Get free, no obligation quotes from multiple providers

State Farm Insurance Allstate Insurance Farmers Insurance American Family Insurance Unitrin Insurance Travelers Insurance

SOLAR POWER PANELS

Installing solar power panels is getting just as popular as purchasing ceiling fans these days. There may be government incentives in place that make for a cheaper installation fee which is why more and more homeowners are looking into solar panels. If you are renting a house with solar power then you can expect much lower energy bills each month. However, you can also expect a higher rent fee per month compared to houses with similar features but without solar power.

Solar Power Incentives

In most instances the only time you will be able to install solar power panels is if you are the homeowner of the property. It doesn't really make sense for a renter on a one year lease to pay $15,000 on solar panels as they are considered a lifetime investment, not an investment for one year. However, if your landlord does decide to go with solar panels while renting, then this is a definite plus for you.

How solar panels works is quite simple. Rather than rely on the electrical power from your local energy company, you are using power from the sun. The energy will be stored onto a grid and you will use this stored energy. Solar panels work a lot better in hot climates where it is sunny all the time such as Florida or California. If you are in a colder climate where it is quite dark and gloomy, having solar panels will cut back but you may still be inputting more than the sun can put out.

The bottom line is that you will end up saving money on your electrical bills by investing in solar power panels. You can reduce your bills by 100 percent and even have the potential to make money in the long run if you live in an area where it is sunny all the time. Or, you might save around $500 per year on your electrical costs. Over the long run, this adds up, however, and your system should pay for itself after around 10 to 15 years, on average.

Homeowners looking into installing solar power panels should look into the various incentives on offer through the government. Because solar power is an incredibly energy efficient home improvement, you may qualify for a tax break or rebate incentive that are in place throughout the year. If not, then make sure you at least compare companies of solar power to get the best deal on a system that is adequate for your home.

Renting with Solar Panels

Experts suggest that homes with solar panels can be appraised at around $15,000 more than homes without it. It is also suggested that you can ask for $50 more per month on a rental investment if the home comes with solar. Renters will benefit from lower power bills year round, even if the stormy rainy season as the energy from the sun will be stored in the grid from days when it is sunny.

Whether you are a homeowner or a renter, solar power panels do equate to an eco friendly way to cut back on your energy costs immensely. However, there are a lot of costs involved in the installation process which is why you need to think long and hard about this home improvement. Make sure you shop around and learn more about the various systems and how the panels actually work. This will give you a better idea of this is something that you are interested in investing in for the next five, ten, twenty years down the road.

Learning Center