Installing solar panels on your home is a great way to reduce your carbon footprint, save on energy costs, and take advantage of tax incentives. However, before you jump into a solar panel installation agreement, it’s important to understand what you’re getting into. Here are some key things to consider before signing on the dotted line.
1. Understand the Financing Model
There are several ways to finance solar panel installations, including leases, power purchase agreements, and cash purchases. Each option has its own benefits and drawbacks, so it’s important to understand how your installer plans to finance your installation and what the terms of the agreement are.
2. Review the Agreement Language
Make sure you carefully read and understand all the terms of your solar panel installation agreement. Pay attention to details like installation dates, payment schedules, and warranties. If anything is unclear or you have questions, don’t hesitate to ask your installer or seek legal advice.
3. Get Multiple Quotes
Just like any home improvement project, it’s always a good idea to get multiple quotes before choosing an installer. This will give you a better idea of what the going rate is for solar panel installations in your area, and it will help you compare financing models and warranties.
4. Check the Company’s Credentials
Before you sign a solar panel installation agreement, make sure the company you’re working with is reputable and has the necessary credentials. Check for licenses, certifications, and insurance, and read reviews from other homeowners who have worked with the company to ensure they have a positive track record.
5. Verify the Panels’ Efficiency Ratings
When it comes to solar panels, not all are created equal. Make sure the panels your installer is recommending have high efficiency ratings and will be able to generate enough energy to meet your household’s needs. This is especially important if you’re financing the installation with a lease or power purchase agreement, as you may be locked into a contract for several years.
In summary, signing a solar panel installation agreement is a big commitment, so it’s important to do your research and understand the details before moving forward. By following these tips, you can ensure you’re making an informed decision that will benefit both your wallet and the planet for years to come.