Why not use power thats available to us that comes from the sun?
It depends on where they live, the design of the home, the installation cost and expected savings.
No Interest Til Almost 2027?
Technicians from Solar Source install solar panels on a house in Dunedin, Florida. Chris Zuppa/The Penny Hoarder
It may seem obvious, but access to sunlight is important.
If your roof is deeply shaded by trees, mountains or buildings, solar panels wont work well.
Its important to have a basic idea of how the panels work as well.
At times, the panels will produce more electricity than is needed to power a home.
The extra electricity can be sold back to the power company in an arrangement called net metering.
Its a big commitment.
Wendy Barsell, executive director of the Florida Solar Energy Industries Association, a trade group, agrees.
Her advice applies to consumers in all states.
Ask homeowners who have bought the panels how well they are working.What are the benefits and drawbacks?
How long did the installation take?
Did the installer do a good job?
Was the power company easy to work with?
How much money are they saving?
You should also check with your state to see to it the contractor is licensed to perform solar installations.
Licensed contractors generally must carry insurance, but homeowners should verify that they do.
The bigger the system, the more energy it produces (and the more expensive it is).
Dont sign a contract unless you understand everything, including your expected return on investment and break-even point.
That eliminates finance charges and allows you to take full advantage of the federal tax credit.
Additional options include aclean-energy mortgagethrough Fannie Mae.
Property Assessment and Clean Energy (PACE) lending programs also are available in more than 20 states.
Theres a lot of issues to consider, Grant says.
Thats why states are enacting disclosure laws that must be given to the consumer.
Solar is a good thing, but its complex and people really need to understand what theyre getting into.
Explore whether your state offers itsown tax incentives.Rebates, low-interest loans and grantsmay also be available.
How old is your roof?Solar panels have an expected life span of about 25 years.
Thats why some experts say its safest to stay put until the panels pay for themselves.
Ask about maintenance.Some companies say the panels must be washed regularly and offer that service for a price.
But Savadel says rain usually washes off bird droppings and other routine dirt.
check that your homeowners insurance company will insure solar panels.Not all do.
What if the Power Goes Out?
But thats not the case.
Unlike a generator, no fuel is needed.
Marks, the Florida retiree, opted for a battery.
She and her husband also own an electric car.
For them, going green is at least as important as saving money.
Were going to keep trying to reduce that carbon footprint and power ourselves, she says.
Susan Jacobson is a former editor at The Penny Hoarder.
