We put solar electric and water on our home about 3 yrs ago. We felt we were doing the right thing for the environment and would cut our expenses during our retirement years. It did cut our electric costs to ZERO and our propane consumption by about $200 / yr for hot water. That's right, we no longer pay for electric. We produce enough electric to cover the meter, line and billing charges too. We took the risk of going solar and made the up front expense which is like pre paying for the electric. The return on investment of some where around 12 yrs by taking advantage of the Federal and State incentives. So in effect, we prepaid for our electric for 12 yrs or so, and after electric and hot water would be free....or so we thought.
Now our property was reassessed because it is deemed a property improvement. Imagine that. Having solar panels on your property improves it. Our assessment went up by the cost of the solar systems. NY is gracious enough to grant a 15 yr exemption on that reassessment. But after that we pay higher taxes by what we estimate will be 50% of the savings on our energy costs due to solar. So in effect, what we will save in electric, we pay 1/2 of that in higher taxes. The only saving grace is that energy costs go up. But then again, so do taxes.
If you are considering solar.....it works. It works well. But first investigate what will happen to your property value and taxes.
And our country is encouraging solar. Bull! There is no way to win.
Now our property was reassessed because it is deemed a property improvement. Imagine that. Having solar panels on your property improves it. Our assessment went up by the cost of the solar systems. NY is gracious enough to grant a 15 yr exemption on that reassessment. But after that we pay higher taxes by what we estimate will be 50% of the savings on our energy costs due to solar. So in effect, what we will save in electric, we pay 1/2 of that in higher taxes. The only saving grace is that energy costs go up. But then again, so do taxes.
If you are considering solar.....it works. It works well. But first investigate what will happen to your property value and taxes.
And our country is encouraging solar. Bull! There is no way to win.


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