The Positive Impacts Of Solar Energy In Real Estate

Solar power is renewable, sustainable, and bountiful in Florida. If you are planning a real estate project in Florida, it might be important to consider including solar systems in the homes. In the US, there are millions of homes using solar power in one way or another. The benefits of using solar power, especially in a region such as Florida are numerous. Here is a list of some of them:

Increase the Value of the Home

Various studies have found that solar power helps to boost the value of homes by an average of 10%. Not only do they increase the value of a home but they also make it easier to sell a home. A major reason why buyers seem to prefer homes with solar systems is that such systems eventually pay for themselves.

Solar systems pay for themselves by reducing or eliminating the power bill. Over the lifetime of a solar system, a homeowner can reasonably expect the system to pay itself back up to three times the initial cost. Some homeowners might feel that they will not live in a home long enough to see its pay for itself.

However, that argument is unimportant because a home’s value will rise once you install a solar system. As a result, the home will sell for much more and it will sell faster. It ensures that any initial cost invested in the system can be recovered upon the sale of the property.

The Home Value Increase is Not Taxed

In Florida, there are tax incentives meant to drive up the uptake of solar power. One of the incentives is the property tax exemption. The exemption ensures that once a solar system is installed in the home, the benefit of the system will not be included in the valuation for purposes of taxation.

The exemption means that you will get more for the sale of the home without having to pay more taxes. In Florida, the exemption is 100% for all residential solar systems. Depending on your locality, the municipal authorities might also offer you further tax exemptions.

Picking the Right Financing Option to receive all the Benefits

In Florida, you can opt to own the solar system or lease it. However, leasing a solar system comes with some downsides. For instance, a leased system is not considered as property since ownership is by a third party. As a result, lenders such as banks, and the FHA will not include a leased system is the property assessment. Besides that, the lease payments are added to the debt-to-income ratio.

Additionally, the lessor solar company has to provide proof of insurance to cover any damage to the mortgaged property. Depending on the specific location, a leased solar system sometimes leads to higher property taxes. In general, a leased solar system leads to more paperwork and additional costs compared to a solar system that is owned by the property owner.

It is good for the Environment

Global warming is an issue that affects everyone, no matter where you live. By using solar power, you are helping to reduce your carbon footprint on the earth. While a single person might not seem to make a difference, millions of people using solar power do have a major impact on greenhouse gas emissions.

Summary

 Using solar power is good for the environment and good for your property. There is no reason why you should not use solar power, especially since there is no downside.

Eric Maina / July 2019

Content Writer / Allstar Solar Partners

Solar Energy -A World Wide Movement in a Race to Clean Renewable Energy

Globally, the use of clean, renewable energy is seen as an important step towards sustainable development. As the concerns about climate change and the impact it is having grows, many nations are increasingly making investments in renewable energy technologies.

Global Adaptation to Climate Change

In many areas of the developing world, the electricity supply is not constant. Power outages that last up to 8 hours are common. It is especially so in rural areas, which are not properly connected to national grids. However, the middle class in several developing regions of the world is expanding. At the same time, their power consumption is growing.

However, if the growing middle class in these regions all adopted western habits when it comes to HVAC systems, it will have a major impact on the environment and the climate. Instead of building more coal plants, many experts propose a new paradigm that is focused on decentralized energy production.

As part of the climate change adaptation, various social and institutional changes will need to be implemented. Additionally, various funding incentives for the installation of solar systems and other green energy systems are required. The change towards 100% renewable energy is possible and some nations such as Denmark and Germany have made huge investments towards achieving this goal.

Impact of Using Clean Energy

There are numerous benefits of using clean energy. One of the most obvious ones is that it reduces the rate of global warming. Global warming has a major impact on the planet’s climate, which includes more severe droughts, rising sea levels, and the extinction of some species.

In the US, about 29 percent of all greenhouse gas emissions come from electricity production. The reason for this is that the US gets a lot of its power from fossil fuels such as natural gas and coal plants. By increasing clean energy production, the US could reduce its contribution to greenhouse gas emissions. Currently, the US accounts for around 14% of all greenhouse gas emissions in the world.

Financial Benefits

Numerous financial benefits come from increased clean energy capacity. They include:

  • Creating Jobs

Globally, the clean energy sector employs around 10 million people. The jobs created by the sector are in different fields such as installation, marketing, manufacturing, and many others.

  • Reducing the Power Bill

Any homeowner or business that is seeking to cut down its energy costs should turn to clean energy sources such as solar power. Theoretically, you can reduce your energy bill to zero if you have a properly installed green energy such as solar panels or wind turbines.

  • Energy Independence

Using renewable energy sources is a great way for anyone to achieve energy independence. As a result, its economic fortunes are not tied to fluctuating prices of fossil fuels on the global marketplace due to geopolitical factors.

Summary

While investing in research is important for the future of renewable energy, it is also important for countries as well as individuals to invest in the deployment of existing green energy technologies and use of renewable solar energy adopted by the majority of individuals. The clean energy sector has come a long way but there is still a lot that can be done. Today, most of the world’s energy still comes from fossil fuels. However, as awareness of the global impact of greenhouse gas emissions grows, more countries around the world are implementing policies that support green energy sources.

Eric Maina / Dec 2019

Content Writer / Allstar Solar Partners

If Solar Energy is So Good Why Aren’t More People Using it?

Solar power offers numerous benefits for any homeowner. However, despite the numerous benefits that people stand to gain, the uptake of solar power has not reached its full potential. Various reasons are often given for why someone has not installed a solar array, especially when they live in a state with abundant sunshine like Florida. Here are some of the top reasons why more people are not using solar power.

There is a Myth that Installing Solar Systems is Too Costly

One study found that 97% of Americans overestimate the cost of installing a solar array. In the past, the cost of installing solar panels was high. However, that has since changed. For instance, since 2008, the price of solar systems has dropped by an average of 80%. Besides that, homeowners who install a solar system, enjoy federal tax credits, which are set at 26% in 2020.

At the state level, Florida offers several financial incentives for those who wish to install solar panels in their homes. One of those incentives is net metering. In some cases, you can offset your electricity bill by 100% over the year via net metering.

The issue of cost has also been taken care of through easy, no upfront cost financing. It allows homeowners to finance their solar systems with zero down payments. Consequently, if you are short on cash, you can still afford to install a solar system.

Lack of Education on the Options People Have

A major reason why the uptake of solar power is still low in Florida despite the obvious potential benefits is the lack of awareness of the options available. When most people think of solar systems, they believe that a few panels would be enough for the entire home.

However, that is not true. Various products can be used to harness energy from the sun. For instance, some people opt for a small system for their pools or water heaters, in our experience the most valuable option is a large stable system for the entire home. The large system will be connected to the grid with an option of battery back-up. Solar power’s extensive flexibility is what makes it such an attractive power source.

Once you see the benefits of solar power, you will better understand why a large solar system for the entire home will offer the best value.

A Lack of Understanding of all the Benefits

Unfortunately, there is a lack of understanding of the benefits of solar power. For instance, many people may not be aware that installing a residential solar system could help to boost the value of your home by 10% on average. Additionally, many people are not aware of all the cost-saving benefits they stand to make over the lifetime of the system.

The Belief that Installing Solar Panels is a Complex Process

There is a lingering belief that installing solar panels is a complex process. However, that is not the case. Once you decide to install solar panels, most solar installation firms will offer a free consultation. Besides that, the solar company will handle the permits, inspections, and other paperwork needed for you to install your solar panels. In short, the process is not complex if you use the right solar installation firm.

 

Summary

We believe the major reason why many people have not installed solar systems is the lack of information. Everyone who believes in solar power should do their best to spread awareness of solar power in their local community.

How COVID19 Has Impacted The Solar Energy Industry And How We Have Transitioned To Online Presentations And Proposals?

Like all other businesses in Central Florida, the COVID19 outbreak has had an impact on the solar energy industry. However, not all is bad during this outbreak. Here are some of the ways the outbreak has changed business for us:

Delays in New Installation

Since the COVID19 outbreak, there have been some delays. These are mainly delays due to some slowdown in the issuance of construction permits by the city. As a result, some companies in the solar installation business have had to delay the installation of new systems by a few weeks. However, we have seen an increase in the number of people who want more information about a residential solar system.

The reason for this is that some households have seen their incomes reduce. Consequently, people who wish to save on their energy bills have turned to solar. The option to install solar systems without any upfront costs has proven quite attractive. Once the lockdown measures are lifted, we think we will immediately see an increase in the volume of installations of home solar systems our customers have requested information on

Great Time to Increase Global Awareness of Environment Pollution

As the sky has become clearer, some places around the world have reported that mountain ranges, which were impossible to be seen before can now be seen. Various images have emerged online with before and after comparisons. The images have had a huge impact on people and they have begun to realize just how much of a negative impact human activities such as cars and factories have on the earth.

We believe that after the lockdown, more people will be willing to spread the solar message and take actions that are good for the environment. Many people around the world have been born in cities where they have not had a chance to see and experience clean, fresh air, and clear skies. Once the outbreak is under control, it is unlikely they will be willing to go back to the way life was in regards to using dirty fossil fuels. Knowing there are better, cleaner alternatives for the world energy needs.

Reduced Sales Pressure

Part of the changes we have had to make in doing presentations online via video has led to reduced sales pressure on the customer’s side. Our representatives work from home and communicate with our clients from a relaxed home setting. Our clients are also in a relax setting in their homes or office, which makes our communications with them more relaxed. Besides that, knowing that we are not endangering anyone’s life by communicating via the internet has been quite a good feeling while at the same time rewarding for both clients and solar companies .

We are doing everything we can to keep our customers in Florida safe. Our team adheres to all federal guidelines to ensure that we are not contributing to the spread of the virus. We, like everyone else, understand that following federal guidelines is the only way life will get back to normal soon.

Eric Maina / April 2019

Content Writer / Allstar Solar Partners

Does Solar Energy Work or Make Sense in 2020?

If you live in the Sunshine State, solar power makes a lot of sense. Sunshine is abundant all year. Besides that, Florida often experiences periodic disruptions to the power grid caused by hurricanes and afternoon thunderstorms. Additionally, the state experiences brownouts and blackouts in the summer that can last for hours at a time. These are caused by a strain on the power grid because of the hot weather as people turn up the dial on their HVAC equipment. As a result, installing a solar power system makes a lot of sense. Besides these reasons, here are other reasons you should install a solar power array.

Environmental Benefits of Solar Power

According to data from the EPA, electricity generation is the largest contributor of greenhouse gas emissions in the US. By installing a solar array, you reduce the dependence of your home on fossil fuels. As a result, you reduce your home’s role in the release of greenhouse gases that have disastrous effects on the earth’s climate.

Federal and State Incentives

In Florida, residents get to enjoy several state and federal incentives. The incentives are:

  • Florida Net Metering

Net metering is a great incentive for residents that install solar panels. Under the program, Floridians who have a solar array installed and are connected to the grid receive credits on their power bill. The credits are for surplus power that is produced by their solar panels. It allows you to store your excess power in the grid. In some cases, you can cover the full cost of your energy needs throughout the year. Without net metering, homeowners have to purchase solar batteries to store their excess power.

  • Property Tax Exemption

In Florida, homeowners receive a property tax exemption if they install a solar system. Besides the property exemption, a solar array is estimated to increase the value of your home by up to 10% on average, which makes it a worthwhile long term investment.

  • Sales Tax Exemption

The state’s Solar and CHP Sales Tax Exemption means that you keep the extra 6% state sales tax that you would pay for the purchase of a solar system and the battery storage.

  • Federal Solar Tax Credit

The federal government offers a solar tax credit if you buy the residential solar system. The tax credit was 30% in 2019 and it dropped to 26% in 2016. It is set to drop to 22% in 2021 and it will be phased out in 2021. Consequently, this would be the best time to purchase your residential solar system.

The Cost of Solar Systems is Down

A decade ago, the cost of a residential solar system in the US cost around $80,000. However, it has dropped a great deal since then. Today, it costs around $19,039 for a 6kW System at an average cost of $3.17/Watt. After you claim the federal tax credit, the cost is just $14,089 for the 6kW system.

Financing Options with $0 Down payment

If you are worried about coming up with the funds to purchase a solar system, you will be glad to know that Florida offers financing via easy, no upfront cost financing. Via this program, a homeowner can get financing for their solar system with zero down payment. With financing rates starting as low as 2.99%, you will be able to see monthly saving from day one. Get informed and find out about your personal potential savings.

Summary

With all the benefits mentioned above, it is time you considered installing a residential solar system.

 

Benefits of Going Solar In a Newly Built Home

Many homes across Florida now have solar systems installed on the roofs. As more people realize the benefits of solar power, the number of solar systems will only go up. If you are planning to use solar panels in a new home, you could get numerous benefits that existing homes might not enjoy. Here are some of the benefits you receive when you install solar systems in newly built homes.

You Have the Option to Pick the Right Roof

With a new home, you will have the option to have a south-facing roof. It will ensure that your solar system in Central Florida, captures the most amount of light possible. When constructing a new home, you can also avoid obstructive elements on the roof such as tall trees and tall structures such as two-story homes, which could cast shadows on the panels.

A new house will also give you the chance to pick the material for the roof. Solar panels can be installed on almost any roof type. However, some roof materials are more difficult to work with. These materials include cedar shingles and slate tiles. They usually lead to more equipment for installation, which leads to more costs. However, you can avoid all those costs by picking a material that is easy to work with.

You Can Opt For Energy Efficient Appliances

Another benefit of installing solar into a new home is that you can opt to use more energy-efficient appliances. For instance, you can opt to use an electric furnace instead of a gas furnace. While heating a home with natural gas is cheaper compared to using electricity, using an electric furnace will allow you to eliminate all your energy bills over time, using solar energy. From the start, you will be making huge savings on your home, which could help to free up more money to spend on your family.

Favorable Warranty Terms

Most solar system installations come with good warranty terms. At Allstar Solar Partners, we offer our clients a 25-year warranty for components. Additionally, we offer a 10-year warranty for the installation. The solar equipment we install has a life expectancy of 50 years. However, most solar systems will last even longer when installed by a professional crew and with some minimal maintenance.

The warranty terms ensure that if anything ever happens, you will only incur a small cost to have the system restored to its original performance. The brands we work with are quite hardy and they have a 50-year working life at a minimum. In essence, the solar system will serve you for the rest of your life, with minimal maintenance costs.

Summary

With all the benefits mentioned above, you should consider installing a solar system in your Florida home. Due to various government incentives and energy savings, a solar system will drive up the value of your new home. If you ever have a desire to sell the home, it will be much easier to find a buyer for the home compared to an exact home in the same neighborhood.

Eric Maina / May 2019

Content Writer / Allstar Solar Partners