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It is a personal choice.
Depends a lot on whether it is owned or leased.
Stevens Point, WI
I think any updated, particularly "green" system would always be a plus. However, your clients may not necessarily get dollar for dollar back on their investment.
Stevens Point, WI
It may be difficult to justify a solar system unless they are going to live in the property for many years. This is not usually going to be a good investment for retirees.
A federal government agency, quoted by the National Association of Realtors, has stated that photo-voltaic panels add a value of $15,000 to the value of new build and resale homes. (They do not state the generation capacity)
Be aware, the manner in which these panels are installed does have an influence on whether this value is realized.
I am unaware of ANY locations in Florida where excess electricity is sold to the power company and laws of the State of Florida prohibit selling this electricity to anyone else. (protected power company monopoly) For instance a shopping center owner can not install panels and sell electricity to business who lease.
My experience has been the VALUE is directly related to the demonstrated savings. Heating a pool could cost $200 a month for 4 months a demonstrated $800 annual savings. Add to that 60% of annual electric bill of $1,800. The total is a number very remote from the FED's $15,000 statement.
Here in FLORIDA, the value is in the eyes of the one who values it. The value MUST be demonstrable and the laws of the State of Florida make that very, very difficult.
It should be a good thing.
It would add to the value but perhaps not to the extent of the cost of the system
To answer your question: I concur with those here who say that solar panels will not hurt - and in fact, may help - enhance the value of a home.
I currently live in California, I have a photo-voltaic solar panel system on my home, and I am a native Floridian. The reason I mention this is twofold:
1) Back in the early aughts, the state of California was very aggressive with incentivising homeowners to install solar panels. There was a window of time when it made economic sense to invest in a solar system - but imho, that day is long gone.
2) Weather has a very large part to play in determining how much electricity your panels will produce. Typically, when the Solar Panel companies discuss installation benefits they will use 'best' or 'better case' scenarios. No surprise; but consider that not just rain, but cloudy weather can significantly impair productivity - which in turn, slows your return on investment.
Please advise your clients to very, very carefully consider their options before committing to anything. In an overwhelming number of cases, Floridians are better off passing on this idea.
ps. As your former clients review differenct ideas, it's really important to read the fine print. Often, the options homeowners choose can impact their ability to sell or refinance in the future.
When I lived in Florida solar didn't reduce any value to the homes, but also didn't increase the value either. It can be a selling point since it reduces energy usage, but it's also something that needs to be maintained (cleaned) and will eventually stop working - so like any other appliance will need to be replaced.
I would think that if you were in a Senior's community that solar power would be a desired benefit. It would save on utilities for someone with a fixed income.
IMHO installing Solar Panels for production of energy should be a personal choice and not based on financial considerations. Solar panels will depreciate with age just like shingles on the roof. In Florida I have seen Solar Systems Installed that will reduce monthly electric bills close to zero. Duke Energy in Florida does have a Net Metering Program, this program will buy excess energy from the home owner. However I am not sure how long net metering will continue in Florida with Duke Energy.
It would add a great value to me. As has been stated above, calculate how much they will sell back to the power company, and what the average previous bill were for the prior owner. That is only their yearly savings, and additional income.
Also, with the federal and state tax credits, a $30,000 installation with cost them much less.
I just read an article from an appraiser's website that they estimate that photo voltaic solar installations add about $15,000 to the value of a home, as a general average.
If done tastefully, I cannot imagine that it would detract from the value of their home, I think it would be a bonus. We have friends who are generating so much power from their solar installation that they are selling to the power company their extra power. This also heats their pool year round. For me it would be a big plus.