Purchasing solar panels for your roof is an excellent way to raise your home’s value on the market. The inherent value of solar panels is easy to see. All you need to do is calculate the yearly energy savings to determine the annual monetary value of a solar installation.
Homeowners do this calculation as ROI (return on investment) when they decide to install. Home buyers, however, can see the value of buying a home with solar already installed in terms of both eco-friendliness and long-term energy savings.
In 2021, 67% of home buyers ranked energy efficiency as highly important. With energy prices going up and increasing concern for sustainability, home buyers are willing to pay more for a home (an average of $9K – $15K more) for a home with solar panels.
Solar Energy Is On the Rise
Residential solar installations continue to rise in popularity and prevalance. The 2024 number of homes with solar installations has nearly doubled since 2020, and is seven times greater than in 2015.
There are several important reasons for this rapid climb in residential solar. Many homeowners share environmental concerns while also seeking long-term savings on utility bills through energy independence. Solar also reflects the modern homebuyer’s preference for sustainable featues. At the same time, solar panels have become more efficient and combined with energy incentives, they are more affordable to purchase than ever before.
How Solar Panels Make Your Home More Desirable
Solar panels are a wonderful way to save on power bills now and make your home more desirable on the market if you choose to sell in the future.
Immediate Energy Cost Savings
When your home is generating solar electricity, you will notice immediate savings on your power bill. A portion of each day’s electric use doesn’t have to be drawn from the grid because you’re using solar instead, which can lead to thousands in savings every year. Buyers usually also realize the financial value of paying lower power bills.
Protection From Rising Energy Prices
Solar provides you some protection against ever-rising energy prices. The more solar panels you have, the less you have to pay the power company. Buyers also see that value and are willing to invest.
Appeal to Eco-Friendly Buyers
Buyers who care about sustainability, energy efficiency, and eco-friendliness will be more delighted by your home and motivated to buy at a higher price.
Maximizing Resale Value with Solar Panels
When you install solar panels on your home, you are thinking of both immediate savings and future potential. To maximize how much value solar can add to your home’s resale value, prioritize maintenance and prepare to wow your buyers with the value of your solar installation.
Keep your panels in good condition and make sure they are gleaming for the home listing photos. Check to make sure your warranties and service agreements are transferrable, and let your buyers know. Lastly, keep up-to-date with technological advancements and consider updating your system to use the latest smart apps and solar controllers.
Planning for a Bright Future with Residential Solar
Solar installations provide long-term benefits by reducing your power bill today and boosting your home’s value on the market whenever you choose to sell. Contact us today to get a custom solar panel system that meets your home’s unique energy needs.
