3 Ways Solar Power Increases Your Home Value
There are numerous reasons why adding a solar system to your property makes sense, from developing an environmentally friendly footprint for your home to lowering energy costs. But one aspect that many people may forget is that solar power can also increase your home’s property value.
According to Zillow, homes with solar panels generally sell for 4.1% more than homes without them and can add nine thousand dollars to the cost of the home.
Here are the top three ways that you can increase your home’s property value with solar panels from our pros at Solar Bear…
Solar Energy is Valuable
Energy efficiency is great for the planet and your bottom line. Generally, any kind of energy-efficient upgrade will increase the value of your property, and when it comes to solar panels, home buyers want them.
Not surprisingly, research indicates that solar-powered homes sell faster than non-solar homes in some markets. Further, some buyers want a move-in-ready house, so they may find extra value in a home that already has energy-efficient upgrades like a solar system in place.
Solar Power Pays Back
Once you have your solar panels up and running, you will be less reliant on the energy grid, and your system will start paying you back through energy savings.
Even if you are not sure that you are going to stay in your home long enough to enjoy the benefits of solar, they are still a smart investment because of the value that they add to your home.
How much value that they add to your home depends on many factors including:
- Where you live
- The price of electricity in your area
- The size, condition, and value of your home (before installation)
- The age of the solar panels
- How much energy the system saves
Finally, a solar panel system will allow you to enjoy enhanced electricity bill savings over the 25-30 years of your solar system’s lifetime. As utility rates increase, your electricity bill savings will grow with time. Even if you never sell your home, your solar installation will fully pay for itself many times over.
If you do decide to sell, you will be able to sell for a higher price, which will help cover the upfront cost of installing solar panels.
Other Ways Solar Panels Increase Your Home’s Value
Not sold yet? Here are a few other ways that solar panels can increase your home’s value:
- Reduce costs of homeownership
- Environmental protection
- Protection of your roof from the elements
- You can sell excess power back to the power company
- Able to charge electrical vehicles at home with solar energy
- Self-reliance and self-sufficiency
Things to Keep in Mind
Solar panels are more desirable in certain markets and areas than in others. In cities where buyers are more conscious of environmental issues, solar panels are more valuable when selling a home.
In addition to improving a home’s value, solar panels can also help your property sell more quickly. Many home buyers actively seek out green or energy-efficient properties, and solar panels can draw in buyers who are seeking a reduction in utility bills, energy savings, and environmental protection.
If you are concerned about increasing your home’s value with solar panels, consider talking with an experienced real estate agent in your area. They will be able to determine if green improvements like solar panels will enhance your home’s value and make it easier to sell in the future.
Choose Solar Power
Whether you are a homeowner or an owner of a small business, investing in solar power has both immediate and long-term value. Solar energy systems benefit homeowners by allowing them to gain energy independence, reduce utility bills, and add value to your home.
Solar Bear has extensive solar panel installation experience and can help you decide if a solar panel system is right for you! We also offer home energy audits to show you all the potential ways that you could be saving money and energy—and adding value to your home!
Contact us today for a free estimate on a solar system in or around the Orlando area —407-904-7585!