Maybe it’s a sign of the times, but it seems these days that alternative energy is on everyone’s mind when making decisions regarding utility costs and household sustainability. Solar energy is now one of the most visible—and accessible—of these alternative resources and is an important option to consider when you’re purchasing a custom home.
Is Solar Power Right for You?
Residential electricity rates have increased by an average of 25 percent over the past 6 years, which means shifting to solar can save you exponentially. You don’t have to completely power your home on solar to reap the benefits, either; even a small solar panel can dramatically slash your energy costs over time.
According to The National Appraisers Institute—a Chicago-based real estate think tank, the value of your home increases at a rate 20 times the annual savings in electricity afforded by solar panels.
As of now, solar hot water heating and solar panel installations placed in service by December 31, 2016 are eligible for a 30 percent federal tax credit, whether it’s in an existing home or a new construction project.
Drawbacks to Solar Power
Naturally, solar panels cost more when you’re building. The payoff comes after they’re installed – and it comes in the form of tax credits and energy costs. It could take between 15 and 20 years to recoup your investment.
Energy Storage: What Happens if You Store Too Much?
If you outfit your new custom home with solar panels and you store more energy than you need, it can pour right into the electric grid… and you could be paid for it if you’re part of the Green Power Providers program through the Tennessee Valley Authority.
Let’s Talk About Your Next Home
When you’re ready to talk about your options in a new, custom home through Carbine & Associates, we’d love to sit down with you.
Call us at 615-661-9995 or get in touch with us online. We can help you build your dream home from the ground up; if you need a little inspiration, feel free to explore our gallery of recent projects.