Solar FAQs
Frequently Asked Questions (FAQ) about investing in residential solar.
Yes, you CAN eliminate your electric bill and it feels as good as you think it does.
HOW MUCH DOES SOLAR REALLY COST?
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Absolutely! You knew we were going to say “yes” to this question. The reality is every home and every homeowner’s situation is different. We have to consider how much energy are you using today? How much energy will you be using in the future? How much sun does your roof get? Will trees be an issue? How many solar panels can we fit on your roof? Do I own my solar system or am I leasing it (yes, you can still save money)? The question is how much is your utility charging you for electricity today and how much will they raise rates in the future? Often homeowners might only see a bill swap today and save money going forward. More often your solar may be a few dollars more a month now but you’ll save thousands of dollars over the life of your system. That money could go to other things like college, vacations, your retirement, whatever you choose. Occasionally, we still see situations where homeowners can start saving money immediately.
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This is the number one myth about solar. Most people hear the word “solar” and think I can’t afford it on my home. The reality is that most of the time you can swap out the electricity bill you are already paying and own your power instead for the same monthly amount. The vast majority of our clients choose the bill-swap option to finance their system so there is zero out of pocket cost to improve your home and own your power with a solar system.
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Today’s option to go solar is a lot more consumer friendly than it used to be. There may be some solar companies that still require a big down payment or deposit to install solar. Valor works with major financial institutions to offer monthly payments so you can benefit from solar with zero out of pocket expenses.
THE IMPACT OF SOLAR ON MY HOME:
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Short answer – maybe. If you are purchasing your solar system then you are adding an energy-producing asset to your roof. Installing a solar system increases the value of your home and since it is attached to the roof you want your homeowner’s insurance to cover it should something occur. You should inform your insurance carrier that you had solar installed so it is covered by your policy and this could trigger a slight increase in your premium to cover the additional value solar adds to your house. More often than not we find that homeowners are underinsured because they have not changed the coverage of their homeowner’s policy in years but the value of their house has appreciated. After adding an asset like solar to their home they inform their insurance carrier and the carrier re-assess the policy at the home’s current value (with all the appreciation that has occurred) and the policy increases based on the new higher value of your house but that means you are no longer under-insured.
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Yes! A quick Google search for “does solar add value to your home” will pull up several articles that discuss how much your home increases in value and how your home will sell faster than homes without solar.
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Absolutely! As you can see in the above question, homes with solar normally sell faster than homes without. Most people want to be part of the solution and do their part to build a sustainable, renewable energy future for themselves and their families.
THE SOLAR INSTALLATION PROCESS:
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Believe it or not, installing the system on your home doesn’t take that long – usually. There are always exceptions but for the average homeowner it only takes one or two days to install the hardware and electrical components to your home. The longest part of the installation process is usually getting approval and a permit from your local municipality. Depending on where you live that could be relatively easy or take several months. We ask you to please be patient as we work with your local government entities to get your solar system approved and turned on.
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That depends on where you live. If you have enough space on your property that isn’t shaded by trees or buildings and there is enough room for easements, then you might be able to get a ground mounted solar system. Please note ground-mounted systems usually take longer due to additional permitting and approval times with your local government body. Plus ground-mounted solar requires additional labor and equipment so there is usually a higher cost to install it.
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Yes. Adding more panels to your existing system can make sense if your electrical usage increases. A lot of us are considering buying an electrical vehicle (EV) or maybe you want that awesome new hot tub in the backyard so our electrical usage could go up. Keep in mind that for rooftop solar we are limited by the amount of roof area often it makes sense to plan ahead on your initial investment to add solar.
WHAT IS SOLAR ENERGY NET METERING? (i.e. ENERGY PRODUCTION):
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In basic terms net metering measures how much energy your system produces and feeds into the local electricity grid versus how much energy you and your home consumes, i.e. pulls back out of the grid. The smart meter on your home measures the “net” difference between production and consumption. Did you produce a net surplus or a net consumption? Note – not all homeowners can participate in net metering. See next question.
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Hopefully. At the moment most utility companies in Colorado offer some sort of net metering program. There is no guarantee it will stay that way. Net metering allows you to create a credit for every kWh your system produces during the day. Then when you use energy at night those credits are used up. How much you benefit from net metering depends on how big your system is (how much of your energy does your system offset) and it greatly depends on how much your utility will credit you for your production. At the moment (2024) you can still get a 1:1 net metering agreement with most utilities in Colorado but it could get reduced or completely eliminated. Don’t wait too long or you could lose your chance to participate!
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It is possible to generate a surplus of energy with your solar system. Getting paid for that surplus energy depends on which utility you are connected to and what their net metering agreement says. Some utilities will offer rollover credits toward your future usage. Some utilities will pay you a small amount per kWh you overproduce – at least it feels small compared to what they charge you per kWh now. There are no guarantees how much you could earn and it usually changes year to year. Installing residential solar on your home is a way to take control of your energy not necessarily as a source of revenue.
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Your solar proposal is custom designed based on your current usage. If your usage increases after you add solar to your home then your new panels may not be enough. If this happens you will pay the difference to the utility company. The solar panel manufacturer guarantees a specific level of production that will slowly sink over time as the panel ages. Usually this is about 0.5% a year. If you are concerned about a system that is not producing as much as projected, then it is as simple as reaching out to our install partners to check on your system.
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All of our clients have free access to a 24/7 monitoring system that tracks your system’s performance. Getting access to the monitoring system is the final step after the utility has given you permission to operate (PTO) your system.
TAX CREDITS & TAX INCENTIVES:
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A tax credit is an incentive to encourage certain behaviors. A tax credit directly reduces the amount of taxes you owe. For example, if you owe $3,000 in taxes and you qualify for a $1,000 tax credit, then you can subtract $1,000 from your tax liability and only pay $2,000 in taxes. Note: Valor is not a tax advisor. Please speak with your tax advisor or accountant.
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Currently the United States federal government solar tax credit is thirty-percent (30%) of the price of your solar system. If the cost of your solar system is $36,000 then your tax credit would be $10,800 (i.e. $36,000 x 0.30 = $10,800). Note: Valor is not a tax advisor. Please speak with your tax advisor or accountant.
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There are three simple guidelines to qualify for the federal tax credit:
The solar system is being installed on your property that is your primary residence or a secondary home but they have to be “qualifying” residences.
The system is installed before December 31, 2033.
You own the solar system, i.e. it is a purchase and not a lease or third-party owned system.
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No, not specifically. The federal solar tax credit, also called the Investment Tax Credit (ITC), is a non-refundable tax credit. You have to owe taxes to make use of a tax credit. The tax credit can offset your tax liability down to zero in a particular year. If you don’t have a big enough tax liability you can rollover your remaining tax credit(s) the remaining year. Note: Valor is not a tax advisor. Please speak with your tax advisor or accountant.
SOLAR SYSTEM EQUIPMENT & BATTERIES:
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Valor only works with reputable installers and we only offer Tier 1 solar panels with the strongest manufacturer warranties. Typically panels will last 30 to 40 years but the manufacturer warranties only offer a production guarantee (i.e. the panel will produce energy) for 20-25 years. For example, the Hubble Space Telescope, which launched in 1990 has been using the same solar panels for over 30 years.
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Yes. Obviously the system is designed to operate and produce its more energy with strong, sunny days. They will still generate some energy during cloudy, rainy days but how much energy they produce will be diminished. How much the system is affected depends on how thick and dark the clouds are.
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No. You do not have to purchase a battery for your solar system. Batteries are a very popular topic. Purchasing a battery really depends on your personal needs and how important it is to you to have that back up power when you want it. For most of us we really don’t experience prolonged periods of blackouts and often it is not worth the investment to add a battery but everyone’s situation is different. Valor can certainly assist you if that is the path you want to pursue.
POTENTIAL ISSUES & WARRANTIES:
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All of our rooftop solar systems come with a no leak warranty. Our solar crews are professionals and we rarely have someone experience a leak. However, if you do, Valor is a roof AND solar company so we can solve any leak issues.
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Good question. In Colorado, with the amount of hail we see each year, this is a very common question. In the industry we call this a detach and reset or a D&R. If you have an insurance claim on your roof then your homeowner’s insurance policy should cover the cost of the solar D&R without any additional out of pocket expense on your part. We say “should” because the insurance carrier needs to know you have solar on your home and you need the correct policy (you want an RCV or replacement cost policy). If you are paying out of pocket for your new roof then you’ll also pay out of pocket for your solar D&R. Have no fear, Valor offers financing so your new roof can be done with a budget-friendly monthly payment.
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Another good question! Solar panels are tough. They are usually a lot tougher than your shingled roof and often weather any serious weather without a scratch. However, this is Colorado and we can get some pretty mean hailstones. Solar panels are not hail-proof so they can get damaged. If your panels are damaged then your normal homeowner’s insurance policy should pay to repair or replace your damaged property (just like your roof should it get replaced). Remember, your insurance company needs to know you own a solar system so they know they need to cover it.
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No. There are no moving parts to your rooftop solar system that would require any maintenance.
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Critter guard is an optional upgrade for your system. The guard is designed to keep out birds, squirrels and other pests from getting underneath your solar panels. Please speak with your Valor solar rep for the price to protect your system.
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Trees can impact your solar system’s ability to produce energy. Depending on the amount of shade a tree casts on your system it could seriously affect the system’s production. Valor recommends working with licensed professional tree trimming or certified arborists to reduce any shade issues for your solar panels.
Still have more questions about solar?
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