With no shortage of sun, Las Vegas, Henderson and the surrounding area has turned into one of the most popular areas in the Unites States to convert to solar.
With the volume of sunny days we have, the kilowatt hours (kWh) produced per panel are often times far greater than in most parts of the country leading to, in many instances, greater benefits including more significant financial savings.
The first things many look at when going solar are the economics and the environmental impact of transitioning to renewable energy, then they consider their options to make the transition (like leasing or owning), should they determine it makes sense.
From an environmental perspective, every home that goes solar has a tremendous impact. The water saved, the emissions reduced… massive. This is truly one of the most significant and powerful ways humanity can slow global warming and usher in a far more sustainable future.
On an economic level and in consideration of current net metering, cost per kWh (kilowatt hour) to install solar, tax credits, rebates and possible impact on home value, the argument can be made that there are few transitions that can be made with the benefits of going solar, especially considering many options to go solar require no money out of pocket to get started. You’re basically redirecting money you’ve already been spending, perhaps directing less and capturing the benefits above while doing so.
With all that said, you definitely want to have a game plan together so everything works for you and your circumstance in the most beneficial way.
Below are a handful of things to keep in mind…
Not all solar systems are the same. You definitely want to do your homework and find the equipment that will achieve your goals for it. Do you want the cheapest cost everywhere (monthly and system) at the expense of longevity or is it most important, your system generate reliable power for possibly generations to come?
You’ll also want to be very aware of the risk and rewards of various installers. Does the national company understand local regulations? Can the local company be cost competitive? Additionally, the installers often times play a role in warranties, service and certainly your peace of mind after installation, ensuring your investment is protected. Will “Two Chucks and a Truck Solar” down the street with the cheap price be there when you need them or does it make sense to go with someone more reputable so if a panel ever needed to be replaced, the process will be easy?
You of course can learn all of the above and the financing options we’re about to discuss from a consultation with a solar consultant and if you decide that would be beneficial, please don’t hesitate to reach out.
As far as financial vehicles to go solar, there are three common programs.
The first and most popular is purchasing. Purchasing a system is a prerequisite to capturing many of the wonderful tax credits which in many cases offset the overall cost of going solar tremendously. When purchasing, there’s also a much higher likelihood the addition will positively impact home value, potentially insulating your investment. Many solar loans require no money out of pocket and have payments right in the neighborhood of your current utility bill so you can just kind of flip the switch spending what you already do but capturing all of the benefits. Not to mention eventually the system will be paid off or the avoidance of rate increases.
The second and maybe not the most popular currently but certainly the reason solar got as big as it has is solar leasing. Leasing was the first “no money out of pocket” solar option. There’s no startup costs and you have total transparency knowing what you’ll be paying for your energy even 20 years down the road. Qualifying is usually pretty simple and typically the provider is on the hook for all maintenance and service so you can enjoy guilt free, clean power with peace of mind.
The third route and seeming to decrease in popularity as of late are PPA’s which stands for “Power Purchase Agreement. In this format which is similar to leasing but different, instead of a flat rate for your system each month, you have a flat rate per kWh and your cost fluctuates with production (summer = higher, winter = lower). With the agreed upon rate per kWh you have transparency similar to leasing knowing your costs years into the future.
In conclusion, going solar, if approached right can be incredibly beneficial to the world around us as well as economically for those making the transition. You have different systems, different installers/providers, financial vehicles, etc. Don’t hesitate to reach out to us at Radiant Solar to get a better feel for the above and possibly learn if going solar makes sense.
We’re a local company that knows Southern Nevada. We’re also the local leader which gives us the purchasing power to offer the best pricing even when compared to national providers. We offer all of the above financial vehicles so you won’t be limited to the few options often available through competitors. We do all of our own installations and stand behind out work.
If you’re looking for more than a solar company but a clean energy partner, call us today. We’d love to have a discussion and welcome an opportunity to serve you. Click here for a FREE QUOTE