Real Estate Watch – Berkshire Hathaway
Solar Panels on Rooftops
Why So Popular?
Years ago we rarely saw the sight of solar panels on the rooftop of a Carlsbad home. Yet today it is not uncommon to see them scattered throughout many homes in our neighborhoods. Why have they become so common and so popular? There are many reasons and they vary:
• For starters, our electric bills have grown significantly over the past several years, far outpacing consumer inflation. In fact, many of us did not realize that SDG&E raised their rate per kilowatt-hour by over 10% this past December, and there is talk of a “super user” surcharge down the road. Homeowners are looking towards solar to save money and all but eliminate their electric bill.
• As an incentive, our federal government has kept in place the 30% Federal Tax Credit for the next several years, practically reducing the purchase cost of solar by almost one third. I should note that if you do decide to invest in solar, either purchase for cash or find a way to finance the project so you can own it. Never lease solar, as this can materially impair your ability to sell your home down the road. Most buyers will not want to absorb the lease.
• Purchasing solar does increase the value of your home. When a buyer purchases a home with owned solar panels, they may be willing to pay more for the property, as their monthly costs to heat/cool are significantly reduced.
• A new “Power Wall” battery is currently being tested, which can be purchased for about one third the cost of existing home back up batteries. Once available, this will give the homeowner the ability to “keep” all of the kilowatts generated each day, as opposed to selling them back to SDG&E at a reduced price.
I’m a proponent of solar in the home and feel it can add great value, providing you will be staying in your home for at least several more years. If you have any questions about solar for your residence, feel free to give me a call. I can also recommend a solar company if needed.
Realtor • CalBRE# 01377312
7030 Avenida Encinas, Suite 100
Carlsbad, CA 92011