Is Getting Solar Panels For A Townhouse Worth It

Buying a townhouse with leased solar panels from solarcity tesla.

Is getting solar panels for a townhouse worth it.

It helps property owners save money it can increase your property s value and it decreases the carbon footprint of the neighborhood. If you re trying to get approval from your hoa board reinforce the positive benefits of solar homes in the neighborhood. Plus buying solar panels for home allows you to benefit from the federal solar tax credit and other local solar incentives. That means homeowners but not renters can subtract the credit from the federal income taxes they owe in effect reducing the price of their solar purchase by nearly one third.

When trying to determine if solar panels are worth it for you consider the size direction pitch and the amount of shading your roof has. Solar panels last for a long time at least 20 25 years in most cases so even if you don t have plans to sell in the near future you can still reap their value boosting benefits when you do eventually decide to put your house on the market. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you most property owners can break even on their solar investment in 7 to 8 years. But it s not a straight calculation.

If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in place. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. Panels that are owned add some value to the resale. Is it worth it.

The solar industry also helps support your local economy. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. However we understand that the upfront costs of installing solar can be intimidating. Large unshaded southern facing roofs are the most ideal for solar production.

Solar panels generate electricity approximately 30 cheaper than utility electricity in most locations making them worth it over their lifetime. Buying solar panels will give you the maximum electric bill savings over the life of the system.