living in Texas means there is going to be lot of sun and opting for solar makes lot of sense. However, there are a lot that you might not know and hope this covers all important factors that we as home owners would typically should have the knowledge before going solar!
Worth: Is it worth my money? Typically, with an offset of 70% its calculated that you would get a return of investment in about 11-13 years. It’s mentioned in general that it increased the house value unlike other enhancements to the house, this one pays for itself over the years.
Cost: How much? It depends on what KWH you want to go. Simple math is about $ per KWH. So, if your average monthly use in KWH is say 1200, it averages to 40 Kwh per day (1200/30 days). And each KWH of panel will produce anywhere between 4.5 to 7kw on a sunny day. Keeping an average of say 5, you would need 8 KWH producing panels. Current average is 2100-2800 $ for every KWH production capacity. Now you can do the math. Most installation providers give finance options while cash gives best price.
Battery: Should I buy battery? If you are looking at ROI (return on investment) then No! and it always means if the power gets cut from the grid, your solar will go offline as well. If you are looking at features and eliminate dependency on the grid then Yes! Also, most energy utility companies do net metering, that is you can use the energy that’s over produced in day time, can be consumed at night time. And it gets usually consolidated every billing cycle.
Panel Orientation: Which direction should my house be facing for best benefit? Irrespective of which direction the house would be facing, the solar would be installed in best output location that is something that gets most of the sun! South east, south, south west and west
Production: Over produce / Under produce? if you under produce, you would be paying for the delta. That is, you used 1400 but produced 1100 kwh, you would be billed for 300 kwh by your energy company. On the other hand, if you over produce, some energy companies pay the producers and some do net metering and other just lapses.
HOA: Solar installation needs HOA Approval. And for PCR you would need to submit one with the design that would be provided by your installation provider along with ARC Modification Request form. And your Survey document.
Life: Solar panels usually comes with warranties that last 20-30 years and the inverters 10-15 years. Check with your service providers for exact details.
ROI: You shall have the return on investment by about 10-16 years based on the incentives, production, Inflation (energy cost), Finance. However, it does give a certain feelgood satisfaction knowing you are leaving a little lesser carbon footprint.
Approvals: Other than HOA Approval, everything else would be cared by your Installation provider. It may happen that you might be requested to sign some documents time to time as you walk thru the process.
Incentives: Currently per research, Federal energy credits 26% back for solar in the year 2021. And most energy companies open up incentives by the end of first quarter but will have of limit quantity and first come first serve basis.
https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics
Timeline: Totally subjective to the installation provider. However, there are some processes that will take anytime between a month to 3 months in total. However, once the installation is complete, by another 7-10 days you shall benefit from the sun.
Recommendation: My recommendation is for Tesla. While I would personally give a 4 out of 5 starts for tesla with my experience. And from what I have seen they are the most cost-efficient service providers. Here is the referral link, which will provide you some incentives if you choose to go with Tesla. Also, Tesla has a nicer looking panels and skirt finish that other provider may or may not offer.
Jay – can hail damage solar panels?
Technically yes. And should be accounted as part of room damage estimate. When solar panels are added, make sure to call the insurance company to confirm if the panels are covered as part of your existing insurance.