The biggest factors that influence Commercial Solar ROI

Most people are surprised to learn just how many unique factors contribute to the ROI calculation for residential solar investment. To get the most out of your solar installation, you must select a company that knows its stuff regarding design and installation. In other words, make sure you look at much more than just the square footage of your home and the orientation of your roof. A good system must also address your family's specific energy consumption patterns. These patterns must be considered in conjunction with any available incentive programs that offer credits or rebates for installing them to get the best system possible.

Since you're investing in a solar energy system for your home, it's important to fully explore every piece of the process and align each decision with your design, financial, and overall home goals to secure the greatest possible ROI from your purchase. After all, no one can fully anticipate what will happen on any given day. So, from the coast, let us show you how many homeowners have benefited significantly from having a solar energy system:

Your Energy Consumption Habits

You're going to want to think about how you use your energy and when you use it. When thinking about your usage patterns, make sure to consider what time of day is most beneficial for you to use extra energy because electricity prices are at their lowest during certain times of the day - one example is overnight when demand and prices are at their highest. Your installer should create a system for your home that will consider how much electricity you use and how often, as this will ultimately impact the number of panels you purchase and how quickly you can expect them to pay for themselves!

Your Local Utility Provider

Solar panels stop generating electricity once the sun goes down. Solar batteries can store excess daylight solar electricity for use when the sun is down. Still, even today's best batteries are limited in storage capacity against Arizona's high air conditioning demands. In most cases, it's most economical for a customer to offset purchased utility power during the day with solar energy and utilize grid power at night when the sun is down. Each utility has unique pricing options for interconnected solar customers, and on-peak / off-peak hours vary. Designing a solar energy system to optimize the programs in your area is critical to optimizing your solar ROI. 

Payment Options and Solar Tax Incentives

Financially funding a solar sunshine coast purchase can be tricky with so many options and different state programs available. The federal government's main incentive is the federal Investment Tax Credit (ITC). And this year is easily the most effective one to score because it's the only one with a 26% tax credit until it reaches 0% starting in 2022. It's an upfront incentive, which means that you'll receive the biggest return on your investment immediately after you make it. This incentive offsets about 26% of typical installation costs. Still, if an entrepreneur were to take advantage of all three tax credits from both their taxes and that of their leaseholder or financier, then they could save significantly more! Instead of dealing with leasing companies who offer no investment from clients, entrepreneurs should talk to local installers who are well-versed in all possible options for financing a solar purchase.

There are three main ways to fund a solar purchase: cash, loan, and lease. We recommend that you get a professional quote from a certified solar company. Once you provide them with the details about your particular energy needs, they can determine which option will work best for your family. 

Contact one of our solar integrators to start the solar power sunshine coast journey. 

Source URL: https://www.accordelectrical.com.au/