Factors to Consider Beyond the Initial Cost of Installing Solar Panels
Are you considering installing solar panels on your home? While the initial cost of installation is a significant investment, there are additional factors to consider that can impact your overall expenses. From maintenance and cleaning to home insurance and tree trimming, there are several ongoing costs to keep in mind when going solar.
According to Forbes, maintaining your solar panels can cost anywhere from $140 to $180 annually, or an average of $150 per year if you hire a professional. This cost includes regular inspections to check for signs of repairs. Additionally, hiring a solar panel company to clean your panels can add another $150 per cleaning to your budget. However, with the right equipment and knowledge, this could potentially be a DIY-friendly task that only requires a one-time investment in cleaning supplies.
Furthermore, installing solar panels can increase your home’s value, but it may also impact your homeowner’s insurance rates. It’s important to check with your insurance company to see if installing solar panels could lead to higher premiums. Some solar panel companies offer complimentary monitoring services to help you track your panel production and electric usage in real-time, while others may charge extra for this service.
In some cases, you may need to invest in tree trimming services to ensure that sunlight can reach your panels effectively. Additionally, it’s essential to have a strong roof foundation before installing solar panels, as roof repairs or replacements can add to your overall costs. The average cost of roof repair is $950, while roof replacement can range from $6,700 to $80,000.
If your solar panels require repairs, the cost can range from $200 to $1,700, depending on the extent of the damage. It’s worth checking your warranty to see if you’re covered for repairs. Some homeowners opt for solar shingles or solar roofs, which can cost between $15,000 to $20,000 on average. Tesla roofs and Powerwalls are pricier but come with a battery storage system for added energy efficiency.
Overall, while the benefits of solar panels are clear, it’s essential to consider the additional costs involved in maintaining and optimizing your solar panel system. By factoring in these expenses, you can make a more informed decision about whether solar panels are the right choice for your home.