Solar Panels Increase Home Values by 4.1 Percent Nationally

Investing in solar energy not only benefits the environment and reduces electricity bills but also significantly boosts the value of your home. According to a report by Zillow, homes with solar panels in the U.S. sell for an average of 4.1 percent more than those without. This translates to an average increase of $9,274 in home value, making solar panels a smart financial investment.

The financial and environmental benefits of installing solar energy at your home are tangible, which is what makes pv panels installation a no-brainer for many customers. Solar panels reduce electric bills and carbon footprints, and both are big wins for customers. Beyond those integral savings, a growing amount of data shows that solar panels do one other thing too --- increase the value of your home.

A recent report produced by real estate data company Zillow shows that homes with solar panels in the U.S. sell for 4.1 percent more than those without solar panels. That 4.1 percent equates to an average of $9,274 nationally.

Zillow's report is affirmation of prior research done by the Lawrence Berkeley National Laboratory in 2015 that found that “home buyers consistently have been willing to pay more for a property with PV (solar panels) across a variety of states, housing and PV markets, and home types.” That study looked exclusively at PV systems that were owned, and not leased. That's important to note, as Powerhome sells the systems it installs.

Solar panels are seen as desirable by homebuyers because they see the potential of future savings on energy costs. Solar panel payments have an end date, but electric bills go into perpetuity. Not only that, but electric bills also rise over time as power companies raise their rates to cover rising costs. Those things are why Powerhome is fond of saying that going solar is a way of owning your power, not just continually renting it from the power company.

Why Solar Panels Are a Great Investment

Several factors contribute to the increase in home values associated with solar panel installations:

1. Energy Savings: Homebuyers are attracted to the potential savings on electricity bills. Solar panels can significantly reduce or even eliminate monthly energy costs, making homes more appealing.
2. Environmental Impact: As awareness of environmental issues grows, more buyers are looking for eco-friendly homes. Solar panels represent a commitment to renewable energy and a reduction in carbon footprints.
3. Government Incentives: Federal and state incentives for solar energy can offset installation costs, making solar panels an attractive investment. These incentives not only benefit current homeowners but also add value for potential buyers.
4. Energy Independence: Homes with solar panels provide a degree of energy independence, protecting homeowners from rising energy costs and power outages.

Solar Panels as Top Homebuyer Choice

Solar panels are increasingly seen as a desirable feature by homebuyers. This perception is driven by the potential for long-term savings and the growing importance of sustainability. Unlike traditional home improvements, solar panels offer both immediate and future financial benefits, which are attractive to a wide range of buyers.

Solar Panels Benefit Homeowners and Market

The positive impact of solar panels on home values is a win-win for both homeowners and the real estate market. For homeowners, the investment in solar panels pays off through energy savings and increased home value. For the real estate market, the inclusion of solar panels can make properties more competitive and appealing, potentially leading to faster sales and higher prices.

Beyond these benefits, solar energy is a great investment because of the potential to earn a 30 percent federal tax credit on newly-installed systems. That credit expires at the end of 2019 and will be replaced by a 26 percent credit in 2020 and a 22 percent mark in 2021 before disappearing altogether. There simply has never been a better time to go solar than now.

Powerhome for your off-grid life would love to work with you for your next installation project. We're the leading residential rooftop solar provider in seven states, and we've installed over 60 megawatts (60 million watts) of solar since 2015. We're proud of what we do for our customers, and we're proud of the difference we also are beginning to make for the environment.

Lower electric bills, carbon footprints and tax liability. Higher-priced home. Solar power for your home is a big win. Contact us now!