Residential Solar Tips: What to Know About PV Before You BuyNovember 1, 2022
Residential Solar Photovoltaic (PV) Installation is an investment homeowners should thoughtfully consider before making a final commitment. At ERMU, we are here to help. If you’re considering home installation, make an informed decision with these residential solar tips. Learn what to know about PV installation before you buy.
TIP 1: GET MULTIPLE BIDS
As with any major household purchase, it is important to get multiple bids for comparison. It is also good practice to ask for references from prior clients who are willing to share their experience regarding both installation and customer service satisfaction.
TIP 2: DETERMINE PERFORMANCE WITH THE PVWATTS CALCULATOR
With the PVWatts calculator, homeowners can determine the performance of proposed solar PV installations by evaluating their operation and efficiency. If you are having trouble navigating the calculator, please call ERMU at 763.441.2020 and we can walk you through it.
TIP 3: FIGURE TIME FOR RECOVERING COSTS
Determine how long it will take to recover the cost of installation. Use the total cost of your installation, along with the annual value ($) information from the PVWatts calculator.
Apply the following formula: [Cost of Solar PV Installation] / [Annual Value ($)] = Number of years to recover installation costs
For example, a $22,522 project (cost of installation) with a $785 annual value (from PVWatts Calculator) means it will take 28.69 years to recover installation costs.*
*This example does not include any tax credits
TIP 4: OTHER CONSIDERATIONS
You may also want to keep in mind other factors, including:
- Age/condition of your existing roof
- Number of years you plan to live in the home
- How this will affect the home’s resale value
- Increase in insurance for the addition of a solar PV system
- Annual maintenance costs of a solar PV system
- Years of warranty for solar equipment
TIP 5: TRY ALTERNATIVE CLEAN ENERGY PROGRAMS
If you are committed to supporting renewable energy but are not sure if you should move forward with solar PV installation, we have options. You may want to consider ERMU’s Clean Energy Choice Program. Customers can elect to have 50, 75, or 100 percent of their electricity come from environmentally friendly, renewable sources for only $1 to $3 per month. This program is affordable and predictable, and you can subscribe or cancel anytime.
ERMU IS HERE TO HELP
When it comes to photovoltaic (PV) installation, we hope these residential solar tips provided insight to help you make an informed decision. At ERMU, we support homeowners finding alternative energy sources and are here to help our customers in making informed decisions. Please contact us if you have any questions.