Solar Panel Incentives
Solar Energry Costs, Home Value and Tax Incentives?
I recently bought a new home and am interested in installing solar panels. I looked into windmills but the HOA in my neighborhood wont allow it. I was wanting to know what can I expect to spend on materials and installation of solar panels and system to power a 2000/sqft house in an area that gets an average of 8 hours of good sunlight per day. I also wanted to know what this would do to the value of my home. This house is not my dream home and will be looking to upgrade within the next 5 years. I wanted to know if solar energy will raise the value enough to offset the cost now.(excluding present market conditions). Also does anyone know what the tax incentives are, either natoinally, state or locally for Texas or other states that I could use as a comparison. Thanks.
I answered a similar question today see if you can find it, its much more detailed answer.
In brief you don't have a chance to break even with cost equal to new value. Certainly not in 5yrs, or maybe never. I see you live in Texas think about putting in a emergency generator system with automatic transfer switch, About 12k if you shop carefully and do some of the work your self. Added value to your home 20k to 30k. Value will continue to grow as time goes buy because generator systems keep going up in price and electrical codes keep getting stricter. Use natural, or propane, or LP gas as a power source. Its non corrosive, no fouling, and doesn't age and varnish up the carburetor like gas or diesel.
Good luck
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