Is a Solar Panel Warranty Worth It?
Having a solar protection plan is one of the best decisions for homeowners to manage the cost of unexpected solar repairs. Solar extended warranties will give you more benefits beyond your solar warranty period, doing a great job of adequately maintaining solar panels that generally wear out for up to 25 years.
What Is a Solar Panel Warranty?
A solar panel warranty is an assurance or certification from a solar manufacturer or an installer that protects customers for panel reliability and production output.
Types of a Solar Panel Warranty
There are two main types of warranties: a product/workmanship warranty and a performance warranty.
A product/workmanship warranty covers any physical defects due to manufacturing errors and equipment failure, such as frame or glass imperfections, faulty connectors, disconnected junction boxes, damaged cell connections, defective back sheets, and so on.
Meanwhile, a performance warranty ensures a minimum base of electricity production or a specified percentage of power is maintained during the warranty period. It guarantees that your panels will produce electricity near their rated output over their lifetime.
How Long Do Solar Warranties Last?
Depending on the manufacturer and type of protection provided, warranties usually run from 10 to 25 years.
Warranties render vital financial protection for consumers and should be an essential part of the discussion when comparing systems before buying a solar panel.
Therefore, a thorough understanding of a warranty’s coverage and lifetime is essential. Avoid getting stuck with a hefty repair bill that you could have avoided simply due to misunderstanding or not taking the time to comprehend the warranty details.
You need to be careful with warranties because while various companies offer 25-year warranties, some may only cover shipping, handling, and installing a replacement panel. Others may include the replacement panel but exclude shipping and handling charges.
Solar Extended Warranties: How Do They Work
The average cost of solar extended warranties is between $350 to $500 per term. Usually, a comprehensive protection plan ranges from a 5 – 15 year term, and after adding the manufacturer warranty, that makes 25 years.
Solar panel warranties are pretty famous in the solar energy industry as new homeowners want peace of mind and ensure that their new investment will be worth it. Likewise, installers want potential buyers to know that their solar panels will be taken care of.
Generally, a typical manufacturer protects a homeowner’s solar panel from normal wear and tear and product defects—for example, a panel failing due to humidity, heat, or dust. Extended warranties usually have the same level of coverage as that of a manufacturer’s warranty; it just prolongs your coverage for another 5 to 15 years.
Things to Look for in a Solar Warranty Plan
Aside from the coverage of a warranty, don’t forget to look into the service terms. The amount of time you get your product repaired and returned to you is crucial to businesses facing significant losses and poor customer satisfaction if operations are halted due to product failure.
- Is there a deductible pay when making a claim?
- Can you make requests 24/7?
- It is guaranteed that your product will be returned quickly?
- What’s the coverage of shipping?
- Does the warranty cover the costs for both parts and labor?
The Pros of Buying a Solar Warranty
If you’re thinking of getting a solar extended warranty service contract, you may not be sure if you really need one. Compare these pros and cons of buying a solar warranty to decide if a service contract is a good idea for your solar panel.
Fewer worries, peace of mind
The most significant benefit that a solar warranty offers is removing your concerns about repairs to your solar panel. Defective panels with solar warranty: it’s just one call away. Expensive repairs that could have brought financial burden aren’t a concern: they’re likely under care of your solar warranty.
It’s an easy fix
Since you have a warranty, you only need to remember one number or just send an email for repair. Forget about searching for trustworthy repair companies; your solar contract already has the most reliable companies to take care of your needs.
No more waiting until business hours to begin your repair: solar warranty claims can be submitted online or through the phone 24/7, throughout any day of the entire year. Just call the warranty company and wait for your new panels to arrive.
Inexpensive in the long run
With a solar warranty, there are more big chances of saving from the most common repairs. The average solar warranties cost $350 to $500, while experts suggest that solar owners will likely spend between 1 – 4% on solar maintenance and repairs yearly. That will cost you a lot more than the price of a solar warranty.
It may be free
When buying a solar panel, your warranty may be free. Recently, it has become common for manufacturers to add a solar warranty in solar businesses to gain trust and interest buyers.
A great incentive for buyers
If you plan to sell your home, a solar warranty can gain confidence in buyers. Feature that your solar panel has a warranty, so repairs are completed on time and in a satisfying manner. It gives new homeowners a worry-free life that they’ll be grateful for if there are any problems.
The Cons of Buying a Solar Warranty
Despite the many benefits of solar warranty coverage, it’s not as simple as buying your plan and neglecting to take care of your solar for a year. There’s still a need to maintain your solar. For some solar owners, the expense of a solar warranty contract may actually be more than the cost of repairs.
Check if you really need it or not
You might have no claims to submit if your solar panel is relatively new (less than five years old). Not having solar repairs in a year is good, but it may feel like that the money you’ve invested in your solar warranty wasn’t worth it. However, paying a few hundred dollars is still a small price to pay for worry-free solar panel maintenance.
It won’t fix what’s already broken
Conditions due to owners’ poorly maintained systems are not covered under your solar warranty. You can’t expect your old solar problems to be fixed by your solar warranty company all the time.
Important system components may cost extra
Repairing your solar inverter and racking system can be expensive, but they aren’t covered in your basic solar warranty plans. You will have to pay extra if you want them covered.
You must carefully maintain all systems and components
While repairs are usually covered under your solar warranty, you will have to take proper care of your panels. Not only that but if you don’t do proper maintenance, your claims may be denied, as the warranty company can’t be liable for abused equipment that has not been taken care of. You’ll need to schedule regular service and have careful documentation of service dates.
Conclusion
Whether you think you need a solar panel warranty or not, there are many good things about solar warranty service contracts or even buying a solar panel alone (if you want to know the cost, click here). The pros undoubtedly outweigh the cons, which is why we recommend that homeowners consider purchasing an extended warranty plan at the time of purchase.