Commonly Asked Questions About Solar
How much does a solar power system cost? The less than obvious answer is ZERO.
Here’s how. You already pay for energy every month with no end in sight. When you invest in a solar photovoltaic (PV) system, future utility payments now stay in your pocket to offset the system cost, you own an appreciating asset, and literally decades of free power.
How do tax incentives help pay for as much as 50% of my solar system?
The Federal government offers a 30% tax credit on the purchase cost of a solar power system. That’s $3,000 back in your pocket for every $10,000 in system cost. You can carry forward unused tax credits for up to 20 years. Additionally, businesses can take advantage of depreciation allowances. In California, these combined incentives can add up to over 50% of a solar systems cost.
What is the long-term cost benefit of a solar PV system?
With a roof-top or carport solar PV system, you can convert thousands, and even millions, of dollars’ worth of solar energy into usable power providing you with a strategic cost cutting advantage well into the future. You take immediate control, and predictability, of your long-term energy costs giving you peace of mind.
What type of return on investment can we expect?
The rate of return will vary depending upon several factors, but in our experience many solar systems provide a 100% return on capital investment in as little as three to seven years. The key point to remember is that virtually 100% of the cost for your solar system was cash you would have sent to the utility company every month which you wisely decided to put to work for you.
Will adding solar increase the value of our building, or business?
Yes, it can. The future value of the electricity your solar system will produce can easily add up to thousands, and even millions, of dollars that any future owner would have had to buy from a utility. For homes, the National Association of Appraisers has estimated that a home’s value could increase by up to 16x the value of annual energy savings. For businesses, when you reduce operating costs you increase your net operating income (NOI) which is a key metric to commercial building valuations.
Is solar power reliable and how long will it last?
Absolutely. Solar installations began over 40 years ago, and many systems that are decades old built with far less sophistication than today’s products are still in operation today. The solar system technologies offered today are extremely reliable and the solar panels used are designed to produce at least 85% of their initial power over the first 25 years. XsunX’s residential Keep Your Cool packages come with a 25 year solar panel and inverter warranty. Adding to that, XsunX provides a warranty of at least 10 years on the materials and workmanship.
Ownership & Operating Questions
How do I know what size solar system I’ll need?
We take the guess work out of system sizing. XsunX will provide you with an accurate custom proposal outlining the system location options, sizing, power production potential, and financial returns you can expect from each option making it easy for you decide what works best for you.
Is switching to solar power difficult?
Not at all. You simply sign some paperwork and XsunX handles everything so you don’t have to worry about anything. We get your solar system installed and running quickly so you can say goodbye to utility bills ASAP.
Will an installation create roof waterproofing issues?
Absolutely not. XsunX warrants any roof penetrations for ten years, and in many cases we can install systems with a very limited number of penetrations. And, any roofing work is performed by licensed professionals.
Are there any benefits to re-roofing at the same time we install solar?
Yes, by re-roofing when you install solar you may earn valuable tax credits for the portions of your roof work that is directly required as part of the solar install. Our project surveyors will help you access any potential concerns, and if you need new roofing the licensed professionals we work with provide unparalleled quality, and rock bottom pricing.
Is solar system maintenance costly or problematic?
No, the materials used in solar systems have been developed over decades of real-world use and results. We recommend, and can provide, simple surface cleanings about twice a year. Many solar systems are decades old and work flawlessly.
Will my utility provide me credit for the solar power that we do not use?
Yes, as a power generator you enter into a Net-Energy-Metering agreement with your public utility. This will provide you credit for the value of energy you produce and send to the utility.
System Investment Options
Which is the best method to make our solar investment – cash, loan, or business lease?
Each method has its own unique benefits. In addition to tailoring a solar system designed to maximize your savings, we also provide you with an analysis of how cash or loan based purchase options cash flow over time. Our goal is to assist you and to help identify the best options.
If we do not want to pay cash, what are the options for financing a solar system?
Through our lending network, we offer loans with 2 to 15-year payment plans, purchase through HERO property tax assessments with initial payments deferred for up to 12 months, and for businesses, lease-to-own options that can save thousands in ownership costs. In many instances, we can provide you with a cash flow positive result from day one with minimal to zero up-front costs.
Can solar tax incentives be used to help finance a solar system for my business?
Yes, sometimes paying cash for a solar system may not fit your cash flow or investment objectives. Given this, our lender pool offers programs that provide you ways to monetize the tax incentives upfront in return for instant utility savings.