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Solar panels present an attractive option for homeowners due to their affordability and sustainability. Moreover, they require no maintenance and can last for decades without needing any repairs or replacements.
“Expenses are going up, so I feel for the average homeowner,” says Asim Hafeez, owner and operator of Empower Energy, a company that oversees every aspect of solar-panel installation, from conducting initial consultations and securing the necessary permits to putting the panels in place. “Homeowners are stuck with increasing electric bills. If people can save money and use it for their everyday lives by installing solar, that’s a huge win.”
Indeed, solar panels promise a variety of benefits, both for people and the planet.
Empower Energy solar panels are a good investment
Solar panels are a good way to save money because they eliminate electric bills from utility companies while still providing all the energy a household needs. “Over 95% of customers get solar because they see immediate savings through $0 down solar options like financing, leasing, or PPA,” Hafeez says. “This way, they don’t have to put any money down and once the system is installed, they can begin to see a lower cost of power in year one via their new solar panels.”
As an added benefit, installing solar panels also helps homeowners build equity and increase their home’s value over time. As an article in Forbes states, “According to the National Renewable Energy Laboratory, every dollar that a solar panel saves you on your electrical bills increases the value of your home by $20. And according to Zillow, homes with solar panels sell for four percent higher than those without them.”
For homeowners that choose to pay for the solar system upfront, the good news is that most solar panels pay for themselves in 8 years or less. Because Empower Energy only uses Triple Black Tier 1 solar panels, and only uses panels and inverters with a 25-year manufacturer warranty, their solar systems’ projected lifespan is well over 25 years.
Empower Energy solar panels are good for the environment
Since solar panels generate electricity from the sun, a renewable energy source, they are also better for the environment. According to Hafeez, an Empower Energy solar panel system saves 114,870 lbs of coal from being burned — equivalent to 11,683 gallons of gasoline — over the course of its lifetime, preventing 104 metric tons of CO2 emissions from being released into the atmosphere as a result.
Solar panels can be used to power homes of virtually any size. The amount of power they generate depends on the size of your system and factors like roof pitch and tree shading. Empower Energy’s website includes a tool that uses satellite imagery to estimate the number of solar panels that can fit on your roof and if solar is a good fit for the house.
Even if your home might only be able to host a small solar system, you would never have to worry about running out of power. “If you consume more power than the panels produce, then you get the excess energy from the utility company as normal,” Hafeez explains.
Government incentives for owning solar panels
If you think transitioning to solar would be prohibitively expensive, think again; the government can pay for 30 percent or more of the cost of your solar panels. A number of incentives are currently available, including rebates and tax credits.
In addition, Empower Energy offers four different ways of getting solar for customers on its website, presenting solutions that fit every household’s particular situation. The first option allows customers to purchase the solar panels outright and own them going forward.
The second option allows customers to finance the system. Empower Energy partners with quality financial institutions that often enable clients to finance their purchases with nothing down and no payments for the first 12 months.
“We feel good about what we can offer our customers,” Hafeez says. “Customers can pick from different financiers, some of which are banks or institutions that specifically invest in solar. When we do an estimate, we can show customers three or four of these financing companies and see which is the best match for them. The length of the loan depends on consumers’ preferences — some want to pay down their loan faster, while others want the lowest monthly payment.”
According to Hafeez, how much people pay depends on the size of their system and how much energy they use. “We design systems to fit their needs,” he explains. “On the low end, these monthly payments could be $50; on average, I’d estimate $130. The savings end up being significant because the monthly payment for solar financing would be a fixed monthly number rather than a utility bill that often goes up yearly with inflation. Compounded year-over-year increases from the utility company can cripple a household budget, so having a locked-in cost of power through financing, lease or PPA is the main reason why so many people get solar.”
By going the solar loan route, homeowners can take advantage of government tax credits and incentives while incurring no upfront costs.
Debt-free options for installing solar panels
With the next two options, Solar Power Purchase Agreement (PPA) and Solar Lease, a solar company would own the panels. This allows homeowners to avoid debt while starting to save money from the very first day.
“The solar company sells energy to the consumer for a lower price than a utility company,” Hafeez explains. “Utility company rates vary across the nation, but in most markets, consumers can save 25 to 35 percent just by giving a solar company permission to keep a solar system on their home.”
While leasing solar panels entails a fixed monthly payment, PPA enables customers to pay only for the electricity they use. With options like these, there’s never been a better time than now to think about getting started with your own solar panel system
To ensure the product meets the highest quality standard, make sure you get your services from a reputable solar installation company.
