My neighbor Pete Smith is a local real estate agent, and when I asked him about the value of adding solar panels to a home, he was kind enough to write this for me:
The return on investment for installing Photo Voltaic Panels on your property is the minute you install them as the value of your property is increased by roughly the cost of the system. Consider that anyone purchasing a property with basically little or no electric bill is not only willing to pay more for the property because they are not paying for electricity, but they feel good about doing it because they know that they are doing something good for the environment.
Another way to look at the cost savings on a PV System would be to look at what your payment on a home Equity line/loan would be versus your monthly Electric bill. If you are paying $200/mo on electricity and could wipe out that bill with a $20,000 PV system, the payment on the associated $20,000 loan would be about $100/mo saving you roughly $100/mo from day one. Not to mention that you likely can write off the interest paid on the loan and you likely can’t write off your electric bill.
As a side benefit, the panels protect your roof from wind, rain and most damagingly the sun extending the life of your roof where covered. Likewise, the panels also absorb the heat from the sun keeping your house cooler on hot days.
Thank you Pete for sharing your expertise with us! (Pete already has solar panels on his house!)
Marni Kamzan
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment