What’s the true cost of solar on Maui?
Solar systems are no longer as expensive as many people assume. Over the last decade, the average costs of solar systems have fallen by a lot! Incentives, tax credits, and competition among solar manufacturers and installers are only some of the key factors driving down the cost of solar on Maui.
To figure out the true cost of solar on Maui, you’ll have to consider the various key factors that affect the price of solar. Let’s dig deeper into this.
Factors that determine the true cost of solar on Maui
Here are some of the most well-known factors that affect the price of solar on Maui:
The quality of your solar installation
Chances are that you’ve seen some solar quotes with costs that seem too good to be true. Once you get quoted for an outrageously cheap price, odds are that the installer is using a piece of low-quality equipment or an unrealistic pricing model.
Rather, go for a solar installer with a competitive pricing model to help them stay in business at least for 25 years. Most solar installers are offering a 25 years warranty. Make sure the solar installer you choose is offering the best quality at a competitive price.
Another factor that influences the installation cost is the amount of racking required. Racking is used for fastening the panels to your rooftop and to link each panel to the next. Depending on the size of your solar array, local weather, and the pitch of your roof, etc., your installer will come up with the right installation tool.
The amount of electricity your home consumes
If your home consumes more electricity, you’ll need more solar panels to make up for that. While the costs of solar panels often get cheaper on a per-watts basis, the total costs of the solar systems will most likely increase as more panels are required. Nonetheless, the more number solar panels a home has, the better the homeowner can save on electricity bills. The amount of electricity you consume will determine your true cost of solar on Maui.
The type of solar panels you choose
There three major types of solar panels; monocrystalline, polycrystalline, and thin-film solar panels. Monocrystalline and polycrystalline are the two major types of solar panels used for residential solar systems.
The type of solar panels you opt for will determine the price of your overall solar system. Monocrystalline solar panels are more efficient though they cost more. While polycrystalline solar panels cost less and have a lower efficiency rate. Also, the type of inverter you opt for can affect the price of your solar panels. In summary, the type of solar panels you choose can determine your true cost of solar on Maui.
Your true cost of solar on Maui will most likely be influenced by the solar incentives you’re eligible for. You can opt for the federal solar tax credit which equals 26% of the costs of installing your solar panel systems. Even more, the state of Hawaii incentives, coupled with federal tax incentives means homeowners can end up with a lower cost of solar on Maui.