Are solar panels right for your home?

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The Boston Globe recently published Sometimes solar panels are not a good fit for your home , exploring the benefits – and challenges – of solar panels.

The article included this comment:
Matt Dolan, a broker with Sagan Harborside Sotheby’s International Realty in Marblehead who has panels on his home, said some developers and homeowners got caught up chasing green building certifications and haven’t been able to recoup their investments.

“People got out too far over their skis with solar and thought anytime you made a green addition to a house that you’d instantly win, and it’s just not the case. A lot of people don’t actually care that much,’’ Dolan said. He pointed to a home that was renovated to LEED Platinum standards a decade ago, complete with solar and geothermal energy. “The reality is it’s a $2 million home that we’re marketing for $1.4 million, because no one is willing to pay an ultra premium just because it has the green credentials.’’

I wrote Solar panels: are they right for you? back in 2015 and followed up in 2016 with Solar roof tiles 2.0 – a major improvement. Alas, like a number of Elon Musk’s promises, solar roof tiles remain just that – a promise. In 2018 a CNBC investigation found only 12 houses with Tesla’s solar roof tiles and one of those cost the homeowner $100,000. Nice idea – shame about the price.

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
www.TeamHarborside.com
[email protected]

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

 

 

 

Solar tax credits extended for 5 years

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In my Solar panels: are they right for you? article in September I referred to the fact that the federal tax credit for solar panels was due to expire in 2016. Well, in the recent budget, solar tax credits were extended for 5 years. (more…)

Solar panels: are they right for you?

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Have you wondered about installing solar panels? Are solar panels right for you? Are you confused about the proclaimed benefits?

I am and so I found this Boston Globe article Are solar panels worth it? very helpful.

The main points I took away from the article were:
– the appearance of solar panels on the roof may not appeal to everybody or be appropriate on all styles of property, although some experts claim solar panels increase a property’s value
– the life span of solar panels is 20-30 years and the roof needs to be in good condition for the installation. It is not clear to me what happens to the panels when a roof ages or needs later replacement
– leased panels can complicate the sale of the property
– much of the projected financial benefit comes from tax credits, which are currently set to expire at the end of 2016, and assumptions about future electricity price increases. (more…)