How to Make Money from Home Solar Energy
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Solar Energy is Ideal for Single Family Home Rental Property because solar panels are designed to last 30 to 40 years. It is perfectly legal to charge tenants for power produced from solar panels. The property owner can charge for power produced from solar by including it in a lease or charge separately for it. The one limitation is that you cannot charge a higher rate than the local power company for power produced.
The business Investment Tax Credit (ITC) under IRC Section 48 is a federal incentive that encourages businesses to invest in renewable energy systems, including solar. The ITC tax credit goes to the owner of the solar panel system. The property owner receives a tax credit for every home they install solar. Home solar has no sales tax, fuel charges, local, or state taxes.
A home with an average monthly power bill of $220 will pay approximately $27,000 for a solar system. After deducting 30% for the ITC tax credit of $8100 the total net cost of solar is $18,900. This size solar system will produce $220 monthly offset of power consumption. A home solar system that offsets $220 monthly for twenty years amounts to $52,800. Tenants accumulated would have paid the power company $52,800, not including power company price increases over 20 years. These are low estimates because the solar panels are designed to produce well beyond 20 years. The tenant is already renting electricity, so why not benefit from home solar by renting your tenant’s electricity? Creating an additional revenue stream from solar is a golden opportunity!
Home Property Rentals benefit financially from solar because they can negotiate a better price for installing solar on multiple homes. Home solar is a guaranteed investment for single or multiple home rental properties because tenants can be charged for the power produced for the next 25 years.
Many property rental owners who don’t have a long-term plan and might be selling their homes shouldn’t be concerned because solar increases the value of a home. Homes with solar panels often attract environmentally conscious buyers. Zillow found that homes with solar power sell for an average of 4.1% more than comparable homes without solar. Combining the increased home value and the ITC tax credit makes solar a sound investment for rental properties, short or long-term.
The primary objective is to shorten the time it takes to offset the cost of solar with what you would have paid the power company anyway.
System Size | Retail Cost | Tax Credit | Net Cost | Production (Monthly Power Bill) | Break-Even Point |
7K Solar System | $23,500 | $7,050 | $16,495 | $150 a Month in power | 9.2 Years |
9K Solar System | $29,250 | $8,775 | $20,475 | $190 a Month in power | 9.25 Years |
11.7K Solar System | $39,000 | $11,700 | $27,300 | $250 a Month in power | 9.20 Years |
Disclaimer: You Must Seek Expert Advice for the ITC Solar Tax Credit Because No Two Homeowners’ Income Taxes are the Same. Consult with a Tax Expert to Determine if You Qualify for the ITC Tax Credit and How Much You Qualify for Per Year.
High-quality solar panels can last 30 years or more, Solar Panels have no moving parts. Regular maintenance contributes to their longevity. Major Manufacturers Warranty Solar Panels for 25 to 30 years.
System Size | Wholesale Cost | Tax Credits | Net Cost | Production (Monthly Power Bill) | Break-Even Point |
7K Solar System | $19,250 | $5,775 | $13,475 | $150 a Month in power | 7.5 Years |
9K Solar System | $24,750 | $7,425 | $17,325 | $190 a Month in power | 7.6 Years |
11.7K Solar System | $32,175 | $8,365 | $23,810 | $250 a Month in power | 7.9 Years |
Add-Ons To Every Solar Proposal | Cost of Add-Ons |
The Cost of Salesperson | $2500 |
Sales Manager | $1000 |
Proposal Builders and Permitting Department | $1000 |
Overhead: Rent, Auto Insurance, Vehicles, and Utilities | $1000 |
Cost of Leads and Marketing | $1000 |
Points for Low-Interest 20-Year Loan Terms (Frequently Hidden Cost) | |
Solar Panels, Inverter, Installation | $17,000 |
Solar Company Profit | |
$3.25 a Watt or Lower for a 7K Home Solar System Total | $23,500 |
Disclaimer: You Must Seek Expert Advice for the ITC Solar Tax Credit Because No Two Homeowners’ Income Taxes are the Same. Consult with a Tax Expert to Determine if You Qualify for the ITC Tax Credit and How Much You Qualify for Per Year.
Add-Ons To Every Solar Proposal | Cost of Add-Ons |
The Cost of a Salesperson | $500 |
Sales Manager | |
Proposal Builders and Permitting Department | $1000 |
Overhead: Rent, Auto Insurance, Vehicles, and Utilities | $750 |
Cost of Leads and Marketing | |
Points for Low-Interest 20-Year Loan Terms (Frequently Hidden Cost) | |
Solar Panels, Inverter, Installation | $17,000 |
Solar Company Profit | |
Your Solar Advocate Target Price $2.75 a Watt or Lower for a 7K Home Solar System | $19,250 Tax Credit – $5,775 The net Cost Is $13,475 |
Get Top Brand Solar Panels and Equipment for 3% Above Wholesale Cost Eliminating the Middleman Saves Big Money! 813-602-4814 813-602-4814 We Specialize in Home Solar
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Get Top Brand Solar Panels and Equipment for 3% Above Wholesale Cost Eliminating the Middleman Saves Big Money! 813-602-4814 813-602-4814 We Specialize in Home Solar
“Get top-quality solar panels and equipment at just 3% above wholesale cost, eliminating middlemen and saving you money!” 813-602-4814 813-602-4814 Super Home Solar Special Offer!
“Get top-quality solar panels and equipment at just 3% above wholesale cost, eliminating middlemen and saving you money!” Home Solar Repair Super Special Offer PORTFOLIO
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