Sometimes, a homeowner or an industry would like to know how long it will take to install a solar energy system. They would also be interested in knowing how long such a system may last as well as the pay off period. The fact is that the solar panel installation process depends on various factors such as finding the right solar panel installer, or getting the quotes for the actual installation day. Other factors that may affect the installation time frame includes; local permit and inspection processes, the size and type of the solar panel system, utility company in case the system is grid connected, and the property characteristics. If the solar energy system is too large, it might take some days to complete the installation process. In case the solar system is small and involves just a few solar panels, it may take 1 to 2 days to complete the installation process. Hence, all these factors must be considered when you intend to estimate the amount of time that your solar installation process may take.
After the installation period is over, the next question is usually about the project lifetime. For most solar panel manufacturers, they give a standard 25 year warranty for your solar energy system. However, solar panels may even last longer than the 25 years depending on the maintenance carried out by your solar provider. Basically, the warranty guarantees that the solar panels are going to work below 80 percent of their rated efficiency after the 25 years. Research shows that solar panels usually loses about 0.5 percent to 1 percent efficiency every year. It means that at the end of 25 year warranty, your solar panels will be producing about 75% of their rated energy output. This means that investment in solar energy is a long term commitment. The upfront cost might be a burden but it pays off with time. The offered incentives and the monthly savings on your energy bill steers the return on investment.
How long it takes to pay off your solar panels is also dependent on some factors. One of the major factor is the size of your system. If you have less capital for the investment and you would like to invest in a large solar energy system, it might take you a longer period to pay off the solar panels. On the other hand, when your solar system is small and involves few solar panels, you can pay off really quick. The solar company you’re working with will also determine the pay off period. If the solar company compensates you for the excess power you send to the grid, you can use the compensation to pay off the solar panels. Looking into the government tax credit of 30 percent, you should have no fear of investing in solar energy. You should take advantage of the tax credit which will lighten your burden before it scales down at the end of 2019. Also, remember there are companies which offer free solar panels where you just have to buy power from them. You can choose to have your own solar energy system or to have the company install for you and buy power from them. You will choose the option which best works for you.