While solar panels offer several known benefits, such as lowering your energy bills, they can also increase your home’s value. According to a 2019 Zillow report, properties with solar installation sold at 4.1% more than homes without, adding just over $9,000 for the average home. Continue reading to learn how solar panels affect your home’s resale value in Arizona and considerations to make when selling a home with solar.
Can Solar Panels Affect Resale Value for Your Arizona Home?
Yep! They can add value to your home by 2-3% in Arizona, just slightly less than the national average of 4.1%, but still great. Therefore, if you plan to sell your home, going solar would significantly increase its value.
Adding solar panels to your home also saves energy costs. As the price of electricity rises by the day, a home with solar energy is bound to sell faster than those without. This explicitly targets homeowners who intend to consume more power in the future. The future cost savings that come with buying a home with a solar energy system make it worth spending more on their home upfront.
How Does Solar Panels Add Resale Value to Your Home?
Solar panels can add to the resale value of your home in many ways. There’s a high demand for homes with solar panels as homeowners are becoming more environmentally conscious, besides wanting to save energy costs. However, you should understand that the amount of value the solar will increase depends on the quality of your panels.
Another way that solar panels add resale value to your home in Arizona is through the net metering program. Net billing allows homeowners to earn future credits on electricity bills for the unused energy they generate and send it to their utility company’s electricity grid.
Considerations To Make When Selling a Home With Solar
Even with the benefits that solar panels bring to a home, you may sell them at a lower price if you make certain decisions. Therefore, carefully consider the following aspects to ensure you get the maximum resale value for your home.
Avoid Leasing Your Panels
A solar lease can be a prudent financial decision, but you should only consider it if you cannot afford the upfront cost of solar installation and your monthly payment will be lower than your bill savings. Otherwise, it’s better to own the panels than lease them since leased panels are not included in the appraisal, and many home buyers are unwilling to transfer the lease.
Get High-Quality Solar Panels
High-quality solar panels may be expensive, but their cost is worth it in the long term. They guarantee longevity, high-power generation and access to lucrative warranties. Therefore, if you intend to sell your home at a higher value in the future, it’s recommended that you invest in high-quality solar panels and backup batteries.
Emphasize the Energy Savings
Finally, highlight how much energy the potential homeowners could save when buying your home. Give them estimated savings from the solar panels to demonstrate the benefit of this added feature.
Maximize Your Home Resale Value With Solar Optimum
At this point, you have a clear understanding that adding solar panels to your home can boost your resale value. Ready to add panels to your home? At Solar Optimum, we can help you with everything related to solar panels, from evaluating your energy to how to take advantage of solar incentives and installing solar panels that are best suited for your home. Contact us to learn more about the advantages of going solar in Arizona, or download Solar Optimum’s Ultimate Guide to Going Solar.
