Will my home value increase if I install solar panels?

Will my home value increase if I put solar panels on them?

Solar energy is considered to be cleaner, greener and cheaper as compared to the electricity purchased from other utility sources. Solar panels can reduce electricity bills; even the government promotes solar energy with federal tax credits for solar panel installation on your home or business.

In this era of technology, the latest technology makes life easier. With the help of the solar panels, all-electric appliances of your home will run on the solar energy without needing the electricity. There are many benefits of having solar panels in your home; some of them is described below.

Reduce electricity bills:

One of the main advantages of having solar panels in your home is the reduction of electricity bills to a minimal, zero or even making money back from the electricity company. It will increase the value of your home to install solar panels on your home. The solar panels will install on the roof of the house or on the property.

Long term investment:

The solar panel installation for homes becomes cheaper due to competition. The solar panel system has a long life without having the need for any maintenance. Solar panels can be resold at a reasonable price or can be easily shifted to another place.

Property tax:

Another main advantage of solar panel system installation for homes, it can increase the value, but the property tax will not increase. With no increase in property taxes, Texas residents can also take advantage of the federal solar investment tax credit offered by the IRS.

Eco-friendly:

The solar panel systems are environmentally friendly and no effect on the environment. With the help of the solar systems, the resources used in making the electricity will be saved. And you will contribute towards the society in saving the electricity for the other purposes.

Modern technology:

Solar panel systems are constantly evolving. Solar panels are considered advanced technology, and people always prefer to have new technology in their homes. So, it will increase the value of the home in which the solar system is installed.

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Solar Energy ROI

Return On Investment with Going Solar

Our customers pay an average of $2,000 per year for dirty power from their electric company. (Your household’s current cost is likely very near to this figure.) This means that, considering zero inflation of price per kWh from your utility, you will have paid them roughly $50,000 after 25 years. Comparably, a Sunshine Renewable Solutions residential solar system offering 100% offset of household power consumption and a 25-year hardware warranty typically ranges between $15,000 and $30,000 in total cost (before the 30% tax credit). Although the upfront cost of generating your own clean power via solar may seem daunting, it truly is a more affordable way to power your house.

The potential for savings is evident at this point, but we’ve yet to factor in how much you could save on electricity costs. Let’s say that your 9-kW system costs $24,000 in total. After the 30% federal tax credit, your cost for this system would be $16,800. In Houston, we receive a healthy 4.65 average hours of peak sunlight, which means your system produces about 41.85 kWh. At the current average price of $0.109/kWh, this system will save you about $4.56 per day, or $1,600 per year, and will pay for itself in full within roughly 10.5 years. Every watt of power you generate after that point will be money earned and carbon emissions saved!

It turns out that the typical IRR for a solar investment is between 8-10%, which is incredible when you realize that’s greater than or equal to the return you would expect on the stock market.

If you’re like us in that you’re always trying to find the next creative way to reduce your overall cost of living, let us show you how tomorrow’s technology can do so for you—starting today!