If You Want to Increase the Value of Your Home, Go Solar!
Solar power can be an excellent way for homeowners to save money on their electricity bills and help protect our planet from pollution. Did you know that solar panels not only help save energy but they also add extra value to your house?
Solar Panels Improve the Value of Your Home
If you're thinking about installing solar panels for energy independence, homes that have installed solar panels often get more market value when selling the home. You'll find plenty of evidence backing up these claims - let's review some:
A research article posted by Zillow.com back in 2019 concluded that homes with solar panel installations on average sold for 4.1% more than homes without solar panel installs. The amount varied substantially based on the location the house was sold in - with some houses selling for 5.4% more in certain areas.
For every $1 in savings you receive on your electric bill from solar panels, they add $20 in value to your home. If you save $200 per month by installing solar panels at your house, you'll add another $4,000 worth of value to your property.
- Every dollar saved in electricity bills adds up to about 20 dollars added to your property’s market value.
- Houses that have solar panels installed on average sold for 17% more than houses without solar panels.
- These houses also sold 20% faster than houses without solar panels.
Frequently Asked Questions
What Does This Mean For Your Solar Panels and Home?
On average, homes with solar panels tend to sell quicker than others, and generally get more market value than houses without solar panels. You could use that extra cash to take a nice getaway vacation - and you'll deserve that nice getaway after selling your house. In addition to this, developers have even started building homes with solar panels attached already installed hoping they would be appealing to prospective home buyers.
A growing number of homeowners and small businesses are installing solar energy systems. Aside from the environmental benefits, there are plenty of financial reasons why homeowners would be interested in adding solar panels to their homes. As fossil fuel becomes scarce, the price of grid produced power will continue to rise. Solar panels will allow you to produce enough electricity for your home without having to rely on costly utility companies.