Home Solar Power options (image from mjmonty on Flickr)

These days, it is easier than ever to switch to solar electricity.  Home solar power options abound!  Whether you are thinking about installing solar panels on your rooftop, solar roof shingles, or simply tapping into a utility-based renewable energy certificate program, you don’t have to power your home with dirty coal or gas any longer.

In fact, you may live in one of the 29 states in the U.S. that have mandatory renewable energy electricity standards (RES).  That means that utilities in your home state may be required to generate a percentage of electricity from renewable resources.  If you take steps to purchase that greener power from your utility, you can be tapping into solar energy without delay.

So many ways to switch to solar power (image from Pink Dispatcher on Flickr)

If you own your abode, you have several home solar power options.  First and foremost, many residential property owners consider installing solar panels on their rooftop.  Prices have fallen dramatically recently, and government all levels have adopted incentive programs and offer tax rebates to further encourage a switch to solar power, with even more cost-saving programs on the horizon!

If you are concerned about the cost of solar panels, there are plenty of ways to save.  From solar loans to solar leases, you can minimize upfront costs and start to save immediately on your electricity bills.

Solar Loans:  As with any major purchase, you may be able to qualify for a loan with good credit (and perhaps a sizeable down payment).  Some utilities, private firms and solar installers – even government – may offer loan programs for solar panels.  That could minimize the up front “hit,” but you will still want to cut down the overall costs, if possible.

Programs with No Up-Front Costs: Perhaps your city or county will offer a so-called FIRST or PACE (Property Assessed Clean Energy), program under which municipal bonds for home solar power systems that leave the owner paying little or no up-front costs. The initial costs are instead carried by the municipality, which are then paid back through an increase in the homeowner’s property taxes.

Here is a synopsis of how the program works in Sonoma County, California:

So many options for installing solar panels (image from mjmonty on Flickr)

Group Discount Programs:  Shop Costco?  Then you know about the premise of buying in bulk to reduce overall costs.  The approach is similar with respect to solar panel installation.  Simply find or create a group of other homeowners who want to purchase solar panels and then use a service like One Block Off the Grid or SolarCity to help you negotiate a discount.   They can even help you with rebate and other incentive paperwork!

Solar Leasing:  Like leasing an automobile, you can reduce the cost of solar panels by leasing a solar array, as well.  Under typical solar lease contracts, the utility owns, installs and maintains the panels.  The homeowner pays a monthly or annual fee as “rent,” for the term of the lease.  The rental fee is usually far less than annual electricity bills.  At the end of the lease, the owner may opt to purchase the panels outright for a reduced fee, or return them to the utility.

In summary, there are many home solar power options for those of you who want to switch to solar electricity, but are concerned about the cost.  Which one sounds best to you?

Are residential solar panels in your future?

Residential solar panels are hot these days!  With prices going down as fast as efficiency is increasing, more and more homeowners are interested in solar power options.  The claim that you can turn your meter backwards is an enticing one… and not far-fetched, I may add!

If you are among the many people that are considering switching to solar power this year, what do you need to know?  What do you need to consider?

Let’s cut to the chase:  money is a huge consideration for most of us.  Before you can install residential solar panels, you need to think about what it will cost you, and what you can save.

Switching to solar power can be affordable!

Two primary types of solar electric panels (also known as photovoltaic, or PV, panels) exist:  manufactured, and do-it-yourself.  Solar panel kits are hot among property owners that like to construct and wire the components themselves, while saving money.  But, going with manufactured solar panels can provide you the peace of mind of knowing that someone can help you with tax rebate forms and possibly even maintenance of your investment.

And speaking of investment, did you know that you don’t even have to purchase solar panels for your home?  You can still convert to solar power without the upfront investment, if you finance or lease solar panels.

Perhaps the most exciting aspect of switching to solar power is the fact that it will actually help your bottom line.  That’s right!  For every $1 you save annually in electricity bills, your property value increases by $20.  So, let’s say you save $500 per year in utility costs.  That’s a $10,000 boost to your equity!

Among the other benefits of going solar are: (1) lower or non-existent electricity bills; (2) insurance against rising utility costs in the future; and (3) security of having a power source when/if the grid fails due to weather or national security issues.

Don’t sit on the fence any longer!  Prices for solar panels have dropped by 50% recently, government incentives are generous, and you don’t even need to purchase a solar power system outright to gain the benefits.

Residential solar panels are for you – trust me!  What’s holding you back?