So, you’ve decided that you’re ready to move forward with solar power for your household or are at least considering it. With the variety of equipment options available and new advancements in solar technology, it’s easy to see why some people in your shoes might find themselves feeling overwhelmed.
You might find yourself wondering if you should purchase equipment or opt for a PPA… And if you do purchase your own equipment, should you opt for ground-mounted or rooftop panels?
In this post, we’ll fill you in to help keep moving forward simple!
Your Purchase Options
While most of the benefits of solar energy can be maximized by purchasing your own panel set-up, there are some other options available. If you’re on the fence about purchasing your own equipment, but still want to live more sustainably while saving some money in the process – a PPA or solar loan could prove to be a great fit for you!
Power Purchase Agreement
Power purchase agreements (PPAs) are an excellent choice for homeowners that want to test the waters with solar energy. While you won’t own the equipment, and won’t be entitled to taking advantage of solar tax credits, you’ll still be getting energy at a lower rate than what is offered by the utility company. You’ll also be able to feel good about where the energy is coming from.
Here’s what a PPA means:
- The company installs the equipment on your property
- You purchase the power produced by the equipment from the installer
- You get to use the energy from the equipment for an agreed-upon time frame
- The installer is responsible for all maintenance
- Equipment is returned to the installer at the end of the term
If you plan on selling your home in the future, PPAs can typically be transferred to the new owners, and may even enable you to increase your asking price much in the same way that homes with traditionally purchased solar energy systems see improved property value.
Purchasing Your Own Equipment
Owning your own solar equipment is the best way to go in most circumstances. It gives the homeowner true control over their energy usage and saves far more money on electricity costs than what is possible with a PPA. Some months, your panels will even overproduce energy!
When this happens, you’ll receive a credit from the utility company that you can utilize if your panels slightly under produce. The over and under production typically balances out – equating to little or no money owed to your utility company when all is said and done.
When working with Lumina, homeowners can purchase their equipment outright or with little to no money down with our flexible payment plans.
Ground-Mounted Vs. Roof-Top Panels
If you do decide that you’re ready to purchase your own equipment, you’ll be able to choose between a ground-mounted solar energy system or a rooftop panel array.
Both are excellent choices, but one may be better for you than the other for a variety of reasons. If you opt to work with Lumina, the person assigned to your project will help you to discern which is the best option for you – but we’ll start you out with some key points below. If you want to do further reading, check out this article detailing the pros and cons.
- Great for those who have shaded or otherwise unsuitable roofs
- Optimal sun exposure with minimal panels
- Typically more expensive
- Can take more time to install
- The best option for the majority of people
- Does not take up any yard space
- More aesthetically pleasing
- Typically more cost-efficient
There are of course other things to take into consideration, but this information should help you with getting a general idea of which options may best suit the needs of your household.
If you have any questions or feel like you’re ready to get started with going over your options in greater depth, we’re here to help.!