FOUNDED BY PRESIDENT SEAN ANGELINI—A PIONEER IN THE SOLAR INDUSTRY—ORBIT ENERGY & POWER IS DRIVEN BY ITS RESPONSIBILITY AND COMMITMENT TO ENVIRONMENTAL SUSTAINABILITY. Its team has been involved in many high-profile projects, including the first-ever worldwide installs for such companies as DuPont Nemours, Johnson & Johnson and MERCK Pharmaceutical. Orbit Energy & Power offers a host of energy-conscious services, including residential and commercial solar and whole-home backup generators. This month, Angelini covers why solar homes are sound real estate investments.
1. Buying a solar energy system will likely increase your home’s value. A recent study found that solar panels are viewed as upgrades, just like a renovated kitchen or a finished basement, and homebuyers across the country have been willing to pay a premium of about $15,000 for a home with an average-sized solar array. Additionally, there is evidence that homes with solar panels sell faster than those without. (energy.gov)
2. Installing solar panels on your home can increase its value, but only if you own the system. If you install a solar panel system through a lease or PPA, you are essentially “renting” it from the third-party owner. Since you don’t own the system, it cannot be included in assessments of your home’s value. Most studies about solar and home values focus exclusively on owned solar energy systems.
3. Many of the same factors that drive your overall financial returns also drive increases in property values. Not surprisingly, the largest increases are in areas where electricity rates are high and strong solar incentive programs exist. New Jersey currently has one of the strongest solar markets in the country.
4. Recognizing that solar power systems add value, the real estate industry is working to create more sophisticated methods for accurately determining the market value of solar, as well as the premium home value of properties equipped with solar power systems in today’s real estate markets.
5. In addition to increasing your home’s value, you will save money through energy savings, tax credits and state rebates. Most homebuyers understand the value a solar energy system brings to their annual energy cost. Wondering if solar energy is right for your home? Contact Orbit Energy & Power for a free solar consultation at (800) 836-3987.
Orbit Energy & Power
Published (and copyrighted) in Suburban Family Magazine, Volume 10, Issue 2 (April 2019).
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