Save Money With Solar Panels

Chart and money representing money saved by using solar panels

It was announced recently that the Swedish "do-it-yourself" furniture and décor giant IKEA will be selling solar panels among their other products, and this has gotten customers excited about the possibilities.
While Europe will be getting the panels in stock within the next ten months, U.S. customers will have to wait – but when they become available, you can bet customers will flock to the retailer to make the switch to energy from the sun. But what exactly can you expect to get out of such a big purchase? With a price tag of over $9,000, many people are looking for a very good reason to take this plunge. So, here are a few ways you can expect to save from installing solar panels on your home:
• Tax incentives
This is available to you from both a state and a federal level. These incentives range from around 15% to 25% and all solar power devices are exempt from sales tax. Plus, you'll be able to take advantage of a 30% tax credit – and while rentals do not qualify for this particular credit, all new and existing projects do.
• Vanishing electric costs
When your home is run on solar power, there isn't a need for excess electricity. You likely won't be abandoning it completely, but you can expect to cut your bill down significantly. But remember – the solar panels don't cover the gas portion of your electric bill, so you will still be paying that.
• Increased home value
Florida is the "Sunshine State," and selling a home that can take advantage of that will net you a lot more money than one that can't. In California, a state much like Florida, homes appreciated 55% with solar panels, compared to just 45% without.
• And you won't just save money
You'll also save yourself a lot of time – solar panels require very little maintenance, other than the occasional cleaning with a rag and some soapy water. It's simple, fast, and completely eliminates any maintenance costs. Plus, the majority of solar power systems have a 25-30 year warranty associated with them, and with easy care and maintenance you can plausibly make your last as long as 40 years.

2 Responses to "Save Money With Solar Panels"

Scott Oman wrote: These are all great points but the problem people face in new markets is that appraisers have zero or no comps available to justify higher values for homes with solar.

Posted on Thursday, October 10th, 2013 at 9:24am.

Genevie Cortel wrote: I'm really happy I haven't seen this site earlier because it is awesome. I am very happy that I chose to go with solar panels. Solar is the thing for the future. The sun is free and we should use it!

Posted on Monday, February 1st, 2016 at 10:28pm.

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