As more and more homes go solar in your neighborhood, you might be wondering: Should I be going solar, too?
My answer is yes, especially if you live in California!
As a real estate expert who truly cares about my community, I’m just interested in making someone’s homeownership experience better. And for many homeowners, that involves using sustainable energy instead of being at the mercy of their electric company’s price hikes.
And I’m not the only one who thinks this way. Energy Consultant Lindsey Tschappat of Sunder Energy says that, beyond being overall better for the environment, there are plenty of reasons to go solar, especially within the next couple of years.
f haven’t heard of Sunder Energy, they’re a team of energy consultants who help homeowners figure out the best path to getting renewable energy for their homes. They work with only the highest-quality solar energy companies, one of which started out right here in Temecula!
After years of helping homeowners in the San Diego area save money with solar energy, Lindsey has noticed 5 benefits of going solar that I think you should know.
1. You comply with California’s Solar Mandate.
You’ve likely heard that, as of 2020, California requires all new homes to be built with solar energy panels. The state also requires that 60% of pre-existing homes have solar energy by 2035, and 100% by 2045.
One of the biggest reasons California is implementing this mandate is to reduce the greenhouse gas emissions from buildings throughout the state. By going green now, you’re saving yourself time and money later on.
2. You save money.
The average solar panel is guaranteed to last for about 25 to 30 years. And homeowners who go solar usually break even on their purchase between 8 and 10 years. That translates to huge savings in the long run.
“That’s essentially like getting free energy for the next 15 or so years after you break even,” says Lindsey.
Plus, as solar technology has advanced, panels now degrade much more slowly than before. Top panels are still producing 92% of their original power after 25 years.
That’s a big deal, considering that the average panel degrades by 1% each year until it’s operating at about 80% capacity by year 25 or 30. The more solar tech advances, the more money it helps you save.
3. Going solar protects you from soaring electric bills.
Reliable solar panels can also protect you from rate hikes from your local utility company. Lindsey says the average homeowner cuts their monthly energy bill in half when they go solar using a power purchase agreement.
“We see anywhere from a 20% to 70% reduction in monthly payments when customers go this route,” she says. “And there are no other costs involved, like equipment, maintenance, and insurance. It’s just that monthly payment.”
For example, one of Lindsey’s customers, Michael, went from spending $390 a month on his electric bill for a family of four to $178 with solar energy.
Savings are even higher right now because solar interest rates are so low due to the pandemic. Homeowners are getting rates around 2% over a 25-year period, which was practically unheard of before.
4. You can take advantage of the federal solar tax credit.
Did you know the federal government is offering a solar tax credit until 2024? Right now, you can take 26% of your solar purchase costs off your tax bill.
“For a larger system that’s coming in at around $40,000, that tax credit will save you just over $10,000 on the solar equipment alone,” says Lindsey. “So this federal tax credit is really huge in helping people go solar.”
In 2023, the tax credit will decrease to 22%, and by 2024, the tax credit will be gone. So take advantage of it now if you can.
5. Solar panels may increase your home’s value.
Thinking of selling your home in the near future? Purchasing solar energy panels may help you increase the price of your property.
The specific dollar amount that solar adds depends on the installation and property. But a 2019 Zillow study shows that, on average, homes with solar panels sell for 4.1% more. This comes to about $9,000 for a median-valued home.
Thinking About Going Solar?
If so, that’s wonderful! I love seeing homeowners improve their experience and achieve their goals.
For pursuing the solar route, I recommend working with Sunder Energy. As a consultant with Sunder, Lindsey sits down with you to figure out your unique situation and energy needs before suggesting a path that will work best for you.
Then, depending on the route you choose, she connects you with a reputable solar company that will install your new solar panels in as little time as possible. Yes, it’s that easy!
Click here to learn more about how you can save money with solar energy.