The Value of Solar
The Value of Solar
Home Value
Industry studies have found that solar can increase the value of your home by approximately three and a half percent when financed or purchased with cash. Homes that have solar installed often sell faster, and at a premium compared to homes that do not.
Total Value Over Time
All solar installations start building value immediately after being powered on. Purchasing with cash has the highest long-term value. Financing allows you to immediately enjoy clean energy with a small initial investment. After your solar system is fully paid off, you will continue to enjoy the system with no monthly payment.
Solar Incentives
Solar panel systems, solar panel systems paired with batteries and standalone batteries are all eligible for federal tax credits until the end of 2034. Reach out to your licensed tax professional to determine your eligibility for any federal, state or local tax incentives.
Understanding Your Solar Estimate
You can get a cost estimate for a solar panel system from multiple installers. Your solar estimate will show a total dollar cost for the total system size and capacity, typically measured in kilowatts. The total system size and capacity for your home is determined by how much energy you use along with your roof’s sunlight exposure, and panel efficiency. System size is shown in kilowatts (kW) or watts (W).
Comparing Estimates Using Cost-Per-Watt
The best way to understand and compare estimates between different installers is to determine how much your solar panel system will cost per watt ($/W). You can do this by taking the total dollar cost of your solar panel system, subtracting out any included battery costs, and dividing it by the number of watts (kW x 1000).
Understanding Financing Costs
It’s crucial to obtain both cash and financing estimates for your system so you understand how much you are paying in total. By comparing both options for a solar panel system, you can uncover the true costs of financing.
If you are considering financing your solar panel system, it’s important to identify any additional fees in your estimate as they may be the reason for a higher solar estimate. Most installers work with third-party financing companies to provide you with financing options. Those third-party financing companies charge installers for offering financing options to customers. These are known as dealer fees. As a result, installers will charge customers additional hidden fees to make up for extra costs like dealer fees.
To understand the true cost of your solar panel system, compare the estimate between your cash option to your financing option to view how much financing fees the estimate includes. Hidden fees like dealer fees may not be shown upfront in your solar estimate.
Greenvoltra’s solar system solutions come with a complete price breakdown, with prices available for each individual item and service included in the solution.