Therefore, homeowners are advised to take advantage of all available subsidies and tax incentives as soon as possible.
View funding program
Low-income homeowners may be eligible for low-cost or zero-cost solar systems. Some states and utility companies offer special grant programs to enable low-income families to participate in solar energy reform. Eligibility for these grants is typically determined by comparing a family's income to the local median income. Funding for these programs may run out quickly in a given year, so it's essential to apply for the following year's grant as soon as possible.
Other organizations, such as Grid Alternatives, a California-based nonprofit, help low-income families who need renewable energy. They train local volunteers to install rooftop solar panels for these families at minimal or no cost. Organizations like Grid are working to make solar energy accessible to more and more people.
Consider financing options
From the moment a home solar system is installed, household energy costs begin to decrease. Solar power is not only cheaper but also more stable. In the past 12 years, the cost of conventional electricity has doubled in most areas, and it is projected to double again by 2023.
Homeowners don't necessarily need to own their own solar system to save on electricity bills. Many solar contractors now offer residential solar system rental services. The solar company is responsible for installing and maintaining the system, while the homeowner only pays for the electricity generated by the system. Solar rental is simple, convenient, and inexpensive, requiring almost no down payment.
Start small
Solar systems utilize modular equipment. Homeowners can install a small-scale system first, and then add solar panels as the household grows and energy needs increase. This approach effectively utilizes all incentive policies, reducing the initial costs of solar installation.
Re-roofing with solar tiles
Dow solar roof tiles are currently available in the Colorado market and will be available nationwide starting next year. Re-roofing with solar roof tiles is more cost-effective than installing a photovoltaic system on traditional roof tiles. Dow hopes that the installation cost of solar roof tiles can be recovered within the first half of the product's expected lifespan.
More than 75% of American homes can replace their roofs with solar tiles. Homeowners who install solar tiles can enjoy many of the same incentives as those who install traditional solar systems, including a 30% tax credit from the federal government.
