A homeowner realized that taking advantage of federal tax incentives for solar panels before they expire at the end of the year could net them thousands of dollars in savings while helping them secure the best offer when they choose to sell the house — but the time to act is now.
EnergySage can help people get started on their solar journeys for free, with its trusted advisers and installers providing unbiased advice and easy-to-compare quotes.
The scoop
A Minnesota homeowner reached out on Reddit's r/Minneapolis to ask whether they should begin a solar panel project by December 31 to ensure they get the 30% tax credit.
Solar panels offer annual energy savings worth at least $3,000 at a time when cost-of-living expenses are soaring. They also contribute to healthier communities because they don't release toxic pollution into the atmosphere when turning sunlight into electricity.
However, the homeowner said they would only be in their house for another five years. They wanted to know if the panels would be a worthwhile investment.
"In theory, the value of the solar panels should be internalized into the home price when I sell the home," the poster wrote. "I'm wondering if that's true in practice — does anyone have a good sense of how solar panels are viewed on the Minneapolis housing market?"
How EnergySage is helping
The data doesn't lie: While outliers and variations exist, buyers typically see solar panels as a major upgrade.
One six-state survey of appraisers found that a home with an average-sized solar panel system could fetch around $15,000 more at the point of sale than a home without solar panels. Other research suggests solar panels increase home values by 5% to 10%, per NerdWallet.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
While solar panels cost tens of thousands of dollars, EnergySage's free services can help you find the right system for your home. On average, EnergySage customers save up to $10,000. EnergySage's mapping tool will help you explore your estimated solar savings in each state.
If the price of purchasing panels is still too steep, Palmetto's LightReach leasing program makes the perks of solar available for no money down. Palmetto handles the maintenance, and you'll have peace of mind knowing you have locked in a stable energy rate.
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The cost 💰 A surefire way to supercharge solar savings is to electrify your home. Ditching a gas-reliant HVAC for a heat pump may be the best way to start. Mitsubishi can help you find the right heat pump at the right price — regardless of whether you live in a hot or cold climate.
What everyone's saying
Other Redditors in r/Minneapolis offered their takes on the solar market.
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"Some people will not like it," one commenter said. "But some people will really appreciate it, and it will set you apart from comparable properties."
"I would definitely consider a house with solar to be more competitive, all other features being equal," another affirmed.
"I would say if you are going to get solar panels also look at replacing the roof at the same time as any new homeowner isn't going to want to deal with potentially having to remove the panels to replace the shingles," a third suggested.
As an independent authority on rooftop solar, EnergySage can help answer your questions.
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