Solar Panels in Austin: Are they worth the money? I undertook my domestic solar plant odyssey in 2009, and I think so.
Many people focus on just one element of the economics of installing a solar array on their home – payback period. They use a simple model of energy costs, energy production and derive a payoff period.
The major thing that is ignored in this approach is the actual value of the system on your roof. This is an asset which raises the resale value of your home. In my case it raised the estimated value of my home by more than the cost of the system.
I used a simple formula from the Appraisal Journal, which I talk about in the article “Do solar panels increase the value of your home?”. Now I’m not an appraiser, but I am an EcoBr0ker®, and I understand what it means to market your home as a high performance home with a lower cost of living.
In my opinion, the a solar installation with federal tax incentives and Austin Energy rebates can certainly be considered favorably alongside with the standard HGTV advice to tackle “kitchens and bathrooms”.
Garreth Wilcock is an Austin EcoBroker® with Keller Williams Realty.
(512) 694 8873