Solar Panels – Free Energy?
December 30, 2009 by Gary Harmon · 3 Comments
Escondido home solar panels.
Being able to install solar panels on your Escondido home just got a little easier to finance. The County of San Diego just approved a program that lets homeowners in the Escondido real estate area repay the cost of their solar panel installation over 20 years. These payments would be made as an addition to their Escondido real estate annual property taxes. Supervisor Dianne Jacob said, “This is a big deal for San Diego County.” Supervisor Ron Roberts said the long-term goal is to reduce energy demand as much as possible. Participation by Escondido home owners is strictly voluntary, but is it a good deal for the Escondido home owner. Is it a good deal for the taxpayers?
So far San Diego North County home owners haven’t rushed out to start buying solar panels, so I decided to check into why? I soon discovered that there is a huge upfront cost of adding solar panels to your Escondido house. In fact the cost ranges from $20,000 to $60,000. But do they pay for themselves? Of course, I went to Google to get my answers. I found a website, http://estimator.find-solar.org that will allow you to calculate the savings on your own Escondido property. Your start by plugging in your monthly average SDG&E bill. I used $200 a month. Based on just that data, the solar estimator quickly gave me some calculations for my home. They were based on saving me 1/2 of my electrical utility bills. That means they would be saving me $100 per month. The initial cost of my custom solar system was estimated at $$40,410. SDG&E would provide me a $4,445 credit. The Federal government would give a 30% credit (out of your tax dollars) to me for installing solar. With these credits I would still have an out of pocket, up front cost of $25,175. Wow! That would save me $100 a month or $1200 a year assuming no maintenance cost. Bottom line, it would take over 20 years just to get my money back on installing solar panels. With maintenance, etc. it would take considerably longer. Bottomline, solar panels are certainly not free energy for the tax payers paying for them and they certainly are not free for the Escondido home owner. Will they help you sell your Escondido real estate for more money or faster? I don’t think so. For more information contact Gary Harmon, your top Escondido Realtor.
Gary Harmon moved to San Diego North County in 1989 and has been selling Carlsbad, Encinitas, Oceanside, San Marcos, Vista and Escondido real estate ever since. Gary wants to be your North County Realtor. You can contact Gary Harmon at 760-745-1220 or email at gary@garyharmon.com. Gary excels in good communications by getting back to you immediately. Give him a test!
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[...] Tax credits for making energy efficient Escondido home improvements is now 30% of the cost of the improvements. The maximum amount you can receive is $1,500. So for example, if you added qualified improvements to your Escondido house of $4,000 the credit you would receive a tax refund of $1,500 when you file your tax returns. Eligible Escondido home improvements include energy efficient exterior windows and doors,furnaces, heat pumps,insulation, central air conditioners and water heaters. Generally, your Escondido home improvement contractor and/or the manufacturer selling the improvements issues a certification that clarifies whether the improvements meet the necessary standards for energy efficiency. Places like the Escondido Home Depot can also help you know what qualifies. Most newer models of modern windows, furnaces, and air conditioners meet these requirements. If you’ve been of doing any of the improvements that qualify, this spring might be a good time to upgrade your Escondido property. Whatch for the great springs sales, get a good price and then a tax break. There is also a substantial credit for adding solar panels to you Escondido house. Before you do so read my post “Solar Panels – Free Energy?” [...]
[...] Buyers with higher incomes tended to place less importance on environmentally friendly features. Solar panels are also a way some North County home owners are trying to save money. See Solar panels – free energy? [...]