Do Solar Panels Affect My Home’s Appraisal?

As the cost of electricity rises—with no signs of slowing down—a solar energy system is one of the best investments you can make for your home. By collecting free energy from the sun’s rays, a high-quality solar energy system can reduce or completely eliminate your electricity bill. In some cases, it can even earn you money if you collect enough power to send it back to the grid. But how do solar panels affect your home’s appraisal? Read on to learn everything you need to know

Solar Panels Have a Positive Impact on Home Value

According to a study from Zillow, solar panels do affect the appraisal value of your home in a big way. The study found that buyers are prioritizing energy efficiency more and more—so much so that they’re willing to pay 4.1% more on average than comparable homes that don’t have solar. 

What’s more, a solar home study from the U.S. Department of Energy’s Berkeley National Laboratory found that homebuyers are willing to add $15,000 or more to the price of a home that’s already equipped with solar power. It’s clear that a solar home energy system is a major selling point if you choose to put your home on the market in the future. Not only can it help you get a better price for your home, but it can also generate immediate buyer interest, helping your property sell quicker.

Maximizing Your Solar Energy Investment

As you consider making the switch to solar, remember that choosing the very best solar energy technology raises the appraised value and potential selling price of your home. It’s wise to invest in top-quality panels that provide maximum efficiency. Also, consider the following solar upgrades and programs that can bring your upfront costs down and bring you the best return on your investment:

  • Government Incentives. There are several solar incentives available on the federal, state, and local levels across the country. For example, homeowners who make the switch to solar enjoy a federal tax deduction equal to 30% of the overall cost of installation.
  • Net-Metering. If you invest in a high-quality solar energy system, your panels will likely collect more energy than your home needs. With net-metering programs, you can sell this extra energy back to the grid. 
  • Solar Batteries. If net-metering isn’t available in your area—or you’d rather store extra energy just in case—it’s wise to invest in a solar battery. You can save up energy that you can use in case of blackouts, days with low sunlight, or at night.

Invest in Your Home by Switching to Solar

Ready to raise your home value and enjoy energy independence all at once? Switching to solar energy to power your home provides several benefits, as long as you invest in a high-quality system. The solar experts at Solar Bear of Tampa are ready to install a premium solar energy system that helps you make the most of your investment. Call us today at (727) 471-7442 for an estimate!