Residential Solar Panels: A Guide
Solar power is a rapidly growing industry that supplies clean energy to homes all over the country. Homeowners who want to reduce their carbon footprint and protect the environment often turn to residential solar panels to power their home. Solar panels are a great way to make a home more energy efficient. Understanding how solar panels work, what makes solar panels more effective and how to sell a home with solar panels can help homeowners decide whether or not solar panels are right for them.
Purchase or Lease?
Homeowners who want to install solar panels on their home have the option of purchasing or leasing their solar panels. Some programs enable homeowners to lease without putting any money down, others require homeowners to make a small down payment. After the solar panels are installed, the homeowner makes monthly payments until the panels are paid off.
Once the panels have been completely paid for, the homeowner becomes the owner of the panels. Any revenues that are generated by the panels during the lease-to-own period may be used to pay the monthly lease for the panels.
The purchase option requires the homeowner to buy the solar panels outright. Once the panels have been purchased and installed, the homeowner has full access to any revenue that the panels generate.
In some cases, homeowners have a third option called a "power purchase agreement." In this option, the solar vendor installs solar panels on the home and the homeowner buys the power generated by the solar panels from the vendor. The vendor retains ownership of the panels.
How Do Solar Panels Work?
Solar panels are installed on the roof of the home, on the side that gets the most sun exposure every day. Some solar panels stick up above the roofing materials, others are nicely integrated into the shingles. Solar panels consist of a variety of different parts including the inverter, rack, energy storage device, bi-directional meter and the solar panels themselves.
There are many factors that affect how efficiently solar panels function. Any small amount of shade cast by nearby trees or buildings will affect how much solar energy the panels can absorb. Local weather patterns also affect solar panels. Solar panels will degrade a little over time.
Can You Sell a Home With Solar Panels?
Many Wood Buffalo home buyers are attracted to homes with solar panels. In fact, many homeowners can sell their home more quickly by specifically pointing out that their home has solar panels in their home listing. Taking pictures of the solar panels, giving details about the solar panels and providing specific information about how much money the solar panels are helping the homeowner to save per month can help the homeowner sell their home after panels are installed.
Homeowners who want to install solar panels on the roof of their home shortly before selling should give themselves at least a few months between installation and the sale of the home. This way, the homeowner can say definitively whether their solar panels are saving them money and, if so, how much.
Contact a Real Estate Professional for More Information
If you're a homeowner who is interested in installing solar panels on the roof of your home, and you're thinking about selling your home soon, contact a real estate professional to find out how you can maximize an installation of solar panels on your home to make it more attractive to buyers.