Installing solar panels on your home can significantly reduce your energy bills. With some smart strategies and lesser-known solar tricks, you can slash your energy costs in half or more. Here's how to maximize energy and cost savings with solar.
Audit Your Energy Use
The first step is to understand your current energy use and expenses. Here are some tips:
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Look at your monthly electricity bills to see your average kilowatt hours (kWh) used per month. This shows your total energy consumption.
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Break down energy use by appliances and devices. The biggest energy hogs are heating/cooling systems, water heater, washer/dryer, and refrigerator.
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Check your electricity rates - both the basic rate per kWh and any peak usage rates. Time of day rates can impact solar savings.
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See if your utility offers a free energy audit to identify efficiency upgrades. This also gives a baseline for energy use.
Auditing energy use shows where savings opportunities exist and helps size your solar system appropriately.
Calculate Your Solar Needs
Once you know your energy profile, calculate the solar setup needed to halve your bills:
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Estimate your monthly solar energy production in kWh based on panel size, sun hours in your area, and direction/tilt of panels.
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Compare against your current usage to see the solar offset percentage. Check solar calculators for help.
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For a 50% reduction, size your system to match half your kWh usage, or more to eliminate bills entirely!
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Factor in future energy needs if buying an electric vehicle or adding appliances. Size up accordingly.
Right-sizing your solar system is key to maximizing savings. Over-sizing can lead to wasted energy and costs.
Shop Around for Panels
Solar panels have dropped in price over 70% in 10 years. But comparison shopping is still important:
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Check prices from national installers like Sunrun or Vivint. Get quotes for panel purchase and/or leasing.
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Look at Craigslist and Facebook Marketplace for used solar panels. Test gently used panels for defects.
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Ask about manufacturer warranties on new and used panels. 25-year warranties are ideal for longevity.
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See if your utility offers rebate incentives for installing solar, potentially offsetting costs.
Checking multiple solar providers ensures you get a competitive price for maximum ROI.
DIY vs. Pro Installation
Installing solar panels yourself can save thousands in labor costs, but has risks:
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DIY installs require technical skill for wiring, mounting, and integrating panels safely.
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Permitting and inspections are still needed, unless panels are fully off-grid. Know your local laws.
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Hiring a contractor provides turnkey installation, warranties, maintenance, and efficiency guarantees.
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DIY can void rooftop or equipment warranties if not done to code. Assess warranty risks.
For most homeowners, professional installation is worth the investment for optimal safety, performance, and protections.
Use Federal Tax Credits
The federal solar tax credit offers major savings:
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Homeowners get 26% of the total solar system cost back as a tax credit through 2032.
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There is no maximum cap on the credit. For a $15,000 system, the credit would be nearly $4,000.
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The credit applies to both property-owner installed and professionally installed systems.
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The tax credit can be carried forward so you still benefit even without a tax liability.
Leveraging federal solar tax credits provides a significant reduction in your out-of-pocket costs.
With smart planning and savvy solar moves, you can tap into major energy and cost savings. Use these solar panel hacks to maximize your investment and slash those electric bills in half! The planet and your wallet will thank you.