Larry Weltman advises on what to know about home solar PV panels
Energy trends in the United States, Canada, Germany and other major industrialized nations are rapidly changing. As a result of aging infrastructure, increasing costs associated with fossil fuels and growing environmental concerns, increasingly traditional energy sources (i.e. natural gas, nuclear, coal) are being replaced with more environmentally forward-thinking sources, such as wind, thermal and solar energy.
This is very good news. After all, there are two simple facts that are difficult to ignore: one, coal and natural gas are finite resources that will eventually run out; two, fossil fuels have done and continue to do enormously detrimental damage to our climate, as has been well-documented.
What about solar energy?
Over the past five or so years, the solar energy industry has grown tremendously in many industrialized nations. Google the topic and you will find a multitude of media articles describing the robust growth in the solar industry. An article this month commented on the growth of solar power in Ohio being “faster than can be measured”. A Washington Times article, also from this month, had solar power generation tripling in the state of New York since 2011.
The Canadian province of Ontario has been a leader in the country in creating sustainable energy practices. Through the implementation of feed-in tariff programs, like Ontario’s MicroFIT program, the province has seen incredible industry growth in solar power.
Understanding that with feed-in tariff programs like MicroFIT there is an economic advantage to installing solar panels on one’s homes, an increasing number of residents in Ontario, and indeed throughout Canada, have become interested in solar panel installations for their own homes.
But, solar energy and photovoltaic cell technology is still relatively new and most homeowners have plenty of questions before even considering installing panels on the roofs of their homes.
How much will it cost to install the solar panels? How much maintenance and upkeep do they require? What kind of return on investment will they provide? And perhaps the most nagging question, what happens when a homeowner decides to sell their home – what happens to the panels? And do they make it more difficult or less when it comes to selling one’s home?
The good news is that, increasingly, when homeowners begin to ask these questions, they end up being pleasantly surprised with the answers.
Larry Weltman is with Access Easy Funds Limited, a company that assists real estate agents by advancing their commissions, so they can have cash on hand to fulfill their business and personal obligations. Larry Weltman offers this advice for those interested in investing in solar panels for their home. “If you are hoping to capitalize off feed-in tariff programs like Ontario’s MicroFIT program, it is important that you get the panels up quickly and submit the appropriate applications,” he said. “The 20-year fixed term rate has steadily decreased, so getting it locked in as soon as possible guarantees you reap the highest benefit.”
Despite the steady rate decline, installing photovoltaic panels is still lucrative and offers a high return on your investment.
“Solar panels have become more and more affordable, so the decrease in rates is being mitigated by cheaper purchasing and installation costs,” Larry Weltman points out. “making solar panel installation increasingly lucrative.”
Contributing to sustainable energy production is a responsible and intelligent way to generate extra income, produce green power and ensure the longevity of our environment. What’s also good to know is that packaging existing solar panels into the sale of a house is becoming increasingly common; in turn, real estate agents are becoming more versed in how to negotiate existing solar panels into a home sale for the benefit of both the homebuyer and seller.
Disclaimer: Any time finance is involved, there are a lot of legal and regulatory challenges. Thus, an obligatory word from our legal department… The views or opinions presented in this article are solely those of the author and should not be relied upon by any readers. Readers should do their own due diligence consult professionals in making their own determination whether or not to install solar panels on their homes, or when purchasing a home with solar panels installed on the home. The author and this site assume no liability whatsoever for any damages of any kind incurred or suffered as a result of the reliance by any reader on his views expressed in and discussed in this article.
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