California Real Estate: Solar Energy

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While I trying to research a hot topic in California Real Estate, I came cross and found solar energy penal interesting effect in real estate market. The country’s major professional association of real estate appraisers stated that solar photovoltaic systems classically increase market value and almost always reduction marketing time of single-family homes in the San Diego metropolitan area. A group of California economists observed at that question in a recent study and found that on average, homeowners in California who connect photovoltaic solar panels to power their homes can recover nearly all the investment costs if they move–and that’s on top of the annual energy savings. A PV system is a solar electric system that is designed to convert sunlight into electricity. Solar is actually expensive to install the average total system cost is $21,967, but the effective price to homeowners with subsidies including the federal tax credit up to 30%. Thus, homeowners seem to recover approximately 97% of their investment costs – in addition to the savings associated with reduced energy bills. Initial studies focused to recognize solar markets in California are showing increases in value in some communities that exceed 4%. In California at least, home buyers are enthusiastic to pay a premium for solar. In fact, green home developments are such a selling point for homes now; most real estate professional may start conversations with clients about solar energy home value. The average U.S. homeowner uses about $1200 on grid power per year , so when a real estate professional references a home has an electrical bill of $2.20 per month, that becomes a selling point on par with outdoor ... ... middle of paper ... ...erhaps get a portion of money back, we can’t say exactly how much. To find out how much your rebate is please check the CSI homepage for detail. The state used to pay a tax credit, too, but no longer available for homeowner. Solar panels will always growth the value of your home. The rule of thumb is to symbol your annual power bill savings and multiply by 20 fairly an orderly sum. In San Diego, as in the whole state of California, the value added by your solar installation is officially omitted from any assessment for property tax determinations, so if you invest in panels you’ll get the full benefit when you sell the house. But it’s a disgrace that the panels and gear aren’t sales tax exempt. “Battering down solar cells on the roofs of Wal-Marts in California. I think that will be some of the highest-return investments that anyone ever makes”. (Jeremy Grantham)

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