Any experience with Solar Panels?

[Nick Murray]

Hey everyone!

What is the general consensus on adding solar panels? While the immediate benefit is obvious (saving on power bills) has anyone done this and seen a marketable increase in the value of a property? 

The rebates are starting to decline and will be gone in the next few years (2021 or '22 I think), so I am curious to see if anyone has any experience. 

Thanks! 

[Andrew Smith]

@Nick Murray There are different studies that show a home value increase. The one we use is one by Zillow which shows an average 4.1% increase in home value.

https://www.zillow.com/research/solar-panels-house-sell-more-23798/

@Tyler Gibson Usually the solar finance is zero down and in most cases replaces the cost of the utility bill as a wash or in fact saves homeowners money. Whether that is the case depends on the usage, current cost per KWh for existing utility and the available roof space as well as its orientation. It doesn't make sense for every home for sure, but does for a large number of homes. One real benefit is that the cost of solar finance is fixed, whereas utility rates most certainly are not. 

In terms of numbers, solar absolutely is "there". Other aspects such as battery storage are not there yet, but are a lifestyle choice. I am in the solar industry for full disclosure.