Are you thinking about an addition or renovation to your Madison home that will add equity, reduce your monthly costs and has the potential to actually generate revenue? Look no further than a residential solar installation – one of the best ways to reduce your electricity spending and your impact on the environment. Let’s take a look at the true cost and efficiency of solar power, and how you can benefit by adding solar to your home here in Madison.
Forget What You Used to Think About Solar
If you’ve been turned off by the inefficiency or look of home solar in the past, you may want to clear the slate and reconsider. Modern residential solar is far more efficient than systems from even a few years ago, and panels are a lot less clunky and large than they were before. It’s possible to get systems that are cleanly designed and fit the contours of your roof perfectly. The next time you are out looking at homes, be sure to check the rooftops to see if you can find homes with solar and see how their installations look.
Solar is an Investment That Provides a Return
While there are many renovations that add little to no value to a home, solar isn’t one of them. A quality solar installation job will add an immense amount of equity to a house – equity that will be realized in an increased sale price when you decide to sell. Buyers know that they will save money on electricity by having a solar generation system and if you find a potential buyer that is interested in the environmental benefits, they will be willing to pay a premium as it saves them the work of installing the system after they purchase the home.
Another way that residential solar installations pay themselves off is through credits generated by sending excess power back into the public grid. As Wisconsin is a ‘net metering’ state, if you install more generation capacity than you need, Madison Gas & Electric will credit you at the rate that you would normally pay for electricity. If this amount exceeds a certain threshold, you will receive a check.
Look for Incentives and Tax Benefits to Offset Costs
Don’t forget that our state and federal governments have generous tax breaks and incentives to help cover the cost of going solar. MGE participates in the Focus on Energy program, which provides $1 for every annual kilowatt-hour produced by a solar generation system, up to a max of $50,000. Wisconsin also has a state property tax credit for any home value added by your solar installation, which can reduce your taxes significantly. Finally, the federal government offers input tax credits for solar panels as well. Do your research to ensure you’re maximizing every available credit and rebate – they exist for your benefit!
When you’re ready to discuss buying a solar-enabled or solar-ready home in Madison? We can help. Contact Nicole Charles & Associates at 608.622.SOLD or by email via our quick contact form and we’ll be happy to introduce you to homes in the Madison area that will suit your needs.