Sound Advice 05-26-23
Solar power may be an attractive proposition for homeowners who want to reduce their carbon footprint and monthly electrical bills, but there are some important things to consider. Broker-Owner Matt St. Amour of Making Connections Realty explains:
“There are several reasons why adding a leased solar power package to your home might not be the best choice. First, the long-term financial implications can be quite significant. When you lease, you pay a monthly fee to use the equipment. The lease amount becomes an additional expense that a potential buyer has to add to his debt load, which reduces the mortgage amount for which they would qualify. When you need to replace shingles under a leased solar panel, the company may have the right to remove and re-install the solar panels—time consuming and expensive—and you may be responsible for the costs.”
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Matt St. Amour, Broker-Owner
Making Connections Realty
Mobile: (860) 803-4061
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