There is no doubt installing solar is not for everybody. It really comes down to your location, income and lifestyle, but for those individuals or companies who fit the "solar profile", the current savings can be extraordinary.
Between Federal Tax Credits, and state and local incentive programs it is common, in most states, to off-set solar installation costs by 50% or more.
So why should you install solar? Well, sooner or later, you will have free energy or substantially reduced energy costs, and with energy costs rising, such a saving is no small matter. You can also sell any excess solar energy back into the power grid.
It is also worth noting... solar energy also provides energy backup during brown-outs and power outages. Just think, you can have the whole neighborhood over, enjoying your cool house during a summer power outage.
For DIY kind of people, solar is a natural. You will have to get a local building permit and get a licensed electrician to tie into your meter (power grid), but solar panels and equipment are not all that hard to install. An experienced carpenter, for example, can mount panels and auxiliary equipment (e.g. inverter) with ease and leave the wiring to a professional.
As for financial timing, solar products are at or near the rock-bottom price. This is a fact and not sales hype. Likewise, energy prices remain relatively low, for now, but can rapidly escalate. Energy, overall, really depends on the price of oil, so make your own judgment. If oil, and thus energy goes through the ceiling, so will solar pricing. It is just a simple matter of economics.
Another issue, concerning solar incentives, is income. You have to have the income to enjoy the current, solar tax incentives. Please keep this in mind if you are near retirement, and planning to install solar in the future.
I recommend ground mounting, if you have the room, as opposed to roof mounting. This allows for easy panel service and monthly cleaning... a must if you want to maintain good solar panel efficiency.
My home owner s insurance covers solar panel replacement in case of damage, particularly from hail. I recommend you check your home owner s policy for this same benefit.
As a final note, you want to buy only quality solar equipment with a good warranty. Currently, a good solar panel will guarantee 90% rated output up to 12 years and 80% output from 12 to 25 years. Likewise, good inverters carry a substantial warranty varying from 2 to 5 years. Be sure to check warranties before you buy any solar products.
Last, but not least, please check out my solar tax incentive forum.
Solar Blog
by
Jim Osborne
of Unity Solar C0-Opt
(
20-Apr-2012
)