Archive

Category Archives for "Solar Panels"

Leasing Solar Panels vs. Buying Solar Panels: Should I Lease or Buy Solar Panels in 2018?

As we reach the final quarter of 2018, the solar energy market continues to evolve and improve at a faster rate than ever before. This is why buying your solar panels is going to be your best bet in 2018’s energy market.

In this article, we will be taking a look and some of the pros and cons of buying solar panels vs. leasing them, but before we do there is oneimportant fact that needs to be highlighted,and that is the matter of federal tax.

There is currently only one way to benefit from a 30% federal tax credit on the cost of your solar system,and that is if you go ahead and buy your solar panels as opposed to leasing them from an external provider. If you decide to lease solar panels, then you will be limited to experiencing just a few benefits that solar power can provide, as you will always be a renter and never an owner. This means that the company you decide to lease your panels from will always be the sole owners who will financially benefit in the long run. And isn’t becoming the sole owner of the primary power source in your home for the rest of your life the type of freedom we all desire?

Leasing Solar Panels is Undergoing a Downward Trend

As a homeowner, the decision you make with regards to buying or leasing your solar panels is going to be determined by your long-term financial goals. And there are three main options when it comes to paying for your solar panels if purchasing:

  • Paying in cash
  • Secured loans
  • Unsecured loans

If you want to receive the best return on your investment, then cash up front is going to be the best option for you, if you are in a position to do this. To help you make a decision, here are some pros and cons of buying solar panels that you can consider.

Pros:

  • Your long-term financial savings are going to be enormous, as you won’t have to deal with increasing energy rates
  • You will be entitled to a 30% federal tax credit
  • Some states offer a renewable energy incentive or rebate
  • check
    If you pay using a secured loan, you can deduct the interest paid when completing tax returns in the future
  • check
    Owning your solar system entitles you to benefit from all of the financial incentives associated with it
  • check
    You can significantly increase the market value and buying appeal of your home should you want to sell up and move
  • check
    Never worry about your electricity being cut off due to routine maintenance or bad weather

Cons:

  • The only significant drawback of purchasing solar panels is the upfront cost that is required. Fortunately, more banks are recognizing the demand for going solar and are now facilitating secured loans.

The Pros And Cons of Leasing Solar Panels in 2018

The Pros And Cons of Leasing Solar Panels

There are a few distinct advantages to leasing panels, but they all revolve around instant gratification. Sure, you will be able to start benefitting from immediate savings on monthly bills,and your lease repayments are still going to be lower than your standard costs each month even after installation.

But when you compare these two positives, to the plethora of negatives, then suddenly taking a loan out to buy your solar panels becomes more appealing.

  • If leasing, you won’t be able to claim a 30% federal tax credit
  • You won’t be able to make interest deductions on income tax returns in the future
  • You will be tied into a contract and be required to make monthly payments on time, if not you could incur penalty fees
  • Alternate Arrow Right
    The market value of your home won’t benefit from an increase in value
  • Alternate Arrow Right
    You will be paying way over the odds for your solar system over time compared to the value you benefit from when purchasing panels outright

And these are just a few of the drawbacks of leasing. So here is our recommendation:

Buy Your Solar Panels!

Any solar energy expert in the world is going to tell you the same thing. When it comes to installing a solar system- if you want maximum returns for a minimum amount of hassle, then buy.

As solar technology advances, prices are dropping. Largely because solar energy is becoming more mainstream and manufacturing products are more readily available.

A recent survey revealed that homeowners would only have to wait between 5-7 years to experience a complete return on investment, which is encouraging more people to skip the idea of leasing and move straight towards buying a solar system to power their home or small business.

Few people these days are lucky enough to find themselves in a position where they can part with a considerable chunk of cash to pay for solar panels, so taking out a loan is always going to be a feasible option for making a purchase.

Provided you do your research on interest rates and repayments; you can make an informed decision about buying solar panels.

Final Thoughts

Before making any decisions regarding whether to lease or buy solar panels, it’simportant that you always turn to reputable and trusted experts to get your information. It is quite clear that solar power is going to be the future of energy, due to the harmful effects traditional power sources have on the environment.

As people are becoming more affected by climate change, the need for each individual to do their part towards making a positive change is becoming increasingly urgent and apparent. Additionally, when you can have an endless power supply for free, who is going to want to keep paying an electricity provider each month only to be subjected to rising costs and power cuts?

The solar energy market is growing by 24.2% each year,and with more affordable solar panels becoming increasingly available, leasing is set to become a thing of the past.

High Efficiency Solar Panels: The 5 Most Efficient Solar Panels on the Market in 2018

When looking for the most efficient solar panels on the market, the first thing you need to be aware of is that just because a solar panel boasts that its main feature is efficiency, that doesn’t always mean that you are going to be provided with the best return on your investment.

There are several factors to take into account when it comes to solar efficiency and when the time comes to make a decision about which ones you are going to buy, you might find that cheaper panels that offer a lower efficiency are going to be a better solution for you if you have a lot of space, as you can just install more of them and they will still produce the same amount of energy as the more efficient (and often more expensive) premium models.

If you are amongst the thousands of people on the quest to find the most efficient solar panels on the market to complete your PV rooftop system, then you don’t need to spend any more time researching. In this article, we will be reviewing the 5 most efficient solar panels on the market this year, so you can make an informed decision about which panel is going to be right for you.

Which Type of Solar Panel is Most Efficient?

Monocrystalline solar panels have been proven to be the most efficient by a long shot, with an efficiency rating of between 15-22%. While this might sound like a low figure, it is actually more than sufficient to power an entire household.

The reason these panels are so efficient is that theyare made out of high purity rating silicon that is designed to withstand high temperatures and extreme weather conditions. These types of panels also have the added benefit of requiring less space, making them a perfect choice if you live in the city or completely off-grid.

SunPower X-Series Solar Panels

SunPower X-Series Solar Panels

SunPower is the largest manufacturer of crystalline solar panels in the world. They introduced the SunPower X22 360W Premium Plus solar panel to the consumer market last year,and it remains the most efficient solar panel available worldwide.

These panels boast a remarkable 22.2 percent efficiency rating, featuring the latest technology in solar PV panels. They are incredibly durable- built to withstand extreme climates, making them an attractive option for customers worldwide.

Key Benefits

  • High Efficiency: the X-series solar panels generate more energy per square foot and produce 38% more power per panel than competitor brands
  • Maximum Performance: the panels have been cleverly designed to deliver optimal energy in realistic conditions like partial shade and hot temperatures
  • Advanced Technology: X-series panels will deliver unmatched power and performance thanks to innovative Maxeon technology
  • check
    Extremely Durable: the only cell in the world that is built on a solid copper foundation, making it resilient to corrosion and cracking with age

Drawbacks

  • Price: they are more expensive than other solar panels, but it's not surprising given the premium features and quality they promote
LG NeOn R Solar Panels

LG used to be criticized for the efficiency of their solar panels, but the new NeOn R panels are testament to the fact that the electronics giant has taken the time to make some incredible improvements with regards to the cell wiring in their panels to enhance their efficiency rating. These panels are now just one step behind the SunPower X series, yielding an impressive 21.1% efficiency rating. 

Key Benefits

  • Enhanced Output: maximum efficiency yielded even in limited space
  • 25-year product warranty: for customers’ peace of mind
  • Durable: improved durability thanks to newly reinforced frame design
  • check
    Improved temperature coefficient: enhancing performance on hot sunny days
  • check
    Good price point: making LG panels an affordable option for efficient solar power

Drawbacks

  • Space requirements: you will need enough space to install the right number of panels to meet your power needs, so if your surface area is restricted, these panels may not be the best option for you.
Panasonic N 330W

The all-time favorite solar panel providers have outdone themselves with their new and improved approach to the manufacturing process of their solar panels. Their new hetero junction cell technology features two separate layers of high-quality material to create each cell. This means that the failure rates of these solar panels are incredibly low, and they also provide an efficiency of 19.7%.

Key Benefits

  • Higher energy outputs: thanks to new and improved heterojunction technology
  • High efficiency:an industry-leading temperature coefficient guarantees efficiency even at high temperatures
  • Unique water drainage system: meaning your panels won’t get dirty as quickly. More sunlight results in more power
  • check
    25-year product and performance warranty: the power output after 25 years is superior to that of its competitors
  • check
    Well priced: these panels fall in the mid-range price bracket

Drawbacks

  • Space: similar to the LG solar panels, if your roof space is limited, you might not have enough space to install enough panels for your energy consumption needs.
TrinaSolar Allmax

TrinaSolar is one of the largest solar panel manufacturers in the world. Their Allmax solar panels provide versatility, as well as efficiency.

Key Benefits

  • Excellent Price: while they are not as efficient as the product above, they are significantly more affordable
  • Generate high amounts of energy: even when space is limited, the Allmax solar modules still perform very well
  • Good Quality: these versatile solar panels are built to last

Drawbacks

  • Not as efficient as other panels available on the market, but this is compensated by the price.
Solaria Power XT

Solaria’s Power XT solar panels are some of the sleekest, reliable and most efficient solar panels for a rooftop solar system you can find. With regards to quality and design, they are on par with Sunpower panels, yet more affordable- always good news for the bargain hunters among us.

Key Benefits

  • Very robust: unique shingling process reduces the number of electric losses found in soldered ribbons
  • Good shade tolerance: these panels are designed to perform well despite being shaded depending on the time of day
  • Impressive Warranty: a 25-year warranty is provided
  • check
    Budget Friendly: more affordable than many products on the market, especially when you consider their efficiency
  • check
    Superior aesthetics: a sleek design means they are more discreet

Drawbacks

  • We didn’t find any significant drawbacks. They are efficient, reliable and incredibly well designed.

Final Thoughts

In life, you are always going to get what you pay for. This is why it’s so important to understand WHY the most efficient solar panels are more expensive than their counterparts.

It is clear from looking at the efficiency ratings that the SunPower are far superior to other solar panels on the market, but if you don’t have that much money to invest, then you still have several other options that are financially accessible.

 You might have to start with fewer panels than you hoped for if you want to invest in the best, but providing you have space, you always have the option of adding additional solar panels in the future.