Many homeowners are considering adding solar panels. Are they right for you?
Recently, many clients have asked me, “Should I invest in Solar Panels for my home?” While I’m not a solar or tax credit specialist, I can speak to their impact on a home’s resale value.
Short answer: solar panels do not improve resale value. For one, given the deregulation of electricity in Texas, our energy costs are low, so it would take a large number of years of monthly “cost savings” to offset the expense of installation.
Two other considerations relating specifically to selling a home with solar panels: 1) solar panels add a level of complexity to a real estate transaction than would otherwise be there and 2) they negatively impact the ability to inspect, repair, and/or replace a composition roof.
Listen in as I share a real scenario and why a seller would have been better off without solar panels - at least as far as my clients were concerned.
If you have any questions about today’s topic, please reach out to me via phone or email. I’d love to help in any way I can!