Why Should You Consider Investing in Solar Equipment in 2024

Solar energy is not only good for the environment, but it can also save you money in the long run. With electricity costs going up and tax credits available, solar panels and battery storage can help lower your energy bills and increase the value of your property. Whether you're a homeowner or a business owner, here are some things to think about when looking for solar equipment.

Types of Solar Equipment to Think About

Solar Panels

- Monocrystalline: These are very efficient and great for small spaces. Some top brands are SunPower and LG.

- Polycrystalline: These are more budget-friendly but slightly less efficient.

- Bifacial/Thin-Film: These are good for businesses or unique installations.

Inverters

- Microinverters (Enphase): These are good for areas with shade.

- String Inverters (SolarEdge): These are cost-effective for simple setups.

- Hybrid Inverters: Pair these with batteries for backup power.

Battery Storage

- Tesla Powerwall, LG Chem RESU, and Generac PWRcell are some of the top choices for storing extra energy.

- Decide if you want your panels on the roof or on the ground. Consider solar trackers and optimizers to deal with shading.

Important Things to Consider When Buying Solar Equipment

Cost & Return on Investment

- Residential systems usually cost between $15,000 and $25,000 before incentives. Businesses can save more with larger systems.

- Take advantage of the Federal Solar Tax Credit and state rebates to lower costs.

- Look for panels with long warranties and low degradation rates.

- Hire certified installers for more complicated setups. DIY kits are good for smaller projects.

- Make sure your inverters and batteries work well with your panels.

- Many buyers are now adding batteries to their solar systems for backup power.

- Systems like Tesla Solar Roof are becoming more popular for their looks and functionality.

- Businesses are using shared solar farms to meet their sustainability goals.