Solar panels are a big investment, and most purchasers expect a payoff. Not only are solar panels great for the environment, they’re also easy on the wallet… if they work well.
Most people spend thousands of dollars on their panels with the reasonable expectation that after a few years, they will begin to pay for themselves. If you want to be absolutely sure that they will, then you need a solar panel warranty.
What Are Solar Panel Warranties?
At its most basic, a warranty is an agreement with a business or manufacturer that they will repair or replace an item for a certain amount of time. In this case, the company who sells you the solar panels should issue a warranty to protect them. There are two different kinds of warranties: a solar panel performance warranty and an equipment warranty.
Solar Panel Performance Warranties
The purpose of the performance warranty is to guarantee the production and output of your solar panel setup. With a solar panel performance warranty, you can expect your panels to still be producing 90% of their maximum output after 10 years, and 85% of their output after 25 years.
That means that for the first 25 years of their use, you can call your solar company and get free maintenance and repairs if your panel production ever unexpectedly drops below this threshold.
Equipment Warranties
Equipment warranties are often separate from the solar panel performance warranty. An equipment warranty protects the materials and panels themselves. If they are damaged from hail or high winds in a storm, were shipped out and installed with defects, or other problems from regular wear and tear arise, then your company will send you replacement panels or parts free of charge.
You need to check the fine print of your agreement to see if shipping and installation fees are included by your panel provider or if they will need to be covered out of pocket. Most equipment warranties are shorter than performance warranties, but you can typically expect your materials to be covered by your manufacturer for around 10 to 15 years of use.
Why You Need a Solar Panel Warranty
Solar panels area great for the environment, but most home and business owners who decide to take the leap and install them also do so with the expectation of a financial reward.
The easiest way to determine how long it will take for your panels to pay for themselves is by dividing the total cost (materials, installation, etc.) by the annual benefits (energy cost cuts, tax incentives, etc.). The number you get will be the years your panels need to perform before you start receiving a financial benefit.
If your panels only work for a few years before their production drops or they are irreparably damaged, then you are out a significant investment with no return.
Don’t let this happen to you!
Instead, make sure you protect your house and your hard-earned cash with a solar panel performance warranty and an equipment warranty to ensure yours run well for years to come!
