Do Solar Panels Increase the Value of Your Home?

When buying a home would you pay more if there were solar panels on the house? 

With Ontario's current green microFIT program available to small solar projects (10 kW) and less returns to the home owner are quite generous. 

This program pays 80.2 Cents per kWh produced from a qualifying microFIT project. The average 10 kW system can produce around 12000 kWh per year. This equates out to about $9600 per year that is being generated from this system and paid to the homeowner. 

For calculating smaller projects, an average of 1200 kW hrs per year per 1 kW can be used in estimating returns. 

So yes, this can increase the value of your home because theses contracts are for a 20 year period. 

The great thing about the microFIT program is that theses contracts are transferable with the home and to to a potential new home owner. 

BUT... Potential buyers do your due diligence on solar systems as your would on your home. Some important questions to ask may be:

1) Does this system meet the domestic requirements for the microFIT programs ( ask for proof!)?

2) Ask to see past payments from Hydro One ( or your Local Distribution Company) to prove the actual income of that specific system. 

3) Ask about any warranties on the products and workmanship and make sure they are transferrable

4) Does your solar project meet all requirements of the microFIT program? ( this may be something to put on paper for protection in the case you were ever audited) 


For additional information on Solar and the microFIT program when buying or selling a home or property, feel free to contact me and I would be happy to help if I can. 

 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

David Gilvesy

David Gilvesy

Sales Representative
CENTURY 21 Heritage House Ltd., Brokerage*
Contact Me

Blog Archives