We are finding more and more homeowners that are looking to install solar panels to decrease their future unknown cost of electricity. Things to consider when looking for panels.
Company- Which solar company should we hire? Wither you choose a local company or a national company, find a good company that has a track record and has been around for a few years. After all, you want to make sure you hire a company that will be around in 25 years and that will actually honor your panels’ warranty. Of course, we know that is unpredictable, but it’s a concern we all have.
Financing- Some people pay for this outright with cash. While others use a HELOC to pay for the cost. Note, if you’re using a HELOC, most times they are adjustable rates and with the rise of interest rates its important to ensure you can afford this cost. Some companies offer financing with a set interest rate that might sound more attractive.
Rebates- Make sure you optimize your government and state rebates. Ask the company you interview to see how they can help you maximize your savings. Also check with your local state government as these rebates have been changing year to year.
Timing- How backlogged is the company you are using. This can be an important factor because if the rebates are only good until the end of the year and your solar doesn’t go up for months, you could miss out on collecting your rebates. Another factor is the feds are raising the interest rates every quarter. So you could be financing at a higher interest rate if it takes too long.
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