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Is it the right time to get solar? Did I consider all options?

Many of us ponder whether to get a solar PV system for the house or business. What makes you think about getting on-site generation?

Here are few positive reasons, but not all:

  1. I want to offset consumption – 100% or partial.
  2. I would like to charge my electric vehicle using solar.
  3. I am a green enthusiast and I want to do my part to reduce climate impact.
  4. I want to have power in case of a utility outage. It can be whole house protection or partial backup.
  5. I don’t want to depend on utility electric power as the rates keep on increasing YoY and I don’t understand or don’t have time to go through the charges.
  6. I have good house orientation and I have lot of sunlight on a single sloped roof
  7. Time value of money – Solar cost is less compared to the coming years.
  8. Incentives – IRS tax credit for renewable energy (26% in year 2022, 22% in 2023 and zero from 2024)
  9. In addition to federal tax credit, my city or state is providing rebates.
  10. 15 years loan terms for solar makes solar PV system affordable
  11. I would like to get a battery with solar as the cost of the battery is included in the tax credit. I understand, adding a battery next year or later to solar will not be eligible.
  12. I understand that the value of the house increases. When I am ready to sell the house, the new home buyer gets all included in a single mortgage. He would enjoy a very less electric bill.
  13. I don’t own a home, but I want to contribute by buy green power.
  14. I want to participate in a community solar program because my house does not have suitable orientation.

Negatives:

  1. My house orientation is not good. And I don’t have enough land to do ground mount.
  2. My HOA does not allow solar.
  3. I am expecting solar to come down. But compared to the last two years, it went up.
  4. I am planning to move to another house.
  5. Upfront cost is too high. Though I get a 15 year solar loan and my consumption is off-set by generation.
  6. It is okay to go on fun trips, spend a lot of money on finishing used space in the house (basement or addition), buy an expensive car, but I am still looking for quicker financial payback for solar, less than 8 years. I want to be biased.
  7. Utilities are scaring me. Utilities want to penalize solar on-site generation customers with additional charges. (You can complain with state regulators like MPSC in Michigan).

The process is taking about three months with significant two months going to utility interconnection approval – initial and final.

Last week,  the Federal Energy Regulatory Commission (FERC) aimed at addressing significant backlogs in interconnection queues (https://www.pv-tech.org/ferc-proposes-interconnection-reforms-to-speed-up-renewables-deployment/).

Considering the time, it is advisable to start getting quotes and make a decision. It is difficult to complete the installation if you sign up after October.

I believe going forward, new construction will have an EV charger with Solar as standard.