Do solar panels increase home value? The short answer is yes, a residential solar system can be an asset to your family. In addition to saving money on monthly electricity bills, solar panels can also help you sell your home faster and for more money.
If you’re considering solar energy for your home, this blog post will discuss the different ways solar panels can increase the value of your home.
Do solar panels increase home value?
A positive correlation exists between installing solar panels and property value. According to Zillow, homes with solar panels sell for approximately 4% more than homes without solar panels. Additional research shows that solar panels also help homes sell up to twice as fast.
How do home evaluators assess value?
Professional appraisers determine a property’s worth based on cost, condition, and market trends. Solar panels can influence all three of these factors by improving the operational efficiency of a home.
Also, clean power is a contemporary investment that cuts utility expenses and makes a residence more attractive to buyers.
Top Ways In Which Solar Panels Boost Property Value
You could benefit from the installation of residential solar panels during your home sales process. Here are some of the primary ways solar increases home value:
1. Lower Electricity Bills
Solar energy is cheaper than grid power. After the initial investment, many homeowners see drastically lower electricity bills, sometimes even as low as a $10 monthly interconnection fee.
Home buyers are attracted to solar power not only because of the lower monthly bills, but also because it provides protection against future rate increases. The savings potential of solar energy makes it a great way to sweeten the deal if you decide to sell your home.
2. Enhanced Structural Integrity
Solar panels, when properly installed, can protect a roof from inclement weather. Unprotected roofs are susceptible to water damage. Damage caused by rain or snow can lead to expensive repairs, reducing the market worth of a home. Solar panel installation reduces the risk of leaking and moisture intrusions into your house.
3. More Power Output
Installing a solar power system increases the electric output by using renewable energy sources. This increased power output eliminates the need for purchasing additional power from the grid at peak demand times.
The extra electricity can also be sold back to the local utility company, further reducing monthly utility bills and making the home more attractive to buyers.
4. Transferable Warranties
Every solar system should have a warranty ensuring the panels’ performance and safety. Warranties communicate to potential buyers that homeowners have taken the necessary steps to safeguard their investments. Solar system warranties cover repair and replacement costs in case of panel damage.
If your solar panel warranties are transferable, that means they can be transferred to the new homeowner, giving you another attractive selling point.
Increasing Your Nevada Home’s Value With Solar Panels
Do solar panels increase home value in Nevada? Yes, installing solar energy systems effectively increases the value of your Nevada home. These systems provide numerous benefits, from reduced utility bills and reliable power output to secure warranties and cost savings.
Contact us today to find out how a professionally installed solar panel system can increase your property value.
