Some home additions can actually make it harder to sell your house. Things like jacuzzis, home theaters, and extensive landscaping can actually be hard to maintain and may deter potential buyers. Thankfully, solar panels are not one of those additions.
Selling a house with solar panels is often easier compared to a house without in markets where solar is popular. In this article, we will look at why solar panels make great additions and how you can expect your purchase to impact your home’s desirability.
Do solar panels increase home value?
According to 2021 Rocket HomesSM data, homes that had solar panels spent 13.3% less time on the market. They were also 24.7% more likely to earn an offer more than asking price.
The data is clear that solar panels do increase home value and help homes sell faster. However, the value comes less from the panels themselves than the impact they have on the home.
Here some of the ways that solar panels increase home value:
Lower Energy Bills
Although the Federal Energy Regulatory Commission keeps the energy prices in check, some states, such as New York, Texas, New Jersey, Virginia, Nevada, North Carolina, Connecticut, and California, have higher-than-average electricity rates. They have been listed in the 10 best solar markets by the Solar Energy Industries Association (SEIA).
According to the National Renewable Energy Laboratory (NREL), your home value increases by $20 for every $1 you save on energy bills. Residents in regions considered solar markets enjoy boosted market value for going solar. With the ongoing rise in inflation, more people might consider solar systems as an avenue of saving on utility bills.
Clean Energy
According to the Energy Information Administration, 12% of total U.S. primary consumption falls under renewable energy. This does not meet the will of 77% of Americans who are for the idea that the government should develop substitute energy sources such as wind and solar.
Between 2018 and 2023, the solar power industry has grown by 20.7% on a yearly average, with more people expected to opt for solar energy. More people are boarding the campaign on the implementation of green energy. This concludes that more people may consider solar panels as a requirement when buying a house in the near future.
More Power Output
A solar panel produces about 2 kWh per day. This means that solar energy can fully power a whole property with enough panels. The exciting part is that there is no invoice for the energy used. It also clears the need for costly backup generators increasing the home value.
Better Structural Integrity
Solar panels protect a home’s roof from adverse weather conditions such as heavy rains and snow. Solar panels guard the firmness of other exterior structures, such as gutters and fascia boards. This promotes the house’s safety and keeps the value of the home from depreciating.
Selling a House With Solar Panels
If you’re worried that going solar now may make it harder to sell your home in the future, you’ll be glad to know that solar panels can actually help your home sell faster and for more money.
Solar Optimum has achieved the dream for thousands of homeowners like yourself. If you have any questions or want to schedule a consultation, contact one of our Energy Experts today.
