Did you know that solar energy installations are expected to double in America by 2023?
Lots of people are interested in reducing their impact on the environment. However, some homeowners are hesitant to make any big, expensive changes that could have a negative impact on their home’s worth.
Do solar panels increase home value? Keep reading to learn all of the important facts.
Do Solar Panels Increase the Value of Your House?
Since eco-friendly technology is in high demand, any home that offers solar power will have a higher property worth. How much does solar add to property value exactly? One study conducted by Zillow found that homes with solar panels sold for 4.1% more on average than their non-solar counterparts.
What Other Factors Influence If Solar Panels Increase Property Value?
The average value increases reported by Zillow are reassuring for anyone who’s considering investing in solar energy, but there are other factors that can lead to slightly higher or lower figures.
Homes that get the most value from their solar panels are ones that have large roofs and are located in an area that gets a lot of sun. However, even if your home doesn’t have the perfect conditions, solar energy will always lead to a significant increase in value.
Is Solar Energy More Cost-Efficient?
Although advancements in technology have made solar panels more accessible and affordable to the average homeowner, it’s still a big investment that requires lots of thought and planning. One fact that can make your decision easier is that solar energy will help you save more money in the long run.
If you can figure out a way to finance your solar panel installation, you’ll be able to increase the value of your home and end up making more money in return over the years. Since solar energy allows you to be more self-sustainable, you can cut your utility bills by an impressive amount.
What If I Want to Move in the Future?
Since installing solar panels is a big and expensive project, it’s important to weigh the pros and cons of investing in renewable energy if you know you plan on moving in the future. The good news is that as long as the housing market stays stable, you should be able to get a large enough return to be able to justify the cost of converting to solar energy. Adding other eco-friendly features to your home can make your house even more attractive to potential buyers and help you close at a much higher price.
It’s True that Solar Panels Increase Home Value
Now that you understand how and why solar panels increase home value, you can start planning for a brighter and greener future.
Are you ready to make the switch to solar energy? If so, Accelerate Solar would love to help with any commercial or residential job. Contact us to learn more about our services and to get your free quote.