Cost Of Solar Panels For Condo

Going solar in a condo.

Cost of solar panels for condo.

Going solar with a homeowners association hoa doesn t have to be a headache and it often isn t. Solar for condominium unit owners is uncommon but gaining steady popularity particular in states like california where specific legislation has been written about it. We ve tried it so there s a good chance you can too. A solar panel system is a smart investment that can reduce electricity costs increase the value of your property and reduce the environmental impact of your electricity use.

We now use a 1 5 kw solar panel system that generates enough power for our 2 bedroom home. With energy prices on the rise this may be the perfect time. Solar power systems are very custom based on the home roof type shading and utility. First you need to get permission from the board of directors of your.

You can go solar even if you live in a condo. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. Yes you read that right. Solar on individual units solar panel installation on a commercial building in washington d c.

Here s what you can do. Installation of panels for the average 5kw system ranges from 11 100 22 400. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. This is the largest home solar marketplace in america used by around 10 000 consumers a day to collect information about home solar and get quotes from solar.

If the cost of paying for the system is less than the savings on the common area electric bill solar can be a cash flow positive decision for a condo from day one. Installing a solar panel system costs an average of 23 597 and dropping most homeowners pay between 16 532 and 30 820 expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc. Luckily solar power isn t just for single family homes you can make the transition to solar even if you live in a condo association. If you own a condo unit and want to go solar there s two big things you should have in order to make this a reality.

Several states have solar rights acts which limit the ability of an hoa to simply reject a proposal to install panels on your property 1 the california solar rights act does not allow an hoa. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.