Does solar add to home value? Absolutely. In most cases, solar panels can significantly increase the saleability of a home. But by how much exactly will depend on many factors, including location.
In this article, we’ll look at how much value solar panels may add to a typical Arizona home.
Do Solar Panels Add Real Value to Your Home?
It turns out that solar panels truly add value to your home in most instances. Forbes reported on some intriguing statistics related to the amount of improvement one might see when adding solar panels to their home:
“According to the National Renewable Energy Laboratory, every dollar that a solar panel saves you on your electrical bills increases the value of your home by $20. And according to Zillow, homes with solar panels sell for four percent higher than those without them.”
This is the double benefit that homeowners get to enjoy. On the one hand, they save money on their energy bills each month, and on the other hand, they might also be able to sell their home for more than they would have if they hadn’t installed solar panels.
Why Location Matters
One thing to think about when considering installing solar panels is the environment where the home is located. It is the case that homes located in regions of the world where sunlight is abundant will tend to do better than areas where that sunlight is not as accessible.
Different parts of Arizona receive different amounts of sunlight, but they all have some pretty impressive averages:
- Flagstaff – Roughly 260 days of sunlight per year
- Phoenix – Approximately 300 days of sunlight per year
- Yuma – About 320 days of sunlight per year
This means that solar panels on an Arizona home might prove to be even more valuable to the homeowner than they would in other parts of the country. It is all about getting enough sunlight for the solar panels to convert it into energy. Arizona has an abundance of sunlight, so you will find everything that you need to ensure that your home increases in value when solar panels are placed on it.
Does the Value Increase Offset the Initial Cost?
The vast majority of the time, the increase in value that one receives from installing solar panels on their Arizona home will more than offset the expense of putting up those solar panels in the first place. Therefore, there is little doubt that one should at least consider putting solar panels on their home. Housing prices are high right now, so any increase to your home makes a big difference in terms of how much you can anticipate making when your home is sold.
In the meantime, you might simply enjoy living in your home and taking advantage of the decreased energy bills. You can enjoy both benefits and do something good for the environment all at once. It is clear that there is something to be said for having solar panels placed on your home at this time, particularly if that home is located in Arizona.
Enjoy The Benefits of Solar Energy
Solar panels have been proven to help homes sell faster and for more money than similar homes without solar panels. If you are interested in harnessing these benefits and improving the value of your property, contact Solar Optimum today for a free quote. We are currently serving customers in Buckeye, Carefree, Cave Creek, El Mirage, Goodyear, Litchfield Park, Paradise Valley, Phoenix, Surprise, Wickenburg, and Youngtown.
