By Maryanne Jackson. Real Estate Broker CNE, CPRES.
March 13, 2019 (San Diego’s East County) -
Dear Maryanne,
My spouse and I will be getting a substantial refund this year from our income taxes.
We both agree that the refund should go into improving our home. We really want to install a solar system. Is this an improvement that would get us a good return on our investment?
Any input would be greatly appreciated.
--Jannine S. Crest, CA.
Dear Jannine,
A solar energy system will pay for itself over time and provide a good return immediately by offering a savings on your monthly electric. A solar system can cost on average between $15,000 to $25,000.00, before tax credits. However, the savings is worth the pay out, over a 20-year period the approximate savings is about $45,000.00. In addition, adding solar energy will increase your home’s value and is an environmentally sound decision.
Payment options to consider:
- Paying upfront
- Private loan
- Lease from solar company
- Qualify for a loan from the solar company
Hiring the right solar company is critical. Check your BBB site and ask for recommendations.
To submit a confidential question, please submit to Maryanne Jackson, Real Estate Broker #DRE 01784021 at westcoastproperties@yahoo.com or call 858-740-7858. All questions answered on a first come, first serve basis.