There are several Federal and State incentives that make acquiring a residential solar system easier than ever, such as the Federal Solar Tax Credit.

You can read more about these incentives here.

The energy produced via solar PV is direct current (DC), which is then converted to an alternating current (AC) — which powers our homes — by the solar inverter. That energy is then fed into the main electrical panel to be consumed by your home — consumed by appliances, lights, etc. — or sent to the electric company through the grid for Net Metering credits.

About half of the energy your solar panel system produces is consumed immediately by the home, but the rest is sent to the utility company to generate credit at rates close to, or equal to, retail rates for electricity. These credits are then used later at night when the solar panels aren’t producing electricity.

You can learn more about the current Net Metering and how it affects solar homeowners here.

Leasing a solar energy system for your home will save you money on your monthly utility costs as well. While the savings are usually a little less attractive than owning solar panels, you’ll still save significantly over the traditional costs of electricity from the utility. Leasing carries several other advantages, including worry-free system performance for the length of the contract. That means any equipment maintenance or replacement, even after the product warranty expires, is the responsibility of the leasing companies.

Lease terms tend to be 20-25 years and often come with a production guarantee. For homeowners who cannot absorb the Federal Tax Credit, leases are an attractive option. A solar lease allows the third-party owner (TPO) to absorb the solar tax credit, then pass some of the savings on to the homeowner.

These are great options that carry competitive interest rates as low as 1.99%. Financing options still allow you to take the Federal Solar Tax Credit — PACE programs, such as HERO and YGRENE, are also available to fund your residential solar installation and other energy-efficient home improvements through your property taxes.

By attaching the loan to the property instead of the individual, these programs have lower qualification standards and don’t include credit scores as a deciding factor. Though interest rates tend to be higher than other loan options, they also carry some added tax-deductible benefits (consult your tax professional for more information).

You can read more about the PACE program here

Most solar panel warranties include a 25-year performance guarantee in their product warranty, with degradation of less than 1% per year. Performance of all solar panels gradually declines over time, to about 80% performance after 25 years. When considering the product warranty, company stability, and history becomes another piece in the equation. You’ll want to be confident that the company will be around to honor the warranty in the future.

Industry leaders that produce the best-performing products and hold significant market share, such as SunPower, are a great example of a healthy company.

At SolarTech, we offer several solar panel options to achieve your solar goal, whether it’s getting the most cost savings or owning a best-in-class renewable energy system.

Optimized central inverters are string systems with panel-level performance optimizers. This allows each solar panel to produce electricity independent of typical string system limitations.

Micro inverters, the most common choice for residential solar energy installs, convert the electricity from DC to AC at the source, allowing each solar panel to achieve the best individual performance possible. Micro inverters are especially effective for multiple-array systems, such as those with panel systems facing East and West.

As the cost of credits provided by the grid under the new NEM 3.0 was greatly reduced, the smartest decision for solar homeowners is to store their excess energy, and use it during peak hours, thus saving more money at the end of the month in their utility bill.

A variety of new energy storage unit models are being produced today, each with its features and efficiency. SolarTech designs every system to be storage-ready and provides the best options in the market that will fit your energy goals and budget.

Learn more about what energy storage units we recommend here.