Adding a solar energy system to your home or business is a demonstrated money-saver. Sourcing energy directly from sunlight costs a fraction of paying the power company for your electricity. Solar energy system owners’ energy savings rack up, over time saving homeowners $50,000 plus, with commercial properties often seeing savings of $1,000,000 plus (over a 25-year period).
Beyond simple savings, solar adds to property value
When deciding to invest in a solar energy system for your home or business, don’t forget to consider the increased value of your property. According to the Missouri Department of Economic Development, homes with provable energy efficiency upgrades experience up to a 13 percent sales premium price and sell faster.
Solar adds value to a home by making it cheaper to live in
Solar is no longer a luxury item. The lower cost of solar technology, paired with affordable, no-money down financing options, has fast tracked solar as a savings mechanism for the middle class. Converting to money-saving solar is now in easy reach for homes of all shapes and sizes, with homeowners capitalizing on the long-range financial impact.
The real estate industry is responding to the demand for efficient homes
Energy efficiency and responsible environmental decisions are increasingly important to the modern consumer, and that trend is just getting started. From new builds to figuring out how to get the best from existing structures, efficiency is becoming the next real estate buzz word.
The local Multiple Listing Service (MLS) has recently added “green fields” to capture real estate efficiency data important to the modern buyer. Additionally, the Missouri Department of Energy has initiated a Green Building Network to document and recognize efficient homes, as well as information and programs to educate realtors, lenders, appraisers, and homebuyers on proper real estate valuation. These steps all lead to better documentation of and access to efficiency information.
Specialized realtors such as Jason Nowlin of NowlinRE actively seek out green homes to better serve their clients. When asked about adding solar and energy storage options to a home, Nowlin said, “It just makes sense on every level. The benefits include lower monthly bills, increased value and return on investment, a better quality of home and life, the security of having a much higher potential of your home withstanding damage and keeping power after an intense storm that could leave most homes damaged, destroyed and/or without power, clean energy, and less pollution and impact on the planet.”
Homebuying is a great time to think about solar
Many, but not all homes can be retrofitted for solar. Factors such as lack of available roof space, orientation toward the sun, or shading can make a home non-solar compatible. When possible, forward thinking homebuyers who wish to reap the benefits should have a home evaluated for roof exposure and examine Homeowner Association (HOA) bylaws prior to purchase.
Homeowner Associations and Solar
Homeowner Association bylaws can dictate if solar panels are allowed within the neighborhood, or their placement. Opposition is usually based on the aesthetics of older style, blue panels, but overall the appearance of solar has come a long way.
Today’s premium installers take measures to ensure an attractive installation. The highest quality monocrystalline panels are black in color and can be installed using low-profile racking systems that hug the roof for a more streamlined appearance. SunSource Homes takes the extra step of running conduit under the roof, through the attic, hiding unsightly wiring that some installers trail across the roof.
With data pointing to solar adding a minimum of $15,000 of value to a home, solar will help maintain and raise home values in a neighborhood, a counterbalance to common HOA objections that it could harm property values.
Education is key
The biggest obstacle to properly valuing a real estate investment is education. Buyers, realtors, appraisers and sellers need to understand the newest technologies and how the homeowner’s bank account is affected.
The bottom line is that solar is a smart investment, and its value will become increasingly more recognized as practical and educational initiatives such as MLS green fields, the Green Building Registry, and more reach increasingly more buyers.
SunSource Homes supports customers and the real estate market in realizing the value of solar through:
- Solar systems expertly designed for long-term financial value and curb-appeal.
- A 25-year comprehensive parts and labor residential solar system warranty, transferable if you sell your home.
- Working directly with your Homeowner Association for approval and to educate your neighborhood about the value of solar. We can even help organize a neighborhood group buy to get group pricing of solar installations.
- Resources for you and your realtor to help realize value from your solar-powered property, if and when you sell.
- Free solar evaluations for future real estate purchases.
Find resources and request a free, no-obligation solar quote at www.sunsourcehomes.com.
Contact: 816-783-3863 or firstname.lastname@example.org.