Solar energy has been around for several decades, but it's a trend that's finally staying to gain more traction. If you live in a sunny place like Albuquerque, solar energy can be a good investment for your home. In fact, according to Project Sunroof's Solar savings estimator, the average home in Albuquerque can save $14,000 over 20 years by using solar panels.
Even though the cost of solar panels has gone down over the years, they are still a significant investment. Here are some points to consider before you install solar panels on your Albuquerque home.
Is Your Albuquerque Home a Good Fit for Solar Panels?
Solar panels will work great in our desert climate, but your roof may not be a good place to install panels. Tree coverage or age could be two factors making your roof unsuitable. For example, trees may shade your roof too much for roof panels to be effective.
In most cases, solar panels work best on south-facing roofs, with a slope up to 40 degrees. If your roof is aging and needs replacing, this may make it unstable for panels.
The alternative for roof panels would be ground-mounted panels or a community solar garden.
When Do You Plan to Move?
If you plan to sell your home soon in Albuquerque, solar panels would not be a good investment. They are an investment that will only pay off if you stay in the home for at least 8 years after you install them. It usually takes around seven to eight years to pay off the cost of solar panels. If you’re going to move any time soon, not only will this investment not yet have paid itself off, but you may limit your pool of interested buyers when you hit the market.
What’s the Weather Like?
If you live in Albuquerque, you already know the weather is ideal for solar panels.
Will You Qualify For Financing?
There are flexible options to help consumers afford the initial, upfront costs of solar panels. There are financing options, and there are also state and federal tax credits and incentives available. You should explore what you qualify for. Otherwise, you’re going to pay a lot out-of-pocket upfront and you may not have the cash sitting aside to do that.
Many of the solar financing programs are state-based loans. There are also power purchase agreements and leases available.
Are There Quality Installers in Albuquerque?
There are a number of highly rated solar panel installers located in the Albuquerque area. You will have no problem finding an installer that's right for your home.
The Benefits of Solar Panels
While the above are questions to ask yourself, there are benefits of solar panels including:
• Reduced electric bills are one of the biggest reasons homeowners opt to install solar panels. Over 20 years, you could save around $14,000.
• Solar panels allow you to be energy independent.
• You can reduce your carbon footprint when you go solar.
• Solar panels are almost entirely maintenance-free.
Solar panels certainly have pros and cons. While they don’t work for every family or home, they can have big advantages in some cases, making them a worthwhile consideration.