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Let it Shine: True Cost and Efficiency of Solar Power

If you’re looking to make an upgrade to your home, there are few that are as impactful as home solar panels. Let’s take a look at the true cost and efficiency of residential solar power generation and why this environmentally-conscious home upgrade is becoming very popular here in the Pacific Northwest.

Let it Shine: True Cost and Efficiency of Solar Power
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Today’s Solar Isn’t Yesterday’s Solar

If you haven’t read up on residential solar in a while, it’s a good idea to start with a clean slate as a lot has changed in the past few years. Older solar installations were large, clunky and inefficient, and homeowners paid a high premium for being an early adopter of the technology. Thankfully, rapid innovation has improved both the panels and the power delivery system while bringing down the price. While a full setup and installation may cost in the neighborhood of $25,000, it takes just a few years under Bellingham’s average sunshine to recoup that cost in energy savings and rebates. Modern solar panels are also durable and essentially maintenance free, and most come with a warranty of 25 years or longer.

Solar is an Investment, Not a Purchase

Modern residential solar panels are becoming one of the most popular home upgrades for a number of attractive reasons. Solar is an investment that tends to add immense value to a home. If and when you choose to sell your home, you will attract the attention of forward-thinking buyers who are thinking about sustainability. And, while you might not think of Bellingham or Everett as sunny areas, in truth we generate enough sunshine throughout the year that power-smart homeowners with an average solar setup can actually generate electricity to send back in to the power grid.

According to Puget Sound Energy, our summer sunshine is more than enough to make up for our gloomy winters, and as “net metering” credits for excess power generation roll over each month, a homeowner can end up paying nothing but the $7.49 base monthly charge with a large enough solar setup. Over a twenty or thirty-year span, the average residential solar installation can net its owner around $25,000 in profit – a return of 100% on the initial investment.

Scoop Up Tax Benefits and Cash Incentives

Don’t forget that there are numerous federal, state and local tax credits and other incentives to help offset the initial cost of a residential solar energy system. The federal income tax credit provides a credit for up to thirty percent of the total cost of the system, and the Renewable Energy Advantage Program pays solar energy users up to 54 cents per kilowatt-hour for panels and inverters made here in Washington State. These are just a few of the many incentives – your solar professionals of choice will be able to explain everything.

Are you looking to buy a solar-enabled home in Bellingham or elsewhere in Whatcom County? The real estate professionals here at Keller Williams Western Realty are happy to introduce you to properties that will perfectly suit your needs. Contact us today at 877-739-7070 or you can click here to send us an email.

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