J Ferg Knowledge Base

Do Solar Panels Increase Home Value?

Many people may want to buy solar if they plan to put their house on the real estate market. When considering a long financial investment, solar panels are a great way to increase your home’s value. As the amount of ROI (return on investment) may differ, there are three factors to consider:

Location of your home
Size of the solar system
The current market value of the house

Solar panels have been increasing in popularity over recent years. As people learn more about solar, they understand its impact on generating clean energy. In addition to clean energy, individuals and families will have power over rising electricity costs. There is no doubt that solar panels will increase your home’s value. According to The National Renewable Energy Laboratory, each additional $1 in energy bill savings adds $20 to your home’s total value. The homeowners’ return on investment is 20 to 1. Research shows homes with solar panel systems sell 4% higher than homes without solar systems. On average, the added value of your home increases by $9,200. Approximately 80% of people buying homes look for solar panels or other energy-saving upgrades. Homeowners with solar panels can ask for higher prices than face value; increased demand for solar panels accelerates the selling process. Solar panels add value to your home and save you money in the long run. Unlike swimming pools and extensive landscaping that has to be maintained, solar panels save money after the initial investment. Saving money, especially in energy, benefits future homeowners by marketing high importance and demand value. Overall, your home’s value increases as more solar panel installments are established. The solar energy investment could have a return of 200% or more. Investing in a long-term investment such as solar can increase your home’s real estate for growing, clean energy buyers.

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