We are fast approaching the longest day of the year, and to celebrate the summer solstice let's talk about solar panels! I am one of the newest members of the solar club, having just had Maine Solar Solutions install an array of solar panels on my home. This is a personal testimonial to their professionalism, workmanship and overall experience from the initial site visit with Steve Kilburn, to the team that installed the system itself! How does it all work? The following info was sourced from Maine Solar Solutions website, please contact me if you have any interest or further questions about this! So how does it work?
Solar panels convert energy from the sun into Direct Current (DC) electricity.That DC electricity travels to an inverter where it is converted into the Alternating Current (AC) electricity used in your home The inverter delivers the AC electricity to your electrical panel, where it is distributed to electrical loads throughout your home.Your home uses the solar produced electricity but still has access to electricity from the grid during high demand or at night. When your system is producing power, any electrical demands in your home are satisfied by the electricity that you produce first. If your home’s demand is greater than the amount of electricity being produced on the roof (such as during the evening or inclement weather), the electric utility, or grid, will provide the rest.
On the other hand, if your system’s electrical production is greater than your home’s electrical demand, the excess power is sent out on the grid, building up credit.
At the end of your billing period, your electric provider will subtract the energy you put out on the grid from the energy that you imported from the grid and charge you for the difference. This is called net metering.
Your system’s cost is determined by factors such as current electrical usage, the percentage of your usage that you wish to offset, equipment choices, and your budget. We will gather information during your free site evaluation and, if appropriate, present a couple of different options.
The average home in Maine uses between 9,000 kWh and 12,800 kWh of electricity annually. The cost for a grid-tied, rooftop solar electric system designed to cover this electricity usage would have a direct purchase price between $21,126 and $28,539. Once the 30% tax credit is factored in, the net purchase price would range between $14,788 and $19,977.
Most homeowners can see a payback or return on investment (ROI) in as few as 7 to 12 years. Your solar array immediately protects you from rising electrical rates; your ROI improves as those increase each year.
For people who’ve wanted to go solar but found upfront price an obstacle – Maine Solar Solutions offers solar loans for no money down through various lenders. Customers’ monthly payments end up being the same or lower than their current electric bill.
Many of Maine Solar Solutions clients also finance their systems with home equity loans or with home refinancing.
Buyers see the benefits of buying a home that can generate its own electricity, so installing solar panels can help you sell your home faster and likely at a significantly higher price. In a study by Lawrence Berkeley Labs, homebuyers were willing to pay a premium of $15,000 more for a home with an average-sized solar system.
