Buying or Building a Home? 3 Reasons You Must Go Solar!

Deciding when and where to invest in solar can vary for everyone, depending on their unique circumstances. However, one of the most universally advantageous times to go solar is when you're buying or building a home. Here's why:

The Costs of Homeownership: A Better Way to Save

When you buy a or build a home, certain fixed costs come into play-insurance, taxes, maintenance, and utilities are among the largest. But what if you could reduce these ongoing expenses while simultaneously increasing the value and equity of your home from day one? Below are three compelling reasons why going solar makes sense for any new homeowner:

1. Finance Terms and Net Savings

The loan landscape has been unpredictable in recent years, and solar loans have been hit particularly hard. In the solar industry, these are typically two types of loans.

- Flat Rate Loans: These typically come with higher interest rates.

- Buy-Down Loans: These allow you to reduce the interest rate to as low as 4.99%, but the trade-off is that the loan amount can increase by up to 36%. 

Additionally, solar loans usually cap at a 25- year term, unlike the standard 30-year mortgage. here's why integrating a hybrid solar system into your home loan is a brighter option:

Example Calculation: Let's assume an average solar system cost of $40,000, which typically provides about $300/month in savings and 12 hours of battery backup. The standard tax credit is 30%, but with our services, you can get up to 50% reduction in total and upfront costs by utilizing an up-front tax credit buy-up. This leaves you with a net cost of 20,000 to add to your mortgage.

With the current average 30-year fixed mortgage rate at 6.5%, the additional monthly cost would be around $125. That translates to a net savings of $175 per month, all while you can be sitting comfortably with the lights on when a storm rolls by.

2. Property Value

One of the significant advantages of installing solar in Texas is that any additional property value from renewable energy improvements is exempt from property taxes. By adding a system valued at $40,000 but financing only $20,000, you effectively increase your home's equity by $20,000 without a corresponding increase in your property tax bill. 

3. Enhanced Quality of Life

While we offer a variety of solar systems,  the most common request today is for Solar and Battery systems-also known as Hybrid systems. The main reason is clear: batteries provide a layer of security, insulating your household from power losses during weather- related events.     

but that's not all. Batteries also help you maximize your solar production by storing excess energy for nighttime use. Additionally, they allow you to hedge against peak-demand hours, potentially saving you even more on your electricity bill. Not only can you rest easy knowing your home will have power when others don't but you'll also be protected from the constantly rising costs of electricity. 

Conclusion

Adding a hybrid solar system to your home purchase is a wise choice that can significantly reduce your monthly homeownership costs. In some cases, you could save more than $175 per month by leveraging local incentives. We can design a system tailored to your specific needs, maximizing the value you receive. 

Interested in learning more about going solar and how SignaTech Solar can provide a customized solution for your power needs? Give us a call at (903) 707-8298, drop us an email at info@signatechsolar.com.