Better Warranties Mean Higher Solar Home Values
More good news for new solar customers. As residential solar competition heats up, system warranties are improving.
At Savenia, we calculate that systems with higher power warranties will see an overall increase in their system lifetime cash flows. – around 8% compared to lower level warranties. These higher power programs ensure that system owners get maximum power and minimal panel degradation during their system lifetimes. Understandably, these higher power system owners will see an overall increase in their system’s lifetime cash flow. For a solar system size of 8kW with average US electricity costs, this translates into an increase of around $3K on top of all the other financial benefits of the system. This assumes one solar system with a warranty guaranteeing power at 92% vs. new over 25 years, and another system guaranteeing 80%.
Many other elements in the warranty package are also changing with competition. Length of warranty (ranging from 10-30 years), payment of fees for removal / shipping / repair / installation of faulty items, which components are covered (panels, inverters, management software, etc).
Savenia Solar Ratings help capture and communicate the added value of solar systems in all 50 states.
Savenia Solar Ratings for Installers – Provide solar customers with a powerful, 3rd party independent report on the value added to the home as a result of solar installation.
Savenia Solar Ratings for Home Sellers – Provide potential home buyers with a 3rd party, independent report and marketing materials to help differentiate a solar home, sell faster and capture more value.