Do Solar Panels Increase Home Value?

The United States now has more than 6,000 people who work in the solar power industry and help us enjoy the benefits of this amazing technology.

As solar panels become more and more common, some people are wondering, “Do solar panels increase home value estimates?” The truth is that solar panels can provide a long list of benefits. That applies both when you are living in a home with solar panels as well as when you are selling a home with them.

So could solar panels be the right way for you to increase your home value? Read on to learn all about the biggest benefits that solar panels can provide for your home, and heads up, the benefits are much more than just the value of your home.

Do Solar Panels Increase Home Value Estimates?

So, does solar increase home value estimates? The simple answer is yes. However, it is worth understanding the details of how solar panels can increase the value of your home.

Not every homebuyer out there is interested in a home with solar panels. At the same time, there is a growing segment of the population that is willing to pay a premium for homes that already have all types of solar panels installed.

That goes double for any homebuyers who already intend to install solar panels if necessary when they buy their new home. Having solar panels on your home can save people from both the cost of installing their own panels as well as the work of arranging for installation.

Homebuyers are often juggling a huge number of factors when deciding which home to buy and how much to pay for it. Helping them simplify the process of getting a new home with the solar panel system they want can help you get a significant amount more for your property.

How Much Does Solar Increase Home Value Estimates?

Of course, the exact value that a homebuyer places on your solar panel system will depend. However, in some cases, people might be willing to pay around $15,000 extra for a home that already has a quality home solar panel system installed.

On the other hand, people might not value a solar panel system quite as much if it is 15 years old. The newer your home solar panel system is, the more people might be willing to pay extra while buying your home.

At the same time, modern solar panels require very little maintenance. They also can maintain their efficiency for decades. As a result, the added value of having a solar panel system on your home can maintain itself to a surprising degree even as the years go by.

-Source Zillow.com

Increase Curb Appeal With Solar Panel Installation

Another reason that homebuyers value homes with solar panels so much is that they can increase curb appeal. In fact, real estate veterans know that curb appeal can affect home values more than almost anything else. Curb appeal refers to how good your home looks from the curb.

Although people spend more time in their home than looking at it from the outside, they place a premium on having a home that impresses visitors. These days, solar panel systems are becoming a more and more desirable signal for many homebuyers. People who visit homes with solar panel systems for the first time often comment on them in a positive way.

That can do a lot to make a potential homebuyer value homes with solar panels more.

Attract Buyers With Environmental Solar Panel Benefits

In recent years, more people than ever before have started to pay close attention to the environment. This is another big reason that many homebuyers are willing to spend more on homes with solar panels. Not only that, but signs seem to point to people caring even more about the environment in the years to come. Solar panels are made from silicon and use the sun to create power, two of the most abundant resources on earth.

That means that investing in solar panels today might end up providing even more remarkable benefits tomorrow. Of course, you can also benefit from cutting down on your consumption from the grid by creating your own generated clean energy for however long you have your home solar panel system before you sell your home.

Cut Costs With the Best Solar Panels

A lot of people have seen their energy prices going up in recent months and years. There are also some indications that energy prices may continue to increase in the years to come. The higher energy prices go, the more valuable your quality home solar panel system becomes.

In fact, there is another added benefit to having solar panels that many people are not aware of. If you end up using less energy than your solar panel system produces, the extra energy will go back to the power grid. This not only adds sustainable and reliable energy into the grid, it could be a potential extra revenue stream.

Having a system designed specifically for your homes usage can give you the most bang for your buck. The more you converve energy in your home, the more you can generate to go back into the grid. For example, if you go on a vacation, your home solar panels will produce significant quantities of energy that you probably won’t end up using. That means that every vacation you take can come with an added financial bonus.

Talking about this benefit with potential homebuyers can be the perfect way to help them appreciate the value of solar panels even more than they already do. Power Wizard has vetted teams of unbiased solar experts that find the best quotes in the market for your home. Get a no-obligations solar quote and learn more about the additional benefits it offers.

Increase Your ROI With Tax Incentives

Depending on your situation, you may also be able to find tax incentives for installing solar panels on your home. As California pushes towards their states renewable energy goals, they have a variety of credits and benefits you may be eligible for. Texas credits and benefits are also on the rise.

However, potential homebuyers will still be able to get the full value out of your investment even if you get to reap the benefits with tax credits. That can make installing a solar panel system an even more efficient way to increase your home value.

Enjoy the Benefits of Buying Solar Panels

If you have ever wondered, “Do solar panels increase home value estimates?”, we hope you now have your answer. There is a long list of ways that installing solar panels on your home can increase its desirability for homebuyers. Of course, you can also enjoy the savings benefits of solar panels in the meantime.

To find out more about how you can get as much as possible out of solar panel tech, contact us at Power Wizard at any time!