When you install solar panels on your home, you start saving money on your electricity bill immediately. But with the average cost of solar panel installation running close to $11,000, finding ways to save money when buying your new panels is always a priority.
Unfortunately, figuring out how to save upfront isn’t as simple as it should be. But it can be done.
Here are a few proven ways to help you get the solar system your home needs without forcing you to overpay.
Get Quotes From Several Providers
Though most solar panel systems work the same way, companies charge different rates for both the panels and the installation appointment. Use this to your advantage.
Get quotes from at least three solar system providers.
Look at the rates they offer for the panels, the installation, ongoing support and maintenance, and any other fees associated with their services. You’ll want to choose a company that offers an affordable price and provides you with the highest quality installation possible.
Look at Your Financing Options
If you have the cash on hand, paying for your panels upfront will almost always save you money in the long run. However, with the prices being so high, you may want to look at financing your new solar panel system with a loan.
If you’re considering a loan, don’t panic. It’s one of the most common purchasing options that solar companies offer. Just take care to compare your options carefully.
Look at the interest rate the lender is willing to give you and consider how long you’ll have to repay the loan. As a general rule, you’ll want to choose the financing option that gives you the lowest interest rate and best repayment terms.
Pay Attention to the Warranty Options
Few things are worse than having to pay for new solar panels or components immediately after your system is installed. Reputable manufacturers and solar installation professionals offer warranties on their products and their work.
Before you get your system installed, ask for information about the warranties the company offers. If anything happens to the panels or the installation causes damage to your roof or home, the warranty should help cover the cost of any repairs. These warranties and guarantees can end up saving you thousands.
Ideally, you’ll want to choose solar panels and components that offer long-lasting warranties. This way, you won’t have to pay for any replacements out of pocket for years.
You Can Save Money When You Install Solar Panels
Making the decision to install solar panels on your home is a great way to save money on your electricity bill for years. As long as you keep these tips in mind, you’ll be able to save money on the installation and purchase of your new panels so you can go green without breaking the bank.
Keep in mind that installing solar panels is just one way to make your home more eco-friendly. For more tips and tricks to help you reduce your carbon footprint, check out our latest posts.