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3 Reasons To Go Solar & 1 BIG Reason NOT To

Los Gatos Real Estate Agent
A question we have been getting a lot lately is "Should I invest in solar energy?" and if the answer is yes, "Should I buy a system, or lease it?".

There are a few things you need to consider before deciding to invest in solar energy. The first thing is how much energy will you save? According to experts, about 50-90% of the energy you use in your home can be offset by a solar system and is usually an economic advantage of $100-300 a month.

The next question is this: Should you lease a solar system, or buy it? Currently, 90% of people lease their system. However, the break-even point for solar energy is around 5-8 years, so if you know you are going to be in your home for a long period of time, purchasing the system may be a little cheaper for you.

Another question people ask is, "Does solar energy increase the value of my home?" Although it is a great feature to have on a home, we have found that at the current time, buyers are not paying a premium for a home with solar energy. It's a nice bonus, but not something that will necessarily increase the value of your home.

One thing to watch out for is leasing on your solar system. When you sell the home, the buyer will assume the lease, but you may have to incentivize the lease or buy out the system to make the sale.

Finally, you need to check to see if your home is a good candidate for solar energy. Not every home is, especially if you have bad exposure and lots of trees around your home.

If you are thinking of moving in the next few years, don't pull the trigger on solar energy just yet if you are looking for a return. However, if you are in a home you plan to be in over the next 10 years and beyond, this is a great investment opportunity for you and you can save a lot of money down the road.

If you have any questions for us at all, please feel free to send us a quick email or give us a phone call. We would be glad to help out.

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