Thursday, July 9, 2009
Tuesday, July 7, 2009
Appreciation of Solar Power Systems for Homes
There is no exact science to the increased value of homes with existing solar power. And for accurate figures, you really should discuss it with your real estate broker. But to give you an idea of how much your solar power investments appreciate, look at the following scenario
Suppose you currently own a home with a simple supplemental solar water heater installed and it is in good operating condition. Costs vary by region but in my area a solar powered water heater would cost you in the neighborhood of $3,000. You could reasonably expect a monthly savings of around $50 or more. On a new mortgage, $50 per month after tax equates to about $14,000 more you can borrow. In regards to appreciation, a homeowner is likely to get 125% of the cost for new equipment or $3,750 based on the $3,000 investment.
Based on the numbers below, a simple payback analysis on your solar water heater would pay for itself in five (5) years. ($3,000 divided by $50 = 60 months or 5 years). After that the cost savings is pure profit.
Not a bad investment and if you do your homework, you can probably enhance these numbers by 10% or more easily.
Suppose you currently own a home with a simple supplemental solar water heater installed and it is in good operating condition. Costs vary by region but in my area a solar powered water heater would cost you in the neighborhood of $3,000. You could reasonably expect a monthly savings of around $50 or more. On a new mortgage, $50 per month after tax equates to about $14,000 more you can borrow. In regards to appreciation, a homeowner is likely to get 125% of the cost for new equipment or $3,750 based on the $3,000 investment.
Based on the numbers below, a simple payback analysis on your solar water heater would pay for itself in five (5) years. ($3,000 divided by $50 = 60 months or 5 years). After that the cost savings is pure profit.
Not a bad investment and if you do your homework, you can probably enhance these numbers by 10% or more easily.
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