The Solar Real Estate Market – Why Go Solar
The U.S. solar market has grown substantially over the years, especially in sunshine states like California, Arizona, and Florida. Previously, solar was something that was not very accessible to homeowners. Now, with so much to be gained from energy efficiency the solar market is booming. So why would you upgrade your home with Solar energy? There are many reasons that include financial and environmental benefits. Here are some of the main reasons why homeowners are jumping on the solar train and converting to energy efficient means of powering their homes.
1. Saves You Money
Depending on the state you live in and the incentives available this may fluctuate a little, but overall these savings tend to be universal for homeowners living in the states. Monthly savings from solar can exceed $100 dollars a month in many of the states. If you add those savings up for a 20 year period, which is typically less than the length of the warranty for solar panels, you can calculate a savings of over $30,000 dollars. There are homeowners in Arizona, that on average save $64,000 dollars after 20 years of going solar.
2. Instant Savings
There are Solar purchase power agreements, and solar leasing options that have made it possible for homeowners to get into solar energy for next to nothing, and sometimes for no money down. There are ways that homeowners can finance as they go, making it a more affordable option then most people realize. After the solar panels are installed you pay the solar company that owns and manages the panels rather than the utility company. The savings are instant. Pay as you go solar is available to all homeowners in the States.
3. Return on Investment
If you were to drop cash on a solar system, your return on investment could be made in about 10 years depending on the state you live in. In Arizona, it can take a homeowner about 5 years before the savings they made matches the cost of purchase. In this case, your return on investment is sooner than many anticipate.
4. Added Property Value – Faster Sales Process
If you own a home with solar panels it can increase the property value and also make the home attractive to buyers. Buyers that know they will get immediate energy savings may be more likely to purchase a home on the market that is equipped with solar panels. You could say that a home with solar panels is seen in the same regard as a home that offers other amenities like pools and sports courts. These are attractive incentives for buyers. There are also studies that suggest that homes with solar panels have seen sales prices increase over $15,000 thousand dollars after hitting the market. Prior to selling your home with solar, you should consult with a solar broker to find out the true value of your home and how to leverage that added value for resale.
In 2009, the $2,000 dollar limit on the Federal Solar Tax Credit was lifted. You can receive as much as 30% of the total solar system expenses back for the cost of the equipment and installation fees. As a result, you could save up to $7,500 dollars on a home solar system that is worth close to $25,000 dollars. If you combine that with local state rebates, Solar Renewable Energy Credits, the cost of going solar can literally be reduced by 50% or more of the initial quote.
6. Investing in Solar is Safe
Energy prices in your local market can be as volatile as the stock market. At any time an energy company can create peak energy times, increase rates, and charge for just about anything they want. When going solar it’s pretty easy to calculate how much energy you will be generating and what it will cost you monthly for the next 20 years. Having this fixed rate allow homeowners to have a fixed dollar amount set into their monthly budget.
7. Solar Panels Work and Are Efficient
The manufacturer’s warranty is usually good for 20-25 years. This is a standard performance guarantee that you will find is offered with most solar solutions. It’s also industry standard to also guarantee that performance after the 25-year mark. After 25 years it is said that most solar systems will continue to generate energy with over 80% efficiency. Solar panels usually exceed that guarantee and can last anywhere between 30-40 years.
8. Better For The Planet
The money saved from going solar is reason enough to upgrade, but there are other reasons that might make a homeowner choose to go solar. The impact on the environment is extremely beneficial. The United States is right behind China in carbon dioxide emissions. We can lessen our carbon dioxide emissions by ditching the local utility company and opting into the generation of clean energy with solar panels.
9. Free Yourself From Energy Dependence
If you are like me you don’t like depending on others for anything. In the case of energy, depending on the Government to produce what I need is not appealing, especially when our own Government is dependent on other countries of many of the natural resources we currently use to produce energy. By freeing yourself from the dependence on this energy, you can also help us as a country lessen our dependence on the foreign importation of natural resources. Going solar is a great way to aid that process.
10. Going Solar is Not as Hard as You Think
Technology has made many things in life easier. The ability to get online and search for a competent solar specialist is also easier than ever. There are hundreds of solar companies across the U.S. dealing in solar energy that have great information on the web to help educate you and get you on the path of going solar. You can contact any one of these solar specialists to receive an energy audit or a quote for solar installation. Typically the quotes are free, don’t hesitate to contact someone about the process and get pricing.
You can learn more about saving money with solar energy by viewing this energy savings chart released by Energy.Gov. • solar energy savings chart