LostSoul5 t1_iyekfgf wrote
Great post from a realtor's perspective OP!
>Use your solar audit to figure out when your break-even point should be. For example, if your typical electricity bill is $300 a month prior to solar, and you expect to save 50% that equals $150 per month in savings. If your system paid in full with interest costs $35k its going to take a little over 19 years to start capitalizing on the savings.
You should have ended this section at Use your solar audit to figure out when your break-even point should be It's difficult to make a blanket statement like this on payback period as there are many factors at play. This would deter most who are considering solar to walk away. Many will oversize their system these days to the maximum allowable size to lower their payback period. There are too many factors at play to generalize about this, and you are correct in saying the solar audit is key before moving forward.
Solar leases work for very few and generally come with crippling terms and conditions to end or transfer the lease. If at all possible, always buy outright. There are significant savings when buying outright over financing.
Your tips for homebuyers and sellers are helpful in RE transactions that have solar panels on the property.
Truthfully without even touching on the incentives out there, your post would dissuade many from going solar. Incentives for clean energy generation can be found by zip at dsireusa.org and this helpful infographic breaks down the solar tax credit, but keep in mind that the 10% bonus for domestic equipment is for commercial solar projects:
If you are considering solar, have a read through this post:
There are many helpful tips that go beyond examination from a real estate perspective, and they dovetail nicely with this post.
kittytittymeowmeow t1_iyep3m9 wrote
This is also a super informative post
I think most residents would love to buy outright but few can throw away 30k in a day.
I wish the state could have a nonprofit solar company to increase solar access and utilization. Maybe using extra electricity for town buildings or something. I don't know. I just feel like we are behind in green energy. We're a small state so we need to find more compact resources. We can't have massive solar or wind farms. I'm rambling at this point.
StodgyBottoms t1_iyerm7x wrote
Every new box store in the country needs to have solar on its roof. I don't know why we aren't doing that, it seems like a no brainer.
kittytittymeowmeow t1_iyethsx wrote
Absolutely!! And strip malls and shit too. Schools, town buildings.
HazelFrederick t1_iyexafr wrote
Most public schools in Connecticut either have solar now or can through the state microgrid program.
Swede577 t1_iyevcsp wrote
I used a low interest home equity loan from my credit unit 8 years ago to finance my panels. I believe energizect.com also has low interest loans. Every month for the 6 years it took to pay off my panels my monthly payment was less than or equal to my average Eversource bill. My Eversource bill has been just the $9.62 connection charge since I installed them. I basically paid my credit union for 6 years instead of Eversource. You may also be able to deduct the interest on the home equity loan when you do your taxes.
kittytittymeowmeow t1_iyewc08 wrote
Have you looked at the rates?!?? No thanks. Now is not the time. I'm so sick of people sharing there experiences pre-pandemic.
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