Solar Energy & Property Value
Solar power has been growing in popularity, and is becoming a very popular sources for energy. ONIT Energy offers a few different payment options that can fit any budget, and the benefits and savings generate a positive return on investment in the long run. While there may be an out of pocket expense, there is always a net-positive return on investment.
Homes fitted with solar panel systems are typically valued and sold at higher prices than similar homes without a solar array in the zip codes. When Zillow put together a study, they found around a 4% markup for homes with solar. Now when you consider the money you save on your monthly energy use and deduction of your carbon footprint, you may stop reading now and call for a free assessment!
The actual value-increase to your home will vary based on your location. For example, where energy has a high per-kWH cost, you will see a greater increase return in monthly savings, and interest in your home (from new homebuyers). Other things that can affect your system-value:
· Your City/State
· Per kWH cost in your area
· The scope of your array (how big it is)
· The technology (what panels were installed, and what can they generate)
· What the calculated savings are per month
The location of a home is a key factor that can really determine how much value will be increased with the addition of solar panels.
Active solar markets like California and New Jersey typically yield higher returns than comparable installations in less developed markets because buyers, realtors, appraisers, and lenders tend to be more familiar with the benefits of solar at the outset of the process.
THE SIZE OF YOUR ARRAY
The quantity of solar panels installed will directly relate to the property value increase post-installation. This increase is directly related to the quality & quantity of the solar panels installed.
The production capacity (how much energy your panels can generate) should to be proportional to the size of your house. Big house? A small array will provide some value, but more if your array is able to generate 60-80% of your monthly energy use.
The value of your system can differ based on the cost of electricity where you live. The best place to start is by simply looking at your energy bill. It helps to figuring out the cost of the system size you would need based on the kWH used. The average system installation is about $3-4 per watt.
In our southern states with serious daylight hours, a 300 watt panel will produce about 9 kWH per day. If you can calculate your daily or monthly usage, you can easily estimate how many panels you would need to fully power your home.
ONIT Energy USA will provide you with the options to get the right panels for your home. The technology & lifespan of your solar panels, inverters, racking, and other equipment can range in pricing. We can help you choose the best solar technology products to make the most of your long-term investment.
Renewable energy helps to protect the planet and reduces your carbon footprint. Using the power of the sun to produce electricity, we reduce the need for burning the fossil fuels that impact local air quality and emit greenhouse gases.
monthly financial savings
Your energy bill will decrease when you install solar panels, and it will also make your home more valuable and desirable to potential home buyers. They can also save you from potential price-hikes in energy down the road. We know the cost of energy can change rapidly, so having a more consistent fixed energy cost can save you even more money down the road.
If you are interested in learning more about adding solar energy to your home, connect with ONIT Energy. We can provide a FREE assessment, and discuss every option available in your area. Call today to learn more: 682-284-1174