Are solar panels worth the investment?

Hi Mark! I have a Tesla system in my home (panels + powerwall) and have been very happy with the financial and comfort impact of the system. A good system will definitely add value, but be careful with any lease programs.

Hi Mark, it may depend on your area and how long you plan to live in the home. In my experience, where I live in SC, appraisers do not know how to put a value on solar panels, and I have not experienced them adding much value, at least not enough to cover the cost.

Mark, I am an agent out of Florida, and my first advice is to check with your insurance company first. Here some of the insurance companies will not insure solar roofs. But for your question, it depends on the type of solar panels you put on or if you go all out with a Tesla roof? How long you are going to keep the home after you put the panels on? This may help if the cost savings in worth it. As to the value, it really depends on your market. I would recommend you speak to a local agent who carries the "Green Designation" to help you. I would be happy to refer one to you up there.

They can be, depending on energy costs, incentives, roof age, and financing terms. Owned systems add more value than leased panels, which can complicate resale.

Solar can still make sense in Illinois, but it depends on the numbers, not the sales pitch. Illinois actually has solid solar incentives. The state's renewable energy credits, federal tax credits, and net metering programs can significantly reduce the effective cost of a system. Even with cloudy winters, Illinois gets enough annual sunlight to make panels productive. You won't generate as much as someone in Arizona, but the incentive structure helps close that gap. On the roof question, a reputable installer uses flashing and sealant on every penetration point. When done right, it doesn't cause leaks. The risk comes from cheap installers cutting corners. Get a company with a workmanship warranty that covers roof penetrations for at least 10 years, and make sure your roof is in good condition before you install. If your roof needs replacing in the next 5 to 10 years, do that first because pulling panels off and reinstalling them adds cost. Whether it's worth it financially comes down to a few things. How much is your current electric bill, what's the total system cost after incentives, and are you buying or leasing. Buying the system outright or through a loan gives you the best long-term return. Leasing is easier upfront but you don't own the panels and it can complicate selling your home later. On home value, owned solar panels do add value. Studies consistently show buyers will pay more for a home with owned solar. Leased panels are a different story because the buyer has to qualify to take over the lease, and some buyers see it as a liability rather than a benefit. Run the math on your specific situation. Get 2 to 3 quotes, compare the payback period after incentives, and make sure the monthly savings actually outweigh the cost of financing. If the payback period is under 8 to 10 years and you plan to stay in the home that long, it's usually a solid investment. Barrett Henry Broker Associate | REALTOR® RE/MAX Collective · The NOW Team Tampa Bay, Florida nowtb.com

Illinois is actually a better solar market than most people expect. The state has strong net metering laws meaning your utility credits you for excess power you send back to the grid, and Illinois has its own solar incentive program called SREC that pays you for the energy your system generates on top of your electric bill savings. Cloudy winters slow production but do not eliminate it, and summer output typically offsets the slower months well. On home value, owned solar systems do add measurable value in most markets. Studies consistently show buyers pay a premium for homes with paid off panels. The caveat is leased systems, which can actually complicate a sale since the buyer has to qualify to assume the lease. If you go solar, own it outright or finance it so it transfers cleanly with the home. On the roof penetration concern, reputable installers use flashed mounts that are warrantied against leaks and are generally not a problem on a roof in good condition.

If you are considering solar panels, there are many issues to research: cost, quantity, long-term production, and resale policy. Depending on where you live, you may or may not have buyers who have solar on their wish list. If you lease the panels, your buyer may need to qualify to take over the lease from you. I recommend talking to a local real estate agent who has experience selling homes with and without panels so you are well informed before making a decision.