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Many people think solar will help reduce their electric bill. They might have a large monthly payment already. However, that’s not always the case. Most people don’t realize that your personal behavior and lifestyle heavily contributes to your electric bill. It’s not necessarily because a home is older or isn’t energy efficient.
Bring in an energy auditor, because an electricity bill ultimately depends on your lifestyle. Solar panels can be expensive, and you don’t want to end up paying more for what you already have. I recommend months of critical research because there are tons of different solar panel companies out there, both good and bad.
Another option is to sign a lease on a solar panel. Many solar companies are doing this. However, be aware this can cause an issue later on when you try to sell your home. For instance, appraisers don’t add value to the addition, because it’s still a lease. Additionally, the price of the home could go down to compensate for the lease payments the future homeowner will have to face.
Solar is great for the Earth, but make sure it works with your pocketbook. Don’t sign up for something for 25 years if you’re thinking about moving within that time period! I’d be happy to talk this over with you if you’re considering implementing solar energy into your property.
If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to answer any of your real estate questions!
Great video, Jill. Thanks! It's important for folks not to rush out and "go" just because it's solar. We do have solar, but trust me, I spent about 3 months talking to companies, doing online research, talking to our neighbors who have solar, analyzing our current bill vs. what solar would provide for cost savings and maintenance, and how long we realistically planned to be here ("forever" is our plan).
ReplyDeleteWe've been on solar for close to 3 years and it was a great decision for us, but it might not be for everyone, depending on their own deal. If you plan to sell before the solar lease is up? What are you going to do if the prospective owner doesn't want solar? Or doesn't qualify for it? There are lots of decisions to think about!
We plan to be here forever so for us, that wasn't a consideration. We were told it would be a cost savings of about $15 a month ($29,000 by the end of the lease), but because we've also been energy conscious in other areas, we AVERAGE almost $45 a month savings.
Everyone: please, please, please do your research and see what you're getting in to. It could be a great thing or it could be a nightmare. Everyone's home life is different so PLEASE don't make a hasty decisions.