Today we’re going to talk about what are the benefits of going solar, how do you do your due diligence, and what do you need to know when doing your due diligence when choosing a solar company to work with?
So you’re considering solar and you want to figure out how do you find the right company.
How do you make sure it’s being done the right way? And what are the right panels to get and what is everything you need to do? I know, that’s a lot of moving pieces and to do your proper due diligence, you want to look at a few things.
First of all, you have to look at the feasibility or viability of going solar. What you need to look at and consider is how long are you planning to be in this particular home. If you’re only going to be in there a couple months, it’s not going to have the immediate turnaround ROI in most cases. If you’re going to be there for at least three to five years, then it’s something to start to look at and consider because you’d be able to get the financial benefits and ROI.
One of the reasons why is the Federal Tax Credit that’s currently available in 2020, 26% of the total cost of the project, you get back on your federal taxes when you file in 2021. In 2021, the tax credit drops down to 22% and then goes away after that.
So right now over the next little bit is going to be where you’re going to have the best return on your investment for going solar because of those extra benefits.
Now that you’ve taken that into account, you want to look at how are you actually going to pay for it.. So if you’re only paying $30, $40, $50 bucks a month for your electric, it might not be the best project to do. It might not just give you the best return or be financially feasible.
If your bill is $80, $90, $150 $200+ a month, now you’re getting into where it’s going to make a lot of sense.
There’s a lot of financial loan options out there to pay for solar. Whichever one you go with will be beneficial instead of paying out every single month to the utility company. And no doubt about it, that rate you pay the utility company will continue to go up every single year.
When you go solar, you’re paying yourself just like a mortgage every single time you make that payment for your solar, you’re owning just a little bit more of your electric, you’re building equity, and you’re buying the cost of your electric down. And as mentioned, there’s a lot of options for how you can do that.
You can always just pay cash, depending on what the size of the system that you need could be easy, or it might be a little bit of a financial investment. There are a multitude of solar loan options both locally and nationally. And you can even bundle the cost of solar into your mortgage payment. Whichever way works for you.
So now you figured out that it does make sense to go solar. Next you want to think about, How do I find the right company?
Well, one of the things that we created at Conscious Energy is a 4-Step Due Diligence Process, because there’s a lot of education that you need to be aware of.
You need to look at your where you’re at in the city, the state you’re in. And most importantly, you also have to look at the utility company. Every utility company’s going to be a little bit different. You want to look at if you have that metering in your state? Do you have a limitation on the size of the system that you can build, because some utility companies limit the size of the system that you’re able to have at 10 kilowatt system. 10k system is where it starts to get maxed out with a lot of companies.
Next to consider, if you have any excess, can you buy it back? Can you roll it over? All these are things you want to be looking at with your utility company to figure out if it can work in a good solar company that you’re getting a quote from, should be able to explain a lot of this. Since it varies from city to city, and utility company to utility company.
And then lastly, you want to compare the different companies because every company is going to say they have the best and they have all this and that. So you need to look at:
What panels are they using?
Where are they manufactured?
What is their warranty?
What’s their production warranty?
What type of inverters do they have?
What’s their workmanship warranty?
In terms of the actual work that they do on the house when they’re going into the roof?
What type of guarantee do they have that that’s been done the right way?
To help you with this we created on ConsciousEC.com our 4-step due diligence process.
The first thing you’re going to see is a comparison sheet. On this comparison sheet, you’ll be able to look at the different companies that you considering and take these pieces of information and write it down.
And these are the questions that you want to ask, such as how are they installing the different components specific to your home? Are there other upgrades they’ll need to do? Until a company goes out to your home, there could always be a couple catches or things they wouldn’t see or know. But for the most part, you’ll get a very good idea for what the project will cost.
If you’re in Colorado, you can also use our homeowners guide to buying solar, which we wrote specifically for homeowners in Colorado, which will answer all the questions that you need specific to the Colorado market to make sure that you are getting all your questions answered ahead of time, and you’re properly educated so that no company can pull anything over your eyes during the entire due diligence process.
Conscious Energy Consultants (CEC) is leading the Conscious Energy Revolution for homeowners. Taking an education-first approach, CEC is committed to providing the insider information most solar companies either don’t tell you or don’t know.
Being interested in making a difference in our environment is great, but it’s imperative that companies are held to a high level of integrity with what they say they can and will do. CEC provides that information to arm homeowners with unbiased education so that NO company can mislead our followers.
If you are interested in learning more about Energy Efficiency, Solar, or Green Home Improvements then please Subscribe to my YouTube Channel here: https://www.youtube.com/channel/UCJWxp2AFaf6v30xRiFHVDFQ
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Want to know what it would cost and take for YOU to go solar?
Go to http://www.consciousec.com/preappinfo/ and follow our 4-Step Due Diligence process. We offer virtual and in-person proposals that are customized for your home and your current and future needs.
Have questions? Email us, we are happy to answer any questions you have about the solar industry, a quote you have from any company, or anything you’ve always wanted to know.
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The cost for solar is often one of the biggest factors people look at when choosing who to go solar with.
In this video I cover all the things a company looks at and takes into account when determining the cost for a proposed solar system.
Not every company will take all the factors into account, and makes their proposal look very enticing, but then comes back later and either can’t fulfill the system they promised or cut corners in order to complete the job.
So be cautious if someone is way less than everyone else, there is often a reason for it.