Are you thinking of installing solar panels on your roof to cut your energy bill? In 2019 alone, there were 2 million solar panel installations in the U.S., according to PV Magazine.
But is it a good idea to install solar panels on YOUR home in Metro Detroit?
At Mitten Made Properties, we’ve worked in real estate for quite some time across Southeast Michigan, and we’ve seen a lot of trends come and go. Solar panels — and the use of renewable energy in general to power homes — is a trend that’s most likely only going to increase in popularity as the technology becomes more efficient and more affordable.
Still, there are some things to consider before you line your roof with solar panels.
Solar panels aren’t cheap… and neither is the installation. The average homeowner can expect to spend about $15,000 to $20,000 to get solar panels installed.
Consider Your Electric Bill
Solar panels definitely don’t pay for themselves overnight. First, calculate how much you currently spend on electricity each year, and then estimate how many years it would take to recoup the cost of installing solar panels. How long you plan to live in your house? Although they may raise the value of your home when you go to sell, solar panels are definitely a long-term investment, not a short-term one.
Your location, the angle of your roof, and even your roof material will all have an impact on the efficiency of your solar panels. Go to solarreviews.com/solar-calculator to enter your address and get a better idea of how many solar panels you need and how much you stand to save on your electric bill over 25 years.
Hope that helps!
And if you or someone you know wants to sell a Michigan home fast for cash, give Mitten Made Properties a call at (248) 883-3340. We can make you a fair cash offer, close in as little as two weeks, and pay all closing costs!