Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated 2 months ago on . Most recent reply
![Griffin Malcolm's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2345412/1713555276-avatar-griffinm22.jpg?twic=v1/output=image/crop=2757x2757@1073x0/cover=128x128&v=2)
Are Solar Panels Worth It?
Hey team, question on solar panels and their impact on resale value. Essentially, is it worth it? I had a consultation with a solar panel salesman today and he quoted me 29k for 18 panels, however the final price would be 13k after New York and Federal tax credits plus a holiday discount. At 13k, I would be paying about $100 each month for electricity. There would be no up-front cost either. They would fix my $100 for the next 18 months as a grace period so I have time to put the tax credit money "back in" the full cost of the panels. If after 18 months I don't do this, then the loan is re-amortized and the monthly payment would increase.
It seems like a good deal, and an easy selling point to a potential buyer - "hey, your energy bill will be $100 each month even in the winter, and then once you've paid off the panels you've got free energy!" but I'm just not sure about the tax credits. Like, I understand it comes off my taxable income, but it's also not like I'm getting a check for 14k that I can throw at the panels. I feel like it's more likely I would just have a lower taxable income, but still have to pay mostly the full 29k, which would make the monthly payment closer to $200.
For context on the property - it's my house hack I've owned about 1.5 years now and plan is to sell in May of next year once I hit my 2-in-5 rights. I'm strictly concerned with ROI and how it looks to potential buyers. If anyone can provide some insight it would be appreciated. Thank you!