4 Tips to Be Able to Afford Solar in 2021
The previous year, and the ongoing pandemic, has been tough on all of us. In many households, various projects have been put on hold until the situation gets better. Financially speaking, families have become much more prudent and frugal with their spending decisions, but many are still considering solar energy as an investment worth making this year. This is because it comes with a promising possibility to pay off very quickly, which means drastically reducing monthly utility bills thanks to this implementation.
There’s still the question of prices and overall value for a typical homeowner. Will you be able to reap the financial rewards soon enough so your financial stability doesn’t suffer? What about maintenance and the ongoing costs of your solar rig? Is there a way to cover these expenses without breaking the bank? To help you start using solar energy at home, here are a few ways you can create a sensible budget that allows you to stick to your spending options wisely.
1. Calculate Your Budget and Savings
The main appeal of using solar energy is, of course, the fact that this is a planet-friendly resource you can benefit from permanently. However, some homeowners who are looking to sell their house might find solar panels to be a smart investment, as well. Why? Because modern-day buyers who appreciate all things sustainable will find your house all the more valuable.
In practical terms, this means you’ll be able to increase the resale value of your home once you’re ready to sell. So, if you’re looking to buy solar panels in 2021, this works in your favor. Just make sure the overall value and quality of the solar panels you’ve chosen does match the energy savings this type of renewable energy promises.
2. Shop Around for the Right Brand
As the market for renewable energy is rapidly evolving, it’s natural to expect more tech-driven brands to pop up in any market. Depending on where you live, you need to look for reputable brands using the latest technology in manufacturing these panels and ones that are a good fit for your home.
The current market is now experiencing an all-time low in solar panel prices, which is a natural consequence of their ever-growing availability. So, in terms of the state of the solar market in 2021, the time is right for you to invest. But, only do so if you are willing to invest in top-notch quality that will actually pay for itself in a matter of years. You can calculate your payback time, but research shows a solar setup can pay for itself in around seven or eight years through tax incentives and reduced energy bills, allowing you to break even and then build up your savings moving forward.
3. Find Buy Now, Pay Later Programs
No matter how you look at it, solar panels are a major investment, so many families keep postponing the decision until “better times”. What’s amazing about solar is many brands are now working together with delayed payment providers who can help you, as the customer, invest in solar panels for your home and pay in interest-free installments.
Considering the economic situation, more families are choosing interest free solar panels they can pay off in a few months, making it easier on their budget. In addition to avoiding interest on delayed payments, this is a much more structured approach that helps you divide your expenses more sensibly while you introduce this major sustainable solution into your home.
4. Try Leasing, Then Buy
If you’ve already tried solar energy in different forms, be it by investing in a solar charger for your phone, or by trying out camping gear powered by solar energy, you know this is the way of the future. In much the same way, your household will be all the richer by relying on solar panels, but only if you can afford to buy the right type, level of quality, and provide optimal maintenance.
For those who see this as a major risk from a financial perspective, there’s another good option to consider: leasing! There’s now a growing number of companies leasing solar panels and other equipment to homeowners who want to give solar energy a go. Make sure you find a monthly fee that makes sense for your energy needs and compare it to your current setup. If you like the odds, then you can invest in your own solar panels after you test them out through leasing.
Budgeting for such a major remodeling decision makes perfect sense, especially if you are not familiar with the capacity of solar energy in your region and the potential for its multifunctional use in your home. Before you make up your mind and invest a large sum of money, do some digging, and you’ll soon be able to determine whether or not this is a good decision for your family in 2021.
Investing in Solar as a Green Energy Alternative
Maybe this year is the perfect moment for this investment because of the expected savings down the line, but maybe you can play the waiting game a little longer, just to be on the safe side. As long as you’re considering green energy alternatives, you’re on the right track!