![]() In Maryland, the average single family home value is nearly $370,000. Why does this matter? Well because according to Zillow, homes with solar panels sell for 4.1% higher than homes without solar, and The National Renewable Energy Laboratory reports that every $1 saved using solar energy increases home values by $20. Zillow, one of the largest real estate websites in the world is now openly presenting a “Sun Number” which rates a home’s potential for solar on a scale of 1-100. ( You can find more information about your specific region here).Īfter incentives we can now look at long-term returns. Additionally, many state and local regions offer rebates, waived fees, and property tax exemptions. A federal tax credit allows taxpayers to claim 26% of system and installation costs for systems installed before December 31, 2022. Solar is better for the environment. Is Solar a good investment? If you start to think longer term though you realize that even with the basic rate increases that in just a single decade you have paid nearly $19,000 to your electric company and you have nothing to show for it. (Your bill may differ depending on factors like square footage of home, number of occupants, etc.). If you look up the average electric bill in the Mid Atlantic region you will find that it is roughly $120 per month. You don’t need to take our word for it though. ![]() There are several solid sources of information that lend us to believe that the answer is yes, solar is a good investment. You’re probably here because you’re curious about the long-term returns on solar. One of the most often asked questions by customers when they think about making a purchase is the same: How much is this going to cost?
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