The Department of Energy’s SunShot Initiative has been promoting the adoption of residential solar power, and as of May 2016, there are more than more than 1 million solar installations generating electricity in the United States.
Will solar add value to your home? Contact the appraisers at http://www.scappraisals.com for your home value questions.
On the DOE blog, Odette Mucha, Technology Manager for the SunShot Initiative, debunked the top five myths about residential solar power that may be keeping homeowners from moving forward.
1. SOLAR PANELS ARE TOO EXPENSIVE
- In 42 of America’s 50 largest cities, financing a residential solar energy system actually costs less than purchasing electricity from a customer’s local utility. Studies show the cost of going solar has dropped every year since 2009. If you’d like to purchase your solar energy system, you don’t have to buy it in cash — there are a number of different financing options. Fannie Mae’s new HomeStyle® Energy mortgage is a mortgage option that gives borrowers the ability to complete clean energy upgrades up to 15 percent of the current appraised property value of the home. If you don’t want to take out a loan, third-party owned systems allow you to host solar energy systems that are owned by solar companies, then purchase back the electricity generated on your rooftop, while allowing you to lock in your electricity rate for years.
2. YOU CAN’T SAVE MONEY GOING SOLAR
- Solar brings great potential to save money on your monthly utility bill. The amount you save depends upon how much electricity you consume, the size of your solar energy system, and how much power it is able to generate. The monthly amount owed on a solar loan is typically less than an average utility bill, and leased systems allow you to purchase the electricity back from a solar company at a discounted rate, which is often less than utilities charge customers. With utility bills trending upward, solar is likely to remain a good money-saving option for years to come.
read more at: http://www.proudgreenhome.com/articles/busted-5-common-myths-about-residential-solar/