Are you considering the switch to solar energy for your home but hesitant about the upfront investment? One of the most compelling reasons for going solar is the impact it could have on your home's resale value. For homeowners and real estate investors looking to enhance their properties, tapping into the solar marketplace not only increases the eco-friendliness of your home but can also add significant financial value.

In this article, we explore the implications that investing in solar technology has on home resale values, and how this is benefiting homeowners as well as the environment.

No. 1

The Solar Resale Premium — Is It Real?

When considering home renovations, it's essential to weigh the financial impact against the costs. The case for solar is strong because, according to multiple studies, homes with solar panel installations tend to sell for more than those without. In a 2015 study conducted by the Lawrence Berkeley National Laboratory, it was found that homebuyers are willing to pay a sizable premium for homes with solar photovoltaic (PV) systems. On average, that premium was around $15,000 for a typical home.

In places like Calgary, it’s always a plus for a home to have solar panels installed. If you’re considering getting a house or have a property in Calgary and want a sustainable form of energy for it, Calgary Solar Power can help you with all your needs.

No. 2

Understanding the Appraisal Process

To make the most of your solar investment when selling, it's crucial to understand the appraisal process. The value of your solar system is determined based on the property's market value, which can increase due to savings on utility bills, tax credits, and other financial incentives. Appraisers typically use one of three methods to assess the value of solar panel systems: the cost approach, the income approach, and the market comparison approach.

• Cost Approach - Carefully evaluates the cost of the installation and compares it to the future benefits of energy savings.

• Income Approach - Takes into account the savings from your reduced energy bills over time as a form of income, for a net present value of these savings.

• Market Comparison - Looks at the sales prices of similar homes with and without solar systems in the area to determine the value that solar is likely to add in the local market.

No. 3

Solar Panels as a Market Differentiator

In a competitive real estate market, solar panels can act as a significant differentiator for your property. More buyers are becoming increasingly interested in energy efficiency and sustainability. Solar panels offer a clear way for properties to stand out as modern, environmentally conscious, and cost-efficient—particularly given the rising energy costs. They can also serve as a long-term solution to attract buyers who are looking to cut down on their electricity expenses.

No. 4

The Role of Solar in Homebuyer Psychology

Selling a home with solar technology isn't just about the numbers; there's also a psychological aspect that can help sway buyers. Solar panels often signal a well-maintained property with a future-focused owner. The sight of solar panels during a home showing communicates that the home is equipped with long-term infrastructure that lowers operating costs and reduces the carbon footprint—qualities that are highly desirable for many modern homebuyers.

No. 5

Solar ROI and Quick Home Sales

A primary concern for people selling their homes is often the time it takes to make a sale. Homes equipped with solar panels enjoy higher chances of selling faster. A reduced energy bill is a tangible benefit for buyers, giving solar-equipped homes an edge over others in the market. With a quicker sale, the return on investment for your solar panel system is not only in its added value but also in the expedited sale process.

Takeaways

Ultimately, the data is clear — solar power stands as one of the few home upgrades that will likely pay for itself and then some. The value addition is not just monetary; it's a bet on a more sustainable, efficient, and forward-thinking living. Whether you're investing for the future, the planet, or your equity, going solar is a win-win that illuminates the path to a brighter, greener home future.

No matter where you live in the world, we can all agree that keeping your heating and cooling unit in excellent condition throughout the year is a goal that mustn’t be overlooked. The reality is that replacing or repairing an AC unit can often present a few challenges.

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Not only do AC repair costs vary a lot, but finding the right repair package that includes repair and maintenance can be hard to find. This search can be especially daunting for new homeowners who are new to the complexities of AC repair.

To make the cost estimation easier for you, we have prepared an AC repair - Houston guide that outlines key points to consider.

all-in-one-guide

Cost of AC Repair - Houston, TX

When getting an estimate for the AC repair cost, you must know what is included in the repair package. Usually, AC repair packages vary from one HVAC contractor to another.

If you are looking for HVAC repair technicians in Houston, you will find that some technicians are providing complete maintenance and repair. Again, some repair companies are only providing the repair. This is why, before hiring an AC repair company, you must first check what is included in the package.

Nowadays, there is a trend among reputable and experienced HVAC contractors that they are providing complete AC maintenance and repair to their customers at an affordable price. These services include cleaning the filter, repairing the fan and evaporator coil, checking the AC leaks, removing dust, etc.

Things to do before deciding to repair your AC

No. 1

Evaluate the Air Conditioner’s Efficiency

An air conditioner’s efficiency is the ratio of produced cool air and energy consumption. It means the higher the AC’s efficiency, the more money you will save while operating the unit.

Older cooling units used SEER to indicate their efficiency. Usually, older cooling units had an efficiency under 10. On the contrary, newer ACs use SEER2 to indicate their efficiency, and the efficiency starts from 14.3. From this, you can easily understand that the newer cooling units are more energy-efficient than the older ones.

If you have an older cooling unit, it is obvious that it is running on low efficiency. Now, if your older units require repairs that consume much more electricity than they should and provide low performance, it is not financially viable to repair the unit. Instead, you should replace the older unit with a new one.

However, if you have an AC unit with high energy efficiency, you must repair the unit ASAP.

No. 2

Factor in the AC unit’s Age

After the AC’s efficiency, you will have to consider the age of the cooling unit. If your cooling unit is more than 10/12 years old, it is likely that repairs will not improve its performance. If the repair is done incorrectly, it can further damage the unit. This is why it is not advised to repair an older unit.

However, if you have a newer cooling system that requires repair, you are good to go with the repair.

No. 3

Consider the Frequency of Repairs

Finally, you will need to consider the frequency of the repairs. If you have been visiting the repair shop quite often, it indicates that there are some serious underlying issues with the HVAC unit. In this situation, no honest HVAC repair technician will suggest you spend money on repairs. Instead, you will be recommended to purchase a new one.

If you are looking for an HVAC contractor, Houston has some of the best repair companies for residential and commercial HVAC services. Technicians at these HVAC companies are certified and equipped with the tools that are required for AC repair and maintenance.

Houston, TX

Top 3 Factors Influencing the AC Repair Cost

No. 1

AC Repair Parts

AC repair costs will vary depending on the parts that need repairs. For example, if the AC thermostat needs replacement, it will cost you less than 100 USD. However, if the compressor needs repair, it can cost you 1000 USD.

Now, if the compressor is severely damaged or needs replacement, it can cost you more than half of the price of a new cooling unit. In this situation, purchasing a new cooling unit is advised.

For other parts, such as the evaporator coil, fans, and air filter, you can do the repair under 200-300 USD.

Again, if you have a malfunctioning thermostat and if you want to replace it with a smart one, it can cost you up to 200 USD. But why this price variation? 

Installing a smart thermostat is a useful feature that will allow you to schedule the temperature according to your preference. Also, these thermostats can detect the human presence. As a result, when there is no one in a particular room, it stops producing cold air for that room. Eventually, this leads to less energy consumption.

No. 2

Repair Package

As we touched on earlier, AC repair packages and pricing will vary from one company to another. Sometimes, new homeowners get enticed by focusing on the price of the repair packages.

Things look appealing, they sign up, and then they find out that many repair costs are not included—leading them to spend much more money on repairs and maintenance in the long run.

We can not stress this enough—before selecting a package, you must check what is included in the repair package. Are all the required repairs coming with the package? If not, how much extra will you have to pay for more repairs? 

Also, avoid choosing the package that comes to you first. Compare different repair packages, and select the one that meets your repair requirements and that is within your budget.

No. 3

Refrigerant Type

Knowing what type of refrigerant your unit runs on is important in identifying if you must replace your AC unit. Since regulations are constantly expanding, this may change depending on the age of your unit.

Due to the use of R22 as a coolant in AC being banned since 2020, if your AC unit still requires it and needs refilling, you will have difficulties finding it. Likewise, if you do find it, you may have to pay much more than the actual price. This is why it is recommended that if you have an older cooling unit that still uses R22, you should try to replace it ASAP.

Now, if you have a new AC unit and it uses the R410A coolant, you will not have to worry about increased costs.

Takeaways

Repairing and maintaining your home’s AC units can be easy and stress-free when done proactively. Selecting the right AC repair package that will guarantee that you are always covered should anything arise is the best warranty you can give yourself. Additionally, ensuring that you are aware of what the repair package includes will allow you to rest assured that repairs are covered.

Once you find a professional and experienced team to provide the AC support you need, when you need it, you will experience relief that you are always in good hands. Simply knowing that your AC units will always be functioning at their optimal level for sustainable energy consumption and cost savings is something you can enjoy for years to come.