While solar panels still aren’t being used in every home, they are definitely becoming more common. The investment it takes to install solar panels has gone down significantly in recent years making this an option for more people. If this is something you have never considered, now might be the time to give solar a look if you want to capitalize on the beautiful Clearwater Beach sunshine for your energy needs. In addition, greater demand for the product has made it easier to find an experienced solar contractor.
Benefits of Installation
Homeowners who choose to install solar panels on their homes will benefit in many ways. You may be eligible for tax credits and other rebates. In addition, you will save on the cost of electricity over time, which will pay for itself if you own the home long enough.
For those selling a home that has solar panels, the property may can command a higher price because of the savings that is passed on to the buyer through lower utility bills. The buyer won’t have to pay for installation, but they will still appreciate the benefits.
The Challenges of Solar
A homeowner who is selling their home should make sure the appraiser includes the solar panels in the assessment. While you may think this would be obvious, not all appraisers include it, especially if there are very few homes in the area with solar for comparison.
If the seller factors in the solar panels in the price but the appraiser doesn’t include it in their value estimate, there may be a significant difference.
Buying a Home with Solar
If you want to buy a home that already has solar installed to save you the hassle, make sure you ask the right questions. First, find out who the manufacturer was request copies of all paperwork on the system in case you have issues or need to contact the company about a warranty.
You also want to know if the panels are owned or leased. If leased, you may assume a monthly cost, which will impact the monthly payment on the home. You will also want to know the installer, which may not be the same as the manufacturer. The installer should carry a warranty as well for the work in case of problems with the roof.
Make sure you know what kind of warranty is on the solar panels and who to contact if you need to find out about repair or replacement.
As solar panels become more mainstream, you may want to take some time to educate yourself if you are considering this option for your home. Contact me if you have questions about who to call or the impact solar will have on your home value.
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Michelle Chenault is your ultimate real estate resource for Clearwater, Clearwater Beach, Belleair Bluffs, Island Estates and Tampa Bay, FL. Visit my website for detailed information regarding today’s real estate markets.
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