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To Solar or not to Solar

Nov 12, 2021

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So one of the things that I was looking at is, I saw this article on solar power and in the state of Florida, the solar panel use has jumped 57% in 2020. I have run into houses that people wanted to sell or people that I’ve sold them home, and they’ve told me that they put solar on it after. It’s relatively new in homes. There are a lot of solar companies out
there. I don’t know a ton about it. I have researched some of it. And I’ve looked at, when you sell a home, how an appraiser is going to evaluate the home when it comes to solar panels, because a lot of times when people are buying them, they’re getting a loan, for it, and their loan amount is pretty nice and it’s less than what they were paying in electricity. It ends up being a pretty good deal and everything for them.

There are tax rebates, lower costs for technology, low-interest rates, all those things are entering in, on there. But there isn’t a lot of history on, solar panels and there’s not a lot of data. When it comes down to it, one of the things that people are running into challenges on, is actually insurance, when you put solar panels on your home. A lot of times they’re going on the roofs and roofs are already a big deal in Florida because of the concern about hurricanes.

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When a hurricane comes through, the insurance companies have a lot of risk and liability. Something I was reading was saying that, there are a lot of insurance companies today
that, if your roof is over 10 years old, they don’t want to insure you, and they require a new roof every 10 years. The roofers say that they’re good for 15 or more, unless you have some kind of damage to it, so all insurance companies are not
the same. My message here is, on these solar panels and what I was looking at is that you really need to look at the whole picture, and before you sign the contract, I would check into it or ask them about insurance, because it’s a big deal.