Interest in energy-efficient systems has been on the rise among buyers for several years. Solar energy users have grown from thirty thousand to almost a million over the last ten years or so. So why the increase in popularity? And what types of saving are available? The benefits provided to the environment and lower costs for electricity are among the top reasons for this increase. Still, some have concerns about the affect solar panels have on homeowners insurance. Get the scoop on solar powered savings from experienced Westmont IL real estate agent Beata Kolpek.
Savings on Electrical Bills
There is no question that solar energy can save you on electrical bills. The question is, “How much?” If you live in a heavily shaded area the savings will not be as robust. Helping buyers as a Westmont IL Realtor includes finding ways to save money. To determine the amount of savings to expect from solar energy, start by finding out what you currently spend on energy. In general, Americans spend about one thousand four hundred dollars a year. Electricity rates increase about two percent each year. Next, estimate that the solar panels can cover up to eighty-four percent of your energy needs. Account for the cost of the solar panels themselves as well.
The cost of solar panels can range depending on the company, location, and quality. However, you can expect to pay anywhere from $10,000 to $15,000. The savings to expect requires a long-term vision given this initial payment for the solar panels. However, serving as a Westmont IL real estate agent has shown that the reward of helping the environment is worth it for many buyers. For help buying your next home contact Westmont IL real estate agent Beata Kolpek.
The solar panels may not mean an increase in your homeowner’s insurance. Standard insurance includes dwelling coverage, which includes the structure of the home and the roof as well. The solar panels add an additional layer of protection and are considered part of the roof. If your panels are not mounted on your roof, you might be able get coverage under “other structures” coverage. This coverage is typically used for other buildings on the property like a garage or shed. However, solar panels might fit within this category. As a real estate agent in Westmont IL, researching these dynamics is a part of offering quality service.
You might also be able to get a discount on your insurance provider if your home meets the Leadership in Energy and Environmental Design certification. Having a reputation for environmental responsibility can mean savings of premiums over time as well. For other help with the real estate process contact Westmont IL real estate agent Beata Kolpek today!