In California, a homeowner installing a solar system on their home will increase its value by an average of $17,000, according to an “Open Web Site” study by Lawrence Berkeley National Laboratory. The analysis of 72,000 home sales from 1999 to 2009 showed that the almost 2,000 homes with roof-top solar systems attracted higher bids from buyers who wanted to save money on utility bills and reduce emissions of greenhouse gases.
This customer had solar on his bucket list: he had thought about going solar for years! Recently, a painful round of LDWP rate increases provided the catalyst to pick up the phone and get the ball rolling.
The customer is environmentally minded and wanted to do his part – as well as insulate himself from future utility rate hikes. The appealing ROI on a solar installation, along with the green aspects of going solar was a double win for the customer.
Solar Misperceptions – Part Three: Does a Solar Investment Pay Off?
In part three or our series, Matt Ziskin, Sr. Director of Marketing discusses the payback of residential solar under different payment plans.
Like any home improvement, solar systems can vary widely in cost and size. And now, there are more payment options to make solar accessible to more homeowners. Ziskin highlights three ways to think about the financial benefits of installing solar. “Most homeowners evaluate the cost of solar in terms of how much money they will save off of their monthly utility bills, how quickly they can recoup the cost of the system with their post-solar energy bill savings, and how much they can save compared to utility electricity costs over the life of the system.”
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