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Why You Should Consider Adding Solar Panels To Your House

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Why You Should Consider Adding Solar Panels To Your House

Saving money and saving the planet go hand-in-hand when you add solar panels to your house.

The even better news is that the cost of going solar decreases every year — and the value of your home goes up.

Solar panels increase home values by between 3% and 4%, according to EnergySage.

"On average, homebuyers are consistently willing to pay PV home premiums of approximately $4 per watt of installed solar capacity. For a standard 6-kilowatt solar PV system, this means that solar can add $24,000 to your home’s resale value," according to the online solar marketplace.

Solar Power Could Mean More Earnest Money

When you prepare to sell your home, will buyers care if it has solar power? Will buyers anticipate long-term energy savings?

The competition for solar-powered homes is high. More competition means buyers put down more earnest money.

Higher earnest money is only one indicator that buyers are willing to pay more for a solar-powered home.

Solar panels now cost less and are more effective, and the U.S. Congress has extended a 30% federal tax credit for solar energy systems out to at least 2021.

3 Questions To Ask Before Solar Installation

1. Which direction is your roof exposed to? In North America, roofs with a southern exposure collect the most sunlight each day. The next best exposure is west-facing, followed by east facing. Northern exposures are the least effective.

2. Is your roof fully exposed to the sun? Are you in the shadow of a tall building? Are you in a forest where tall trees block the sunlight? Even large shade trees in your yard reduce the effectiveness of solar panels.

For the most energy, you want at least five hours of full sun exposure each day.

3. How many square feet are receiving sunlight? The angle of your roof and the square footage both count.

The average home solar system generates 5 kilowatts. This requires 20 solar panels, which take up about 500 square feet of roof space. This is well within the size of most homes.

A roof with a steep angle — 45 degrees or more — may not receive enough sunlight on the far side. The best roof angle is 30 degrees.

Flat roofs and low-angle roofs have the solar panels installed on brackets at a higher angle to maximize sun exposure. Most roofs do receive plenty of sunlight.

Posted-In: Education Personal Finance General Real Estate Best of Benzinga

 

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