Most appraisers and contractors in Los Angeles and Orange County will tell you, upgrading the kitchen and bathrooms of a home provide the greatest return on investment for a property. This has probably been the case over the last several decades, however we have begun to see a very rapid shift from buyers looking up to the exterior, rather than inward at the interior of properties here in Southern California.
A commercial, or residential solar roofing system is hands down the best return on your investment at this moment and time.
A solar PV system is an ideal retirement investment strategy and in many cases provides a better return on investment than traditional investments such as stocks and bonds. A newly installed solar system is also a terrific way to drive an immediate increase in property value. Here's why:
- Reduces your immediate electric bill - Harnessing the power of the sun can allow you to start saving money right away, the instant the system is turned on. You'll immediately begin to see the significant difference in your electric bill.
- Insulates you against rising energy costs - The cost of electricity rises an average of 7% per year nationwide. Solar power can help offset these rapidly accelerating costs by locking in current rates for years to come.
- Increases the value of your home - A solar panel, or roof integrated solar system reduces annual operating costs, which has been shown in several Appraisal Institute studies to increase the market value of your property to future buyers.
- Decreases the marketing time for single-family homes - Additional Appraisal Institute studies show that the time a house with solar is listed for sale, is dramatically reduced compared to those properties which do not have solar.
- Rebates and Tax Incentives - Currently, many utility companies and states across the US are offering rebate incentives for people to install solar on their rooftops. The additional 30% Federal Tax credit makes installing solar on your property that much more appealing and affordable.
- Helps the Environment - Though installing nice new cabinets, toilets and appliances bring curb appeal and a sense of "pride of ownership", there is few, if not any upgrades you could do to your home that would have more of an overall environmental impact on your home than installing solar. Solar is a clean, efficient and sustainable form of energy. By installing a solar system on your roof, you can significantly reduce your home's annual greenhouse gas pollution. Plus, using solar power helps to reduce the U.S. dependence on foreign oil!
Just some food for thought, but our prediction is that within the next 5-10 years, you will look around your community and find that those who have not taken the steps to go solar, are outliers. And by the time they get on board, the Tax incentives and rebates may be gone. Similar to what happened in Europe, the early adopters of solar roofing were the individuals who saw the greatest returns on their investment.
This post is written by Trevor Leeds - President of Chandler's Roofing
Posted on 01/31/2014 at 01:15:00 PM