Solar Panels – Read this BEFORE you buy! – Bringing a little Clarity to Homeownership

Introduction: This article is part of a 10 part series to shed some light on what your solar salesperson is NOT telling you. It is my hope this will help consumers to better understand the “small print” items when deciding if installing Solar panels is the right decision for you and your family.

Solar Panels have recently become more affordable and easier to obtain for homeowners. It is hard not to get sucked in by commercials with uplifting oldies blaring and people dancing and singing the praises of a Solar Life with the spokesperson declaring it is now an affordable option for homeowners. As a REALTOR® I have been asked by many past and present clients if they should do this? This series will cover the following issues of the solar home craze. You can also click topics below to jump to that particular topic.

Solar Panels – What’s the catch? (Pt 1)

Why this, Why now? Mostly for my past, present and future clients. I see this as a potential wide scale problem in the next 3-5 years and want to make sure people are thinking through all the ups and downs of this decision. This is not like adding a renovated kitchen, adding a bathroom or finishing a basement, all of which can increase sale price significantly. This is like a swimming pool; to some it is valuable, to others it has no value and to others it is actually a negative. So, you can’t expect to recoup 100% this investment especially in the short term.

Typically, I am asked this question by current homeowners who think it’s a great idea to add it. Here are some of the most popular reasons I hear.

• Save money
• Help the environment
• Become less dependent on utility companies
• Have one set fee that can’t go up as energy costs go up

Solar Panels have recently become more affordable and easier to obtain for homeowners. It is hard not to get sucked in by the commercials of uplifting oldies blaring, people dancing and singing the praises of a Solar Life with the spokesperson saying it is now an affordable option to homeowners. As a REALTOR® I have been asked by many past and present clients if they should do this?

What started out as a small blog I planned to post turned into a 10 page research paper on the ins and outs of Solar Panels. It all started April of 2020, the Pandemic had hit us and we were all told to stay home. This was a great time to take care of some home items we had put on the back burner. One of which was to research solar panels. We called Powerhome Solar who was saturating the St. Louis area with Facebook ads, Radio and TV. People dancing down the street singing “Let the Sunshine”, A God-like character on a stage announcing how HE was making solar power affordable for EVERYONE to the cheers of thousands in the auditorium watching him. The music alone was engaging, right?

Calling to set up the appointment was pretty easy, we were asked a few questions like do you hve a credit score over 620 and an income of a certain level (I forget what the threshold was) and of course an appointment could be made but all homeowners needed to be present. THAT is usually the first tip off. They want to ensure they can sign up while they are there. This is usually a BIG red flag, any reputable business doesn’t need you to sign immediately following the presentation. But ok I am a salesperson, so I felt pretty confident I could handle them when the hard sell came.

Also, they wanted info on my home size & location and for me to send a photo of my electric bill. So out they came, and they did an aerial view and a walk around of our house and yard and then they sent that information to someone who drew up the schematic while we chatted on our front porch. A little information on my home, I have a 2700 sq foot ranch home that has virtually zero tree coverage on an open flat 3-acre lot. Sun is PLENTIFUL here.

CLOSING

Hopefully you found this to be a helpful series, I would love to see your comments and hear about your experiences so others can benefit from your stories as well. Direct links to each topic in this series. Also, I would love for you to subscribe to be notified when new posts are available or follow. Look on the top right to do that.

SOLAR PANELS – What you need to know BEFORE you buy – What’s the catch?

SOLAR PANELS – Potential savings or smoke and mirrors

SOLAR PANELS – What’s the real cost?

SOLAR PANELS – Life expectancy and maintenance

SOLAR PANELS – How does this affect my homeowner’s insurance?

SOLAR PANELS – What sellers need to know?

SOLAR PANELS – What home buyers need to know?

SOLAR PANELS – Mortgage and appraisal pitfalls

SOLAR PANELS – Less expensive alternatives to solar panels.

SOLAR PANELS – Why I made the decision I made regarding Solar Panels.

Have you thought about selling your home?

What if I told you I could sell it for more than it is worth?