Solar power has gained a lot of attention these last few years as the answer to the high cost of energy for the home. Sunny California boasts 44.92% of all homes with solar power and the 2020 Solar Mandate (new homes must have solar systems) will likely add to this. With electric vehicles continuing to expand their reach into the auto marketplace, this home energy solution can also power your commute.
For many home owners the question is will the installation of solar panels result in lower utility bills. I have heard from many different clients that they save more than enough to offset the costs of the system. Between the hot summer months where running the air conditioning is a must if you are not near the ocean, to using electric heat on those chilly days and nights going solar is definitely an immediate benefit.
Long term Benefit
In addition to the immediate reduction of your utility bill, you will see your energy rates remain the same for the duration of your solar service agreement.
You can document your savings for future buyers of the home by saving before and after utility bills. Studies have shown that every dollar saved in energy payments adds $20 to your home’s value. Additionally, lately homes with existing solar systems are selling faster as they are in demand.
What happens with the solar power system when you sell the home will depend on how you chose to install the system. If you opted to buy the system outright, then it transfers with the home much like any other appliance in the home (a dishwasher, a stove, etc). If you leased the system, you will have to work with the leasing party to have the buyer take over the remaining leasing period.