Thinking About Going Solar? Here’s What You Need to Know
As sustainability becomes a priority for homeowners and businesses alike, many are considering solar energy not just for its environmental benefits, but also for the potential to reduce long-term energy costs. At OLSON LEWIS + Architects, we understand that smart energy choices are part of creating Beautiful Places that work as efficiently as they look.
If you're thinking of installing solar panels, here’s what to know—from purchasing decisions to incentives that can help offset the cost.
Why Go Solar?
- Environmental Impact: Lower your carbon footprint by generating clean energy.
- Reduced Energy Costs: Especially with Massachusetts' high electricity rates, solar can significantly reduce your monthly bills.
- Federal and State Incentives: A 30% Federal Tax Credit (available through 2019) and a Massachusetts $1,000 state tax credit help offset upfront costs.
Should You Lease or Buy?
Choosing whether to lease or purchase your solar panels is a critical early decision:
Purchasing Advantages:
- Access to tax credits, rebates, and Solar Renewable Energy Credits (SRECs)
- Benefit from Net Metering: earn retail rates for excess energy fed back to the grid
- Avoid long-term lease payments with potential annual increases
- Simplifies property resale, as you own the system outright
Leasing Considerations:
- Typically zero upfront cost
- Monthly payments often include escalators (annual increases)
- Leasing contracts may complicate future home sales
- All tax credits and incentives go to the leasing company—not the homeowner
Bottom Line:
Purchasing solar panels often yields greater long-term financial benefits and flexibility.
Understanding the Installation Process
Most solar installers offer turnkey services, handling design, permits, and installation. Here's what to expect:
- Site Evaluation: Your roof’s condition, sun exposure, and panel capacity are assessed.
- System Design: Custom layout based on your roof and energy needs.
- Permitting: All necessary permits are handled by your installer.
- Installation: Panels are typically under 25-year warranties, with minimal required maintenance.
- Activation: Once inspected, your system is connected to the grid.
Tip: Consider financing through a home equity line of credit (HELOC) to secure lower interest rates compared to in-house solar financing.
Incentives to Explore
- Federal Investment Tax Credit (ITC): Covers 30% of your system cost (through 2019)
- Massachusetts State Credit: Up to $1,000
- Solar Renewable Energy Credits (SRECs): Earn income for generating clean energy
- Net Metering: Get paid for excess power you generate
- Database of State Incentives: dsireusa.org offers a searchable, state-specific database of incentives
A Step-by-Step Guide to Going Solar
- Research Incentives: Explore federal, state, and utility rebates and credits.
- Contact Solar Providers: Schedule evaluations with multiple installers for comparison.
- Decide to Lease or Buy: Understand the financial and operational trade-offs.
- Evaluate Cost Benefits: Use tools like EnergySage.com to compare system costs and ROI.
Sustainable Design, Built to Last
At OLSON LEWIS + Architects, we believe sustainable choices like solar energy should enhance both the beauty and function of your home or workplace. Whether designing new construction or retrofitting existing buildings, we’re here to help integrate efficient, thoughtful solutions that reflect your values.
