I’m building or buying a new home, should I install a solar system?
Buying or building a home is the perfect time to install solar as the cost of the system can be rolled into the new mortgage. For example, a family buys a 6.6kW LG solar system for $9,000 (less in most States) and puts it on the mortgage at 3% interest. The annual cost of money is $270 and annual savings are typically around $1,700 (could be more than $2,000). The net saving is $1,430 every year and with a full 25 year warranty on LG Neon panels that's over $35,000 saving/income. Purchasing a quality solar system will cost a little more than a budget package but you are buying support, service, peace of mind, long system life, high performance and effectively locking in an extra 10-15 years of savings. Few investments give as high a financial return as solar or are as safe as relying on the sun shining.
Most new home builders have little understanding of solar, both in designing a roof to accommodate panels and in selecting a solar package that will last. Builders quote low quality bargain basement systems which are to be avoided. Solar only has value if it lasts a long time, if the owner has to pay to replace the system every 5-10 years the financial and environmental savings will be minimal or nothing.
Quality brand name solar systems will increase the value of a home or commercial property. If you are a landlord solar will make an empty property more attractive and justify a higher rent based on the lower running costs tenants will enjoy. There are not many items in your home that will pay for itself after a few years and make money for you year after year. And even when you decide to sell your home, you will reap the added desirability and resale value that solar provides. See real estate survey