As of 2021, 8% of Americans had solar panels installed on their homes, and that number grows every year. Solar panels provide the perfect way to power your home sustainably while saving money. However, most homeowners don’t have enough information about the topic to make an informed decision. At Good Faith Energy, we can help equip you with the knowledge that will help you evaluate if solar energy is right for your home. Read on to learn more.
How does solar work?
Everyone knows that solar panels use the sun’s energy to create power. When sunlight hits a photovoltaic solar panel, the cell absorbs photons from the sun, which then initiates an electric charge. That electric charge then travels into your home’s electrical system to power everything from your HVAC system and refrigerator to your cell phone charger and smart speaker. Depending on how much power the system produces, some might go into a battery system or back into the electrical grid.
What are the benefits of solar energy?
Solar panels benefit your wallet and your daily life in many ways. Here are just a few of the main advantages of solar energy:
- Long-term energy savings – Each month, you’ll save on your energy bills. Plus, you can take advantage of any current tax incentives!
- Less reliance on the power grid – If you have a battery system, you’ll have power for your home and all the appliances in it even when the power is out.
- Increased home value– If you plan on selling your home at some point, solar panels will help it command top dollar.
- Environmentally friendly – Anyone who likes to make decisions to benefit the environment will love going green with this sustainable power choice.
How much can I expect to save?
Your savings will depend on various factors, including how much energy you use, the size of your energy system, the size and angle of your roof, and the amount of sunlight that hits it. You also need to factor in the cost of utilities in your area. The good news is that Texas gets many hours of direct sunlight, especially compared to other parts of the country, according to Energy Sage. The best way to find out how much you can save is to contact Good Faith Energy.
Is my home suitable for solar panels?
The size, angle of your roof, and direction of your roof planes can impact the effectiveness of solar panels, so some roofs may not be suitable. We only recommend solar panels for roofs with a slope between 15 and 40 degrees, but flat roofs can also be accommodated with appropriate mounting equipment.
If your home is surrounded by trees or other impediments to direct sunlight, it may not be suitable for solar panels. Services like tree removal can sometimes eliminate barriers, but this will be an added cost that you will want to factor in. Additionally, if you’re part of a homeowner’s association, they may have rules that attempt to prohibit you from installing solar panels, but in the state of Texas, they cannot stop you from doing so.
A professional solar panel company like Good Faith Energy can assess your home for suitability and let you know if solar panels make sense. Even better, if solar panels are not a good option for your roofing system, we may be able to provide you with a Tesla Solar Roof instead.
How do I choose the best solar panels for my home?
Monocrystalline, polycrystalline, and thin-film solar panels are the three main types of solar panels available on the market today. While you should only choose solar panels for your home based on a professional’s recommendation, we can briefly go over the features and advantages of each to better equip you to make your decision.
Monocrystalline Solar Panels
Monocrystalline solar panels are the most common and efficient solar panels. Made of pure silicon crystal, these cylindrical panels can generate as much as 300 to 400 watts of power each! In addition to their efficiency, monocrystalline panels can last as long as 40 years. Like any wise investment, these solar panels come at a higher price tag. That’s why we can help you find current tax advantages to defray the cost of installation.
Polycrystalline Solar Panels
The second type of solar panels are polycrystalline panels, which cost less to install. This often makes them the best option for homeowners who can’t afford monocrystalline solar panels but still want to enjoy energy savings and utilize a sustainable energy source for their homes. Compared to the previously stated 300 to 400 watts of power, polycrystalline panels each generate around 250 watts of power. You can expect this type of panel to last around 25 years before degradation.
Thin-Film Solar Panels
Thin-film solar panels are the last type of solar panels we would like to bring to your attention. Lightweight and made of flexible materials, thin-film panels are the most affordable option of the three. This type of panel will last around 10 to 20 years.
Each type of solar panel will come with a warranty, so this is a factor we can discuss during our consultation. At Good Faith Energy, we are certified to install all of the major types of solar panels and can recommend the right one for your home and budget.
Can I get financing for solar installation?
If you’re purchasing a new home, you can include the cost of solar installation in your mortgage with a loan from Fannie Mae or the Federal Housing Administration. Existing homeowners can apply for a solar loan with our solar loan partners assuming you meet their credit requirements. There are several different terms and rates that you can choose from and that we recommend so be sure to ask your Good Faith Energy Solar consultant for more details.
Are there tax incentives in Texas for installing solar panels?
Yes, tax credits are available for installing solar panels, you must carry a tax liability in order to qualify. After all, it is a tax credit, not a rebate. Currently there is a 30% federal tax credit applied to the complete cost of the installation which also includes the roof if a new roof is installed at the same time as the solar system. If you tie solar powered battery backups to the system such as the Tesla Powerwall, or the Franklin WH system, you can even include the cost of those towards the 30% credit. We suggest perusing this guide to learn about the current federal tax credits and always consult with your tax preparer before making large purchases like this to ensure you qualify. If you want more information or need clarification, give Good Faith Energy a call. We can help you explore your options.
How will solar impact the resale value of my home?
Solar panels are an attractive feature for potential home buyers and will increase the value of your home. A Zillow survey found that solar panels increase the value of a typical home by an average of 4.1%.
Contact us today for a consultation
Homeowners in Dallas, TX can turn to Good Faith Energy to increase the value of their homes, enjoy long-lasting financial savings, and benefit the environment. We provide residential and commercial solar roofing services as well as replacement roofs and solar storage to help you make the jump to this sustainable energy source. Call us today to schedule a consultation or fill out the form on our website.