Should You Get Solar Panels?

We've had a lot of clients ask us whether solar panels are a wise investment. A recent client said, "We recognize solar panels won't be a money saver any time soon, but we like the environmental impact, and we can fold the cost of a new roof into the project, so the tax credits are an appealing offset to the upfront cost. But, we don't know if solar panels are a good thing or bad for the resale value of a house."

Short answer: Solar panels won't add to your home's resale value and can be a bigger headache than they are worth unless you're planning to stay in your home for a LONG time.

While they wouldn’t prevent your house from selling, they most certainly won’t make you more money. We have yet to witness buyers looking for solar panels as a criteria. We would only support doing it if you will be in the house long enough to offset the cost with your own energy savings. People who elect to go solar tend to make the decision based on environmental impact, which can be debunked with the energy costs (shipping, manufacturing etc) to get them. And remember, you still need a battery back up.
 
Another big concern is volatility within the solar industry. Solar businesses are constantly changing hands. They don’t have great customer service and parts are hard to come by. You would need to remove the panels in order to make repairs to your roof and few companies offer this service. Make sure your existing roof is new and water tight before you embark on panel installation.  

If you decide to go solar, talk to us about how to structure it. There are different options available to lease or purchase. This would affect contract terms with a buyer f you decide to sell your home. You would be required to pay them off at closing, which would greatly reduce your sale proceeds. We've heard horror stories of predatory leasing terms because the industry isn't regulated. Imagine selling a $300,000 house and having to pay $60,000 at closing to pay off your solar lease because the payments you've made on them for years went to front-loaded interest!

Always call us before making an expensive decision related to your home. Our experience has led us to strong opinions on sunrooms, screened porches, pools, decks, garage enclosures, etc. We're here to discuss the impact of improvements - just part of our full service approach!