The cost of electricity from traditional sources is not going down anytime soon. As a matter of fact, there are years when the increase in the price of electricity exceeds inflation in the U.S.
This is perhaps the reason you are thinking of calling a residential solar power company in New Jersey, to see if the installation of a solar power system in your home is worth the trouble and the initial expense.
Should You Install Solar Panels?
The short answer is yes, definitely, but that may depend on a few factors. The three primary considerations are the following.
First of all, you have to be able to afford the system and its installation. An average 3kW system, which is common in most residential applications, does mean an investment. You may, however, get the system through financing or a loan. You should talk to the solar power company’s representative before deciding.
There is also the matter of solar rating in your area. A good solar rating is, of course, an indication that you can take full advantage of your investment. You can check here for your area’s solar rating.
Plans to Sell
You might not be able to recoup the cost of the solar system if you sell your home down the road (in 15 years or sooner).
Who Should Get a Solar System?
Let’s say you have the money to invest in a solar system, your area has a great solar rating, and you are not looking to recoup the cost of the system by selling your home, then you should seriously consider getting a solar system.
The best candidates for a solar system are those who intend to stay in their home for a long time, as they have enough time to enjoy the system and recoup the cost of installation through savings on utility bills and possible incentives.
You may want to find out if there are incentives for installing solar panels. Some states offer incentives, while some even allow the homeowner to sell excess generated electricity to local utility companies.
On top of all that, if you are looking to reduce your home’s energy usage and deflate your carbon footprint, a solar power system is a great investment.