Solar energy continues to grow rapidly and more and more people across New Jersey make the switch to take advantage of the outstanding benefits and great financial incentives. However, because the industry can still be somewhat intimidating for those who are just starting out, the Solar Energy Industries Association® (SEIA) has sought to make things a little bit easier.
To that end, they have recently released their Residential Consumer Guide to Solar Power. This short, eight-page document is packed full of valuable information to help residential solar customers make informed decisions that will help them see the greatest benefit in both the short and long-term. Topics covered include everything from how solar works to the different types of agreements and how to know what’s the best for your home.
On this blog, we’ll take a look at some of the included information and highlight just a few of the most valuable tips. However, you can download and read the entire document for yourself by clicking here!
Types of Agreements
You have options when it comes to switching over to solar, particularly when it comes to the agreement and financing you choose. There are three primary types of solar agreements: purchase, lease, and power purchase agreements.
- Purchase agreements allow to purchase the system in its entirety, panels, inverter, hardware, and more, for cash or more often with a loan, but you own all of the power your system produces.
- Leases work the same, only you pay a reduced fee but never actually own your panels.
- Power purchase agreements allow you to get a solar panel system at no cost, but require that you purchase all of the power they produce for the entire duration of the agreement, which usually runs about 20 years. The cost of the power is considerably lower than public utility prices, and usually the rates are locked in for the entire duration of the agreement.
Things to Consider Before Buying
The guide offered some helpful tips of things to consider before buying. First off, knowing how much electricity you use now will help you anticipate any major changes you have coming up in the near future and accommodate when making the switch to solar (you always want to give yourself room to grow). You’ll also want to make sure you know the cost of your electricity right now.
Second, you’ll also want to know the condition of your roof. Installing solar is a pretty rigorous process, and having to dismantle everything to conduct major roofing services in the near future is often far more trouble than getting the service done before installing solar the first time.
Finally, know your finances and how much you can afford. This should help you determine which type of agreement is right for you as well as what size and type of solar panel system you should get.
Key Questions to Ask
When you’re talking with a New Jersey solar power representative about switching, you’ll want to make sure you ask some pretty important questions. Here are just a few of them:
- What is the total cost of the system?
- How much energy will my system generate in a year?
- Will I be required to make any changes to my home?
- Is the installation company licensed and insured?
- Is performance monitored?
Of course you may have some important questions that are unique to you and your situation when it comes to your solar panel system, and here at SunPower® by Sea Bright Solar, we strongly encourage you to ask them. Our happiest customers are the ones who do their homework, ask questions, and get all the information they need to comfortably know that they’re making a valuable investment in their home and their future.
For more information about switching over to solar, give us a call todayat (732) 253-4052 and request a solar consultation!