Are You Thinking Of Solar Energy?
With the soaring costs of electricity, many home owners are looking to reduce their consumption. Many are even considering generating their own electricity. Thanks to many improvements over the years, solar technology has become affordable and more reliable. Because of this, it has become a viable option for many homeowners. If you are considering installing solar this spring or summer, the best time to begin planning is now.
How does it work?
During the day the solar panels convert solar energy to DC electricity. This electricity is sent to an inverter which converts it to AC electricity which is used in homes today.
How much will it cost to install?
Thanks to tax credits and rebates, and depending on the set up you wish to install, a modern solar panel setup can cost between $30,000 and $40,000. The good new is that with proper maintenance and care, the panels can last for several decades and will pay for themselves through reduced utility bills after 7 to 12 years.
Will it affect my home value?
In the US, homes with solar panels not only sell for more, but they also sell 20% faster. Unfortunately there have been no studies in Canada to show if the same is true here.
What are the benefits?
More Money in Your Pocket
After the initial investment, you will not be paying for your electricity. No matter how much you use, you are limited only by what you collect.
More Eco Friendly
With solar, you are using the energy of the sun and not relying on fossil fuels.
Increase the Wow factor of your home.
Adopting solar energy in your home now will put you ahead of the curve when it comes to reducing energy consumption. Energy consumption is something that many home owners are concerned about.
What are the drawbacks?
The solar panels only generate power during the day. At night you will have to rely on stored energy gather during the day. During the winter months when the days are shorter you may need to supplement your energy needs from another source.
Modern solar panels only convert 22% of the sun’s energy into usable power. With advancements in technology this efficiency has improved drastically over the past few years. At this time though, you will still need to install several panels to provide the energy your home will need.
Do you have more questions about how installing solar panels may affect the sale of your home, or are you considering purchasing a new home with solar panels? Please contact Darlene or Paul if you would like more information on any of your real estate needs.