Choosing to go solar is an important long-term investment that offers plenty of incredible benefits. After all, a lower electricity bill is always welcome. However, some people are worried about choosing the solar route simply because they’re unsure of what the future will bring. For example, one of the most common questions we tend to tackle is what if I sell my solar home? More specifically, will doing so benefit my bottom line?
Before we answer that question, let’s explain why going solar is a smart decision.
The Benefits of Purchasing a Solar Home
No matter how much you plan on spending when purchasing a new home, there’s always a big chance you’ll end up going over budget. Unfortunately, that’s one of the top reasons why people decide not to install solar panels, as they’ve already spent more money than they’d anticipated. But that’s where they make a mistake.
Decreases Your Energy Bill
One of the top expenses you’ll have to pay in your new home is the electricity bill. By average, that can end up being up to $200 a month. Multiply that by twelve months, and you get a whopping $2,400 annually!
But when you install solar panels, you will basically slash your electricity bill in half (at least!).
Adds Value to Your Home
Installing solar panels will increase the monetary value of your home, thus increasing its sale price (even up to 4%). Since plenty of Americans are considering going solar, if your home already has panels installed, you’ll be way ahead of the competition.
Reduces Your Carbon Footprint
There’s no question that we should all try to reduce our carbon footprint. With that in mind, using solar energy is an excellent way to start.
In fact, solar panels help reduce the emission of CO2 because they are a renewable, 100% green source of energy.
Selling Your Solar Home
Now to answer the question ― will solar panels affect your bottom line? In short, yes, they will, and for the better!
When you decide to sell your home, one of the main attractions you’ll have to offer are your solar panels. And we have to say that a home with its very own power source is incredibly enticing!
But when communicating the benefits of your solar home to potential buyers, you need to consider how you acquired your solar system. More specifically, did you pay cash or finance it?
Cash Payment
If you paid cash for your system, then you’re free of any obligations to your solar provider. Needless to say, this is the most attractive option for both you as the seller, and potential buyers.
Another plus is that the warranty will transfer to the new owner.
Financing
If you purchased your panels through financed solar then you have two options:
- Make a lump-sum payment in order to free yourself of any obligations toward the provider.
- Take off the loan amount from the overall selling amount of your home.
Alternately, the new owners can qualify to take over the loan payments (if the loan is transferable).
The Bottom Line
If you were hesitant to take the leap and purchase solar panels, hopefully, we’ve managed to persuade you otherwise.
As you can see, there is basically no downside when it comes to using solar energy! Not only will it decrease your energy bill and reduce your carbon footprint while you’re living in your solar home, but it will also increase the overall value of it when the time comes to sell it.
So, if you were wondering what if I sell my solar home, or will it benefit my bottom line, the answer is simple ㅡ you can, by all means, expect to turn a profit thanks to your panels! Don’t waste any more time, call Atlantic Key Energy for an estimate!
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