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Solar Panels and Home Value: Does Going Solar Increase Your Property's Worth?

Oct 24, 2024

3 min read

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October 24th, 2024


House with solar panels on roof

As a solar energy specialist, one of the most common questions I get from homeowners is whether installing solar panels will actually increase the value of their property. It's a valid concern, as making the switch to renewable energy is a significant investment, and you'll naturally want to know that it will pay off in the long run.


The good news is that numerous studies have shown a clear correlation between solar panel installations and increased home values. In fact, research from the Lawrence Berkeley National Laboratory revealed that homes with solar photovoltaic (PV) systems sell for an average of 4.1% more than comparable homes without solar. This translates to a significant boost in equity and resale value for homeowners who make the switch to solar power.


So, what's driving this increase in home value? Let's take a closer look at the key factors at play.


Reduced Energy Costs


One of the primary benefits of going solar is the long-term reduction in electricity bills. Homebuyers are increasingly aware of the financial advantages of owning a solar-powered home, as they can expect to save thousands of dollars on their energy costs over the system's lifespan. This built-in savings is an attractive selling point that adds tangible value to the property.


Imagine a scenario where a homeowner installs a 5-kilowatt solar system that offsets 80% of their electricity usage. Over the 25-year lifespan of the solar panels, that could translate to over $30,000 in energy savings. For prospective buyers, that's a significant financial incentive that makes a solar-equipped home much more appealing and valuable than a comparable property without renewable energy capabilities.


Electric meter on the side of a house

Increased Curb Appeal


Modern solar panel systems are designed to be sleek, low-profile, and aesthetically pleasing. Rather than detracting from a home's appearance, a well-designed solar installation can actually enhance its curb appeal and visual appeal. Many homebuyers view solar panels as a desirable, forward-thinking feature that sets a property apart from the competition.


In today's real estate market, where homebuyers are increasingly conscious of a home's sustainability and energy efficiency, the presence of solar panels can be a major selling point. The clean, integrated look of the panels demonstrates a homeowner's commitment to clean energy and can contribute to a property's overall visual allure.


Reduced Carbon Footprint


In today's environmentally conscious real estate market, homes with renewable energy sources are increasingly sought after. Savvy buyers recognize the value of owning a property that reduces its carbon footprint and contributes to a more sustainable future. The presence of solar panels demonstrates a homeowner's commitment to clean energy and can be a major selling point.


As concerns about climate change and the environmental impact of traditional energy sources continue to grow, the appeal of solar-powered homes will only increase. Homebuyers who prioritize sustainability and eco-friendliness will be willing to pay a premium for a property that aligns with their values and reduces their carbon footprint.


Solar panels in a green field

Increased Marketability


Homes with solar panels tend to spend less time on the market compared to their non-solar counterparts. This improved marketability is due to the growing demand for solar-powered homes, as well as the tangible financial and environmental benefits they offer. Homes with solar are often seen as move-in ready, with a key amenity already in place.


In a competitive real estate market, the presence of a solar energy system can give a property a significant advantage over similar listings. Buyers who are actively seeking homes with renewable energy features will be drawn to the immediate value and long-term savings that a solar-equipped home provides.


It's important to note that the exact value increase can vary depending on factors such as the size of the solar system, the local real estate market, and the overall condition of the home. However, the consensus among industry experts is clear: investing in solar panels is an excellent way to boost your home's value and appeal to environmentally conscious, financially savvy buyers.


If you're considering going solar, I encourage you to reach out to our team at Bracket. We'll not only help you design and install the optimal solar system for your home, but we'll also provide guidance on maximizing the long-term value of your investment. Together, we can unlock the full potential of your property and contribute to a cleaner, more sustainable future.

Oct 24, 2024

3 min read

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