If you considered solar panels for your house but were
deterred by the cost, it’s time to take a
second look. Solar costs have dropped significantly and in
some cases, there’s no upfront cost.
A Federal tax credit of up to 30%, good through December 31,
2019, just sweetens the deal.
Plus, solar panels could help you sell your house faster and
for more money.
Here are four things to know about residential solar:
1. Price drop
Many considered solar panels out of their league because of
cost, but prices declined 29
percent between fourth quarter of 2015 and the fourth
quarter of 2016, according to the Solar
Energy Industries Association. Costs vary, depending on
factors like roof size and how much
electricity you use, so get a quote from a solar company for
specifics on your house. Find a
ballpark on solar costs and payback at EnergySage,
energysage.com.
2. Leases and farms
In some states, solar leases can give you the benefits of
solar without a big cash outlay. Monthly
payments on the lease make this a lower-cost option. Leases
should be thoroughly reviewed
and be sure you fully understand the terms before signing.
When you sell, the lease can be
transferred to the new homeowner. Community solar—a way for
residents of a community to tap
into and share the benefits of a solar “farm” without
installing panels on their own homes—is
becoming more common. The Community Solar Hub says 26 states
now have community solar
projects.
3. Misinformation
Solar myths abound. Among them: Myth: Solar is too complex
and unreliable. Truth: Panels are
reliable and technology advances are making them better
every year. Nothing changes in how
things in the house work. You’re just generating power on
site. Myth: My city is too cold or
cloudy for solar panels. Truth: You don’t need blazing
sunshine every day. Solar works in areas
where it’s cold, snowy, foggy, and cloudy. Check out if your
home is a good candidate for solar
with Google’s Project Sunroof. google.com/get/sunroof
4. Resale value
In 2015, National Renewable Energy Labs found that homes
with solar panels on average sold
20% faster than other homes and for 17% more than non-solar
homes. Solar panels also
increase a property’s perceived value, said 42% of brokers
and agents surveyed in the 2017
REALTORS® and Sustainability report by the National
Association of REALTORS®. Learn more
about residential solar at: seia.org/consumer
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