Every home is, in fact, a solar home. All homes are bombarded
by sunlight every day. The difference is that the solar PV system
captures the sun’s energy and turns it into electricity. Instead of
creating a system to deflect the heat of the sun, solar roofs capture
the thermal energy and convert it into electricity.
Does Solar Improve my homes value?
The short answer appears to be yes. A recent study by Zillow, however, reported that homes with solar panels sold for an average of 4.1% more than similar homes without solar, but there was a wide range in the value-add in different markets. It’s important to determine the many factors that influence how much solar panels increase in value, and there are substantial differences depending on local markets.
Not only the amount of sun exposure, but also local incentives, policies, and cultural norms will play a part.
If prices are expensive in a given market, and homebuyers know they have ready-made cost-savings built into their purchase, they are likely to pay more.
Lease, PPA, or owned
How you acquire solar, will have different implications for resale valuation. Some appraisers, for example, consider leased solar panels personal property that will not increase the value of the home at all.
System output and age
Larger output systems that are newer are likely to be valued higher than smaller, older systems.
Financial incentives available to you?
All American homeowners are eligible for the federal solar tax credit but many states and municipalities have added rebates, low-interest loans, and other financial incentives for their own residents as well. The National Solar tax credit allows you to take 26% off your annual income tax the year of or following your solar installation. This Credit is slated to drop down to 22% for installations made after Jan 1, 2023. Fading away completely in 2024.
Of course, when your property values go up, that usually means that your property taxes increase as well. The good news is that many states offer exemptions, meaning that when you install a solar system, your property taxes do not go up, even if your property value rises. MICHIGAN is 100% exempted
Great if on a budget and want to reduce your fossil fuel consumption! Thinking of long term energy independence or moving in the next 10 years, owning your system may be your best option. Solar leasing contracts and terms vary greatly below are some of the most common.
The homeowner pays a monthly rent or lease payment in
exchange for the right to use all the power produced by the
Solar power purchase agreement (PPA)
The homeowner buys the power generated by the system at a set price per kWh.
Entire lease or PPA payments are paid upfront. No further payments are required for the duration of the lease or contract.
Concerns with Leasing
If the homeowner sells the home before the end of the lease/PPA term and opts not to purchase the system, the seller must make sure the buyer is credit-worthy and willing to assume the solar lease/PPA. The Leasing company gets most of the financial benefits—rebates, federal and state tax credits, incentives, and SRECs belong to the leasing company.
Stay Bright, Go With Solar Today!
I work with certified Solar Installers that install Tier 1 Solar PV systems. Michigan Solar and Roofing is a West Michigan Based company that provides expertise and clarity every step of the quote*, design and installation process.
When the wind makes the turbine blades turn, the rotor captures the resulting kinetic energy. The rotary motion drives the generator, which uses electromagnetism to produce electricity. An internal gearbox increases the rotational speed between the rotor and the generator. The current travels through electrical wires, which run from the turbine to the inverter, which converts the direct current into alternating current allowing for household use, battery storage, or selling back to the grid.
Many communities have restrictive codes or regulations concerning structures that might mar the aesthetic appeal of the community, cause a noise nuisance, or exceed a height limit. As concern for energy efficiency grows, communities may be more willing to make provisions in the regulations for renewable energy systems. A homeowner should research local regulations.
Some useful resources to learn more are provided below
Gauge your wind potential
Choose your products
Check out American Wind Energy Associations for products that meet Small Wind Turbine Performance and Safety Standards.
Check Your Local Ordinances
Many Municipalities have building height restrictions. Most also ask to verify with your neighborhood or local township office. Thankfully areas with the most wind potential are rural where there are fewer restrictions.
Residential is being phased out.
As commercially-sized wind turbines are phasing out smaller size residential units, their need in the marketplace is limited to off-grid homes or for those who wish to have 24/7 coverage. Recent research however suggests there is an increased interest in distributed Wind Systems