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New Solar-Powered Home in West Palm Beach Hits Market for $17.75 Million, Sets Record

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Positioned to become the most expensive single-family home in the city of West Palm Beach

A newly built contemporary home that is 15,000-square-feet and runs completely on solar power energy in West Palm Beach, Florida, listed for a record $17.75 million.

Developer Steve Bendat of Aquantis Group Development, who is known for luxury real estate, worked with local architect David Lawrence to combine cutting-edge technology with a timeless design.

In 2019, they sold a newly constructed home in West Palm Beach for $11.5 million, making it the most expensive single-family home in the city. That is, until now. 

The new three-story house has six bedrooms, 11 bathrooms, and comes with a theater room, a gym, a private guest house, a home office, a pool and a four-car air-conditioned garage, according to the listing. Those features are amazing, but they didn't elevate the price. 

So how did the designer and architect add more value to the home to surpass the previous market real estate record? 

They incorporated solar and made their design hurricane resistant with reinforcements to withstand the strongest of storms. 

Most South Florida homeowners don't know this, but switching to solar from your traditional utility (FPL) provides you with more benefits immediately and long-term. 

Here's what you need to know about solar and battery backup systems: 

  • Proven property value increase of 4.6% upon installation of a solar system.
  • Financing options make the cost of your system comparable to what your currently paying on your FPL bill monthly, so you're simply replacing this recurring expense for a better option.  
  • Solar system purchases in Florida do not incur sales tax, installations do not increase your property taxes, and homeowners with solar qualify for tax incentives and benefits.
  • 26% of the total system cost is given as a credit to the homeowners on their federal income taxes. So if a system is $50,000 the homeowner would qualify for a $13,000 income tax credit. Please note, the homeowner would have to contract the solar installation by October 2020 to have installation complete by the December 31,2020 deadline. 
  • Loud noisy generators can be eliminated with Tesla Powerwall backup batteries. Bonus: they qualify for the 26% income tax credit incentives.

 

Most Vinyasun customers find that they benefit from this investment. Instead of giving away money to their utility providers over the next 20-years, homeowners are switching to a power system they can own and can control.

When you compare the rising costs of utility rates and the fixed cost of solar remaining the same until the loan term is up, the numbers prove solar is your best option.

And when you gain reliable power 24/7 even during a storm or outage without maintenance or having to use a generator, well that decision is a no brainer. 

Click here to get your free custom system design and quote

Frequently Asked Questions

Can FPL or my HOA prevent me from switching to solar?

The Florida Solar Rights Act is a law that forbids any entity—including homeowner associations—from prohibiting the installation of solar or other renewable energy devices on Florida buildings.

An association may require approval of a system installation and may establish restrictions for installations. However, any such restrictions must be reasonable, not arbitrary, and applied in a uniform manner for all association members. Also, any restrictions must not have the effect of impairing the performance, or increasing the cost, of a solar system.

In particular, a homeowner association may not prevent the installation of solar collectors on the roof of a home. The association may determine where on the roof the collectors may be installed, so long as the collectors face within 45 degrees of due south.

Finally, any requirement(s) that a system be screened from view by trees, fences, ground mounting racks, or a remote roof location that is hidden from the street, will generally violate the statute.

Click here to verify information is provided by the Florida Solar Energy Industry Association

Is solar free for Florida homeowners?
  • The sun is free to everyone.
  • Solar panels and specific back-up battery systems qualify for a number of rebates, tax credits and incentives.
  • There is a cost associated with solar energy because you are paying for your system. 
  • Financing enables homeowners to make the transition with $0 upfront costs
  • Systems often cost the same amount monthly as your current FPL bill
  • Solar puts equity in your home because you own the system and increases the value a minimum of 4.1% - click here for the Zillow case study

Does solar increase my home value?

Not only can adding solar panels to a home save energy costs and help the environment, it also can potentially increase a home’s value. In 2019 Zillow found that homes with solar energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.

The sale premium varies substantially by market. In Riverside, Calif., for example, homes with solar-energy systems sold for 2.7% more than comparable homes without solar power—a markup of $9,926 for the median-valued home in the metro. In the greater New York City metro, solar-powered homes have a premium that is double that of Riverside. At 5.4%, that’s an extra $23,989 in value for the typical home in New York. In three other coastal metro areas—Los Angeles, San Francisco and Orlando, Fla.—homes with solar power can fetch a premium of around 4%.

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