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Is Investing in Solar Worth it, When You’re Not in Your Forever Home?

By September 9, 2019Solar

Solar power has seen an intense evolution in a short span of time. It has existed for decades with restricted use, but solar is now in the hands of everyone from campers to homeowners to commercial users to NFL stadiums. Solar is well-known as a long-term investment and it’s true that your savings will build over the years. However, could solar still be worth it if you’re already planning a move in less than a few years?

The immediate answer to this critical question is yes. It’s always worth it to make the shift to solar energy. Not only do certain cost savings start instantly, but it may be more feasible to sell your home with this crucial upgrade. Take a look at our impression of installing and solar panel maintenance as a short-term solution to financial and energy needs.

Hint: you can gain quite a lot from a solar installation than mere energy efficiency.

Short-Term Benefits of Going Solar

The long-term incentives of going solar are obvious; you can save more than $20,000 in energy expenses over the course of some 20 years. Moving soon means you won’t get an opportunity to capitalise on these decades-long projected savings. However, that doesn’t mean it can’t benefit you in the short term. Installing and solar panel servicing on your temporary property can still lead to:

  • A noteworthy jump in the price of your property. Even if you move in less than a year, you’re still likely to recover the costs of installing the panels (perhaps a little more). A new owner who identifies the potential savings of going solar will pay a premium to purchase a property that provides them life minus an electrical bill and no trouble of handling the installation themselves.
  • Tax incentives. You can subtract up to 30% of the expenses of solar installation from your federal tax returns, without a dollar amount cap. As long as you’re still a resident of the said property when you file next year’s tax returns, you’ll benefit from the tax savings irrespective of how long you stay in the home after that.
  • Immediate energy savings. You won’t observe the wholesome ROI of solar savings if you move soon after installing a solar panel, but you will remove most energy costs for your stay in the current home. That’s still worth a lot. If you can sell some of your solar power back to the grid, you’ll observe even more immediate advantages.

Marketing Your Home with Solar Panels

The great news is that there is plenty of science and real cost savings to back up the benefits of shifting from grid electricity to PV panels. You can convert prospective buyers into champions of the solar movement, so don’t be afraid to get solar panels just for the reason that you plan to sell your property in a few years.

The precise highlights may be influenced by where your property is. Remember to personalize your marketing plan to the environment where you own the property. In more progressive areas, the focus on environmental impact may strike a chord, while other communities will prefer a higher benefit in being independent of city electricity grids. No matter where you live, getting rid of a utility bill is a pretty tempting benefit.

Russell White

Author Russell White

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