Economics Of Solar
The best time to install solar is when you are building a new home and here is why. 95% of people are not able to outright pay for their solar installation. Some sort of financing or loan payment is going to be necessary in most cases. Now, this is convenient, especially if you are building them a brand new house and can also add the solar installation onto their mortgage at better interest rates compared to an unsecured loan or a line of credit.
Typical payback periods are going to run between 8-12 years and most people building a new home are going to see the return as it is their forever home. If it is a rental property, solar is an even better idea as your return comes back twice as fast. If the owner has the utilities built into the rental agreement they have now removed that power bill from the equation and are still able to receive payment for the power they are producing for their tenant.
If you would like to read more about how solar can increase the value of your home, we have a great blog post breaking down the dollars and cents on it! Click here for more details!