Adding value to your home with solar panels?

Aside from saving money on your annual electricity bills or reducing your carbon footprint, one of the best aspects about a solar panel system is that it increases the value of your home.  According to the U.S. Department of Housing and Urban Development, for every $1 in utility bills you save each year, your property value increases by $20.  For example, save $500 a year, and you’ve just boosted home equity by $10,000!

Recently, however, news reports have indicated that home appraisers are not knowledgeable about impact of a solarized home when evaluating comparable properties.  Getting home value credit for your solar panel system may be difficult when you are looking to refinance.

One of the reasons is that there are not any consistent standards for home appraisers to use in order to evaluate the difference between homes with and without solar panels.

How to value a home with solar panels

Ken Chichester of the Appraisal Institute in Chicago commented:

“One of the challenges that appraisers face in ‘green’ valuation is the lack of available data and standards… I’m unaware of any appraisal standards regarding valuation of solar electric systems.”

The home appraisal industry should adopt consistent standards so that loan applicants and homeowners are provided full home value credit for a solar panel system.

For several years now, the federal Housing and Development Agency has recognized the significant added value that a home with solar power has over one without.  Home appraisers need to get on the same page and recognize that a home that uses less energy than a similar-sized counterpart is worth more to potential buyers.

Rows of solar panels will be installed on a residential rooftop in D.C.

Don’t think you can truly live off-grid on solar power?  Well, don’t tell that to Shelley Cohen and Mike Gala!  This week, the couple installed the largest residential solar panel array in the District of Columbia.

The 52-panel system will allow Cohen and Gala to offset 75-85% of their home’s electricity demand.  Installed by Astrum Solar (based in Maryland), the solar panel array is an 11.96 kilowatt (kW) system which will generate nearly 13,800 kilowatt-hours of solar electricity annually.

In case you were wondering how that translates to environmental benefits, consider that the couple is giving back the equivalent of planting 250 trees each year by relying on their solar panel system instead of grid-based electricity.

Cohen and Gala entered a partnership with the Washington D.C. government for their project.  Shelley Cohen urged other residents to consider doing so, as well:

“Our family is committed to living a green urban lifestyle and to reducing our carbon footprint.  Our project benefited from a partnership with the DC government, and we encourage others to take advantage of the incentives being offered by the District.”

Astrum Solar is based in the Northeast of the U.S.  Residents of Washington, D.C., Maryland, New Jersey, Virginia, Pennsylvania and Ohio have reduced their carbon footprint by installing solar panels on their rooftops.

Perhaps you’re inspired, too?

Solar panels to reduce Anheuser-Busch's energy demands in New Jersey

This week, something new is brewing at Anheuser-Busch.  With the installation of more than 3,000 PV solar panels on the rooftop of its Newark, New Jersey brewery, the company will start generating enough solar electricity to completely power 62 homes each year (more than 525,000 kilowatt hours).  The panels cover about 65,000 square feet, and are estimated to defray 5% of the brewery’s power demand.

Brewing beer takes a tremendous amount of electricity.  By installing solar panels on its New Jersey brewery, the company is making significant environmental strides.  Peter Kraemer, vice president of Supply, Anheuser-Busch, commented:

“This solar panel installation is just one more example of Anheuser-Busch’s continued commitment to improving our environmental performance through alternative energy sources at our facilities across the country.  When combined with the solar array at our Fairfield, Calif. brewery, we are now one of the largest users of solar power in the U.S. brewing industry.”

More than 3,000 solar panels on the rooftop of Anheuser-Busch's New Jersey brewery

The solar panel system at Anheuser-Busch was designed and installed by Orion Energy Systems, which will also operate and monitor the panels.  In addition, Anheuser-Busch is hosting a solar power plant at its Newark brewery with Public Service Electric and Gas Company.  This means that individuals or businesses can purchase renewable energy certificates to offset their own fossil fuel usage.

The solar panels at the Newark Anheuser-Busch brewery is but one element of the company’s overall green approach.  Peter Kraemer noted:

“Our dream is to be the ‘Best Beer Company in a Better World,’ which comes to life through our environmental efforts, promotion of responsible drinking and investments in our communities.  Whether it’s a new solar panel array or our employees’ passionate support of World Environment Day in June, we are committed to making a difference and improving the world around us.”

For additional information about Anheuser-Busch’s solar panels at its New Jersey brewery and its overall environmental commitment, check out the company’s Global Citizenship Report.

Kudos for solar panels

Did you know you can earn more than kudos for going solar?

Its true!  A family in Pennsylvania was the first in the nation to receive a personal carbon credit for reducing their fossil-fuel based energy to the point of saving 1 ton of CO2 emissions.

What does that mean, you may wonder?  Here’s how Wikipedia explains personal carbon trading:

Personal carbon trading refers to proposed emissions trading schemes under which emissions credits are allocated to adult individuals on a (broadly) equal per capita basis, within national carbon budgets.  Individuals then surrender these credits when buying fuel or electricity. Individuals wanting or needing to emit at a level above that permitted by their initial allocation would be able to engage in emissions trading and purchase additional credits.

Conversely, those individuals who emit at a level below that permitted by their initial allocation have the opportunity to sell their surplus credits. Thus, individual trading under Personal Carbon Trading is similar to the trading of companies under EU ETS.

In other words, saving energy can help you purchase energy!

Installing solar panels can save you in more ways than one

Getting back to the Pennsylvania family… here’s what they did.  In 2009, they installed a solar panel system on their home, and also made additional energy savings upgrades.  This year, they registered with myemissionsexchange.com, which verifies the amount of CO2 emissions saved and can then sell carbon credits.  The Wilsons sent their pre-solar and post-solar electricity bills, and then got the amazing news that they had saved more than a ton of CO2 emissions as a result of the installation!

Next, the Wilsons decided to sell their windfall.

The personal carbon credit was bought for… well… a mere $21.50.  Yet, that’s better than a rate hike!  And, not only will the family pay off their solar panel system within about 6 years, but they’ll also enjoy property value increase, as well as free energy for years to come.  Did I mention the fact that a TON of CO2 emissions will be saved by this one family, alone?

In the years ahead, the extra cash that can be recouped through personal carbon trading could increase – depending on the laws enacted by Congress.  Whether we’re talking cap and trade, or a carbon tax bill, a family of four could pocket an additional $1,000 each year…. on top of significant savings on utility bills!

Kudos for going solar definitely go out to the Wilson family.  And for many people that are considering converting to solar electricity, its not really about a personal carbon credit.  Over time, however, it could be just the incentive to get people off the fence and tapped into solar power.

Save Money with Solar Power

Did you know you can save money with solar power?  Its a common misconception that solar is prohibitively expensive.  Quite the opposite is true.  With today’s government incentives for renewable energy, it only makes sense to install solar panels to guard against future rate increases and also enjoy a dramatic drop in your monthly utility bills.  And, for every $1 you save in annual energy costs, the value of your home increases by $20.  That’s quite a return on your investment!

I know – you’re probably thinking about the upfront costs for solar.  While a solar panel system may retail for $10-20,000, tax credits and rebates from both federal and state programs may allow you to recoup up to 80% of that cost.  You can also negotiate group discounts for solar panels through sites like One Block Off the Grid.  Other government programs allow for financing like solar energy loan programs, and even special deals on mortgage loans when homeowners go solar.  Heck, you can even rent or lease solar panels!  If you’re curious about how to finance solar panels, check out a two-part series:

How to Finance Solar Panels (Part 1)

How to Finance Solar Panels (Part 2)

Solar power is more affordable when you consider all associated costs

There are so many ways to save money with solar power.  But you also need to think beyond current circumstances.  Many people who consider the cost of solar energy only think about the price of panels and their existing utility bills.  They fail to contemplate the rising cost of power, against which they can guard by using free solar energy.  They do not think about the environmental cost of continuing to burn fossil fuels, or the price we’ll pay as a planet if we do not change our ways.

We’re not just talking about the loss of polar ice caps or species extinction.  Global climate change will literally cost us money from our pockets as we continue to respond to catastrophic events like Hurricane Katrina.

But even if environmental considerations are not at the top of your list of reasons to go solar, we can all save money with solar power if more of us invest in the renewable energy resource.  One article noted that:

“Enough sunlight falls on the state of New Jersey in 4 hours to supply all of its electricity for the year, if we could collect and convert it all perfectly!”

Its true – you can save money with solar power.  Why not invest in a solar panel system now so that you can avoid the higher winter utility bills this year?  Your wallet and the planet will thank you!

Solar panel system for swimming

I sure wish we lived closer to Portland, Oregon!  Solar panels on the East Portland Community Center help power and heat the water at the first LEED platinum natatorium (that’s a swimming facility, in case you need a vocabulary lesson).  This week, the community center celebrated the completion of the new solar panel system.

By adding solar electricity and a solar water heating system, the East Portland Community Center was able to achieve the highly-sought after U.S. Green Building Council’s LEED platinum rating, the highest “green construction” recognition available in the United States.  LEED is an acronym for Leadership in Energy and Environmental Design.

The natatorium opened earlier this year and immediately set a new standard for energy efficiency in Oregon.  Before the solar panels went up on the roof, the project was already 60% more efficient than required under current building code standards.  Now, the East Portland Community Center includes an 86-kilowatt (kW) solar panel system that will generate approximately 90,000 kilowatt-hours (kWh) each year, off-setting 15% of the center’s energy requirements.

Portland Oregon

Kudos go out to the Energy Trust of Oregon and Portland General Electric, which worked with the City to install the solar panel system on the natotorium.  The cost for the panels and installation will be covered through a public/private partnership between Portland and Commercial Solar Ventures, Sentry Financial Corporation and BEF Renewable.  Portland is leading the roof space on the community center and will purchase electricity generated by the solar panel system at market rates.

Children that go to the East Portland Community Center can even get a quick renewable energy lesson in the lobby!  The Bonneville Environmental Foundation’s Solar 4R Schools program is setting up a kiosk to show how much power is generated by the solar panel system on the roof.

Talk about a win-win situation!  Reduced energy needs, a solar power lesson, plus national attention as the first LEED-platinum natotorium.  Way to go East Portland Community Center!

Build a solar panel system for free energy

We’ve posted before about easy, DIY solar energy kits for your home.  With electricity costs rising quickly, don’t you think its time to build a solar panel system for free energy?

Trust me – you don’t have to live in the desert southwest or near the equator to tap into solar energy.  Nor do you need to spend tens of thousands of dollars for an investment.  Just a bit of UV light each day, and PV panels that are unobstructed and angled to the south (in the northern hemisphere).

Heck, even the government wants to make it easy for you!  With generous federal and state tax incentives, you can re-coup up to 80% of the cost of a solar panel system.

Home solar power system

There are many benefits you’ll realize from a home solar power system:

• No greenhouse gas emissions.  Solar energy is not only free, its carbon-free!  There are no emissions or byproducts from generating electricity from the sun.

• Free energy.  Your only cost is for the solar panel system.  After that, electricity is free, and reliable (no blackouts during storms or emergencies).  After a few years, you’ll recoup the cost of a home solar energy system in utility bill savings, plus increased property value.