Installing solar panels is a substantial financial commitment, and their installation should be a carefully considered choice – so how do you know when the time is right?
There are several factors to consider when considering whether it’s the right time to install solar panels – including your plans, budget, and more. Keep reading as we explore these considerations so you know whether it’s the best time for solar panel installation.
Signs It’s Not The Right Time For Solar Panel Installation
Not everyone’s circumstances are a perfect fit for solar panel installation. Even if you meet the solar panel installation criteria, some signs could show that now isn’t the right time. Here are some reasons you might hold off on installing solar panels for now.
You Plan To Move
Even though solar panels can add to your property’s value, you want to maximise your investment. Installing solar panels only to move a year later is not worth the effort. You will only get a year of green living and won’t benefit as much from the savings on your monthly bills. You should only install solar panels if you’re certain you’ll live in your house in the coming years.
What If Your Budget Is Tight?
When your budget is tight, it’s essential to think carefully before making a significant investment in your home. It’s advisable to wait until you have some spare cash or explore available solar rebate options before committing to this eco-friendly upgrade. By doing so, you can ensure that your investment in solar panels won’t strain your budget, allowing you to enjoy the long-term benefits of reduced energy costs while keeping your budget in check.
You Have Plans To Renovate
If you have a renovation coming up, you might choose to extend your home or opt for a roof replacement. This process will be a lot more challenging if you have to dismantle and replace your solar panels to get access to the roof. Before you purchase solar panels and install them for your home, it’s a good idea to evaluate whether you plan to renovate in the next few years. If so, it’s best to wait until after the renovation before installing.
Signs It’s The Best Time For Solar Panel Installation
Now that we’ve covered some reasons why it’s not time to install solar panels let’s cover some of the top indicators that now’s your moment.
Fluctuating Energy Costs
When energy costs rise, people suffer. Currently, households worldwide are struggling to keep up with increasing energy costs. In Australia, the energy crisis has seen the most drastic changes in energy costs since the 1970’s oil shocks. If you’re affected by this energy crisis, you’ll see impressive benefits by investing in solar panels.
Paying Off Your Mortgage
You’ll have some monthly free income if you’ve just paid off your mortgage. You’ll be able to cover the loan repayment costs of solar panels easily. Once you’ve finished your repayments, you’ll be able to enjoy free energy – making your retirement period much easier to manage financially.
If the government is offering favourable rebates in your area, it’s in your best interest to take advantage of them while you can. There is a whole list of Australian solar rebates and incentives, and you can receive around $4,000 if you have a solar system with 5kW. Taking advantage of the rebate allows you to reduce the interest you pay on any loans you take out for solar panel installation, which is a huge bonus. And they may only be available for a limited time – so it’s best to take advantage while you can.
Am I Eligible For Solar Panel Installation?
Even if it’s the perfect time for solar panel installation, you’ll still need to meet these criteria for instalment:
- Roof space – you’ll need to have enough space on your roof for solar panel installation. Luckily, panels are only small, so this won’t be too much of a challenge.
- Homeownership – you can’t install solar panels on your landlord’s house, so you’ll need to own your home to be eligible.
Light exposure – the space you choose for solar panel installation will need plenty of light. Branches, buildings, and other fixtures can easily interfere with light exposure, and your panels won’t be of much use.
- Structural integrity – a faulty or unstable roof structure won’t comfortably support solar panels, so your property will need to be stable for solar panel installation.
If you meet all of these criteria, you’re good to go for solar panel installation.
It’s good to review your current circumstances before beginning your solar journey. It’s in your best interest to make sure you can afford solar panels in line with future plans and to assess whether you plan to move soon. If you’ve reviewed your circumstances, and there are no downsides, now would be an excellent time to invest in solar panel installation – especially with the current energy crisis in full swing.
If you’re seeking solar panel installation from reputable installers at a decent price, Solar Path has got you covered. Contact us now to speak to our friendly team; we pride ourselves on offering free counsel to our customers before they make such a big purchase!