The Consequences of Solar Power – Good & Bad
As a Phoenix Realtor I am quick to point out the necessity of the contract between the equipment provider and the home owner. In Arizona the state has been good about precluding HOA’s from disallowing solar panels in their CC&R’s but what about the utility companies? There have been recent decisions whereby one of the major utility companies is penalizing home owners with solar power; as an effort to dissuade this plentiful energy source in Arizona. As a buyer or seller in Chandler or Gilbert you really have to know the direction of the law with regards to solar energy and the structure of the buy-back price of the electric company. Secondly if you are selling your home or buying a home with solar power you MUST review the agreement to ensure transfer-ability as well as other liabilities that can accrue to either the seller or the buyer. Unfortunately in many cases solar energy contracts can be so costly and risky, the marketability of the home can be negatively affected. Having been a Realtor in Chandler for over a decade I have seen several issues during the sale of a property that are often overlooked and end up costing buyers, thousands of dollars down the road. My advice is to thoroughly inspect the equipment and the agreement.
Investing In A Solar Powered Home
If you are looking at investment property in Phoenix, you should have an inspector thoroughly check the solar system; especially if you are to assume a contract. Secondly Solar Powered homes in Phoenix allow you to increase the rent by paying the including the utilities in the rent and keeping the cost savings for yourself. Or passing the savings along to the tenant and leasing the home faster.
Solar-powered homes are becoming more commonplace, and are an excellent step in the right ecological direction. That said, there are some aspects to consider if you’re thinking about investing in solar energy. Read on for some salient points about living by the sun; especially in Chandler and the Metro area where we have seen some power companies try to put solar energy out of business at your cost!
The Sun And The Economy In Arizona
As solar power has grown in popularity, the government has introduced incentives to help homeowners combat the once-high costs of purchasing and installing solar panels. And companies are springing up to rent you panels and cover the cost of installation. This means that your initial costs are smaller, but also that those third party companies reap the government incentives and may not always maintain strong relationships between you and your utility company. Speak with your CPA regarding tax credits and possible depreciation. Roofs are the primary locations for solar panels, particularly on homes. Ensure that your roof has enough strength for the added weight of the equipment, and enough space for the proper placement (away from the edges, for example). The equipment comes with a lifetime guarantee so if the roof it’s on is already old, consider updating it before installation (which is an extra but necessary cost). Having to remove and re-install the solar panels can be costly.
The Sun And Your Surroundings
A solar-powered home is all about location, location, location. Watch for tall and shady trees, or for high buildings that will shadow your panels and decrease or prevent their output. Look forward, too are there any plans for development in your neighborhood that would introduce such impediments in the future?
The Sun And Cloudy Days
The most obvious hiccup with solar power is that bane of a sunny existence: cloudy days. Location has influence here too: the climate of your area will determine how many panels you’ll need, where you’ll need to place them and how much energy you’ll be able to glean in each season. There are batteries you can purchase for collecting and storing solar energy but they’re still an expensive option. And solar power is still somewhat unattractive in the global economy because of how variable it is. Fossil fuels are more dependable, and therefore more marketable, than an energy source so tied to the weather although that looks to change if solar energy continues its rise in popularity with the masses.
All things considered, there is a deep and growing draw to solar-powered homes, but don’t enter into anything without looking at all sides of the equation. If you have questions, or want to know more about how solar energy works in your neighborhood, contact me. Looking for a Chinese Realtor in Phoenix? Call Christy!