What does Solar add to your home value?

Solar power has become an increasingly popular option for homeowners in recent years. Not only does it provide an environmentally-friendly energy source, but it can also add value to your home. In this blog, we'll explore how solar power can affect the home value for both sellers and buyers.

For sellers, having solar panels installed can greatly increase the value of your home. According to a study by the National Renewable Energy Laboratory, homes with solar panels sold for 17% more on average than those without. This means that if you were to sell your home for $300,000 without solar panels, you could potentially sell it for $351,000 with them installed.

In addition to the added value, having solar panels can also make your home more attractive to potential buyers. Many buyers are looking for homes that are energy-efficient and environmentally-conscious. By having solar panels installed, you are showing them that your home meets both of those criteria. This can make your home stand out in a crowded real estate market and potentially lead to a quicker sale.

On the other hand, for buyers, purchasing a home with solar panels already installed can be a major benefit. Not only will you be able to enjoy the immediate cost savings on your energy bills, but you may also be able to take advantage of tax credits and other incentives for owning a solar-powered home. Additionally, if you decide to sell the home in the future, you will likely be able to sell it for a higher price than if it did not have solar panels.

It's important to note that the amount of added value that solar panels can provide will depend on a variety of factors, such as the location of the home, the size of the solar system, and the age and condition of the panels. However, in general, solar power is a smart investment for homeowners looking to increase the value of their home and for buyers looking for an energy-efficient and environmentally-conscious property.

In conclusion, whether you are a seller or a buyer, solar power can add significant value to your home. Not only will it provide cost savings on energy bills, but it can also increase the appeal and marketability of your property. If you're considering installing solar panels or purchasing a home with solar panels, be sure to do your research and work with a reputable real estate agent who can guide you through the process.