Are you considering installing solar panels on your home but are scared off by the price tag? That’s a totally normal reaction to such a big investment.
The good news is that solar panels pay for themselves over time, thanks to the money you save on your energy bill. That means that just one major question remains: do solar-panels increase home value?
We’re answering that question and more in this solar panel guide, so keep reading to find out.
Do Solar-Panels Increase Home Value?
More good news: solar panels can increase the value of your home. Why? Because home buyers today are more eco-conscious, and they have been attracted to the cutting-edge feel that solar panels bring to a house.
Plus, when a home already has solar panels installed, you are saving the buyer the cost of installation. They are willing to pay a higher amount for the entire home to avoid having to install solar panels themselves.
How Much Value Do Solar Panels Add to a Home?
How much value solar panels can add to your home depends on several factors, including:
- Your location
- The type of solar panel you installed
- Whether you own the solar system or are leasing the equipment
According to the U.S. Department of Energy, a 2015 study showed that homebuyers paid on average $15,000 more for homes with a medium-sized solar system. They also reported that homes with a solar system installed sell faster than homes without.
The best way to know a more accurate amount for your home is to get a professional home appraisal done.
More Solar Panel Benefits
There are additional solar panel benefits that make installing a solar system attractive for you and any potential buyers when you decide to sell your home.
First, solar panels come with amazing tax incentives in the United States. All homeowners who install a solar system from now until the end of 2022 will get a 26% tax credit. In 2023, the tax credit will be 22%.
Individual states also have their own tax incentives. When you add up all the savings that solar panels provide, from the free energy to the tax credits, it makes the initial price tag seem easier to manage.
The next benefit of solar panels is that they produce clean energy. Installing solar panels on your roof is the number one way you can make your home greener and protect the planet.
Solar energy is also incredibly reliable. Thanks to backup solar batteries, you can store solar energy to use on a rainy day. You can also maintain your home’s power during a storm or neighborhood outage.
Trust us; you will not regret your decision to install solar panels. For a reliable and professional solar panel installer, we recommend Blue Raven solar company.
Finals Thoughts on Solar Panels
There’s no way around it: solar panels are the future of energy. All of the benefits far outweigh the sticker shock of the installation price.
Do solar panels increase home value? The answer is yes, but several factors will determine just how much value a solar system can add to your home.
For more solar panel tips, check out the rest of the blog.