As solar panel technology improves and becomes more popular, many homeowners are wondering if installing solar panels will increase the value of their homes. While there is no clear answer, there are a few things to consider when making your decision. Here we will explore the pros and cons of having solar panels installed on your home and what factors may affect its value.

Buyers Will Appreciate Solar’s Value

As a solar panel owner, you may be wondering why buyers are interested in this type of property. One of the most significant advantages they provide is the reduced energy expenses, and they also are good for the planet by eliminating harmful emissions. Anyone who might be interested in buying a home with solar panels knows they’ll be thinking about the long-term value it provides. When it comes to solar panels, they are viewed as an upgrade to the house, much like installing new countertops or renovating your kitchen.

Of course, installing solar panels comes with an upfront investment, but you’ll more than make that back with everything it provides. Of course, saving money every month on your electricity bill is the first incentive you’ll get. However, did you know owning solar panels qualifies you for tax incentives? Essentially, installing solar panels on your property is an instant way to enhance your property value. As more people across the country make the switch to solar, it’s a notable selling point for any house. A recent study in 2019 by Zillow confirms that solar panels increased property values by 4.1% across the U.S.

Benefits Of Owning A Home With Solar Panels

Owning a solar-powered property is advantageous not only for your wallet, but you’re making an excellent decision to help the planet. However, just like any other important feature of your home, such as the roof, you’ll want to ensure it is well-maintained and inspected by a professional at least annually. Having an expert evaluate your property beforehand is always the best practice to ensure you get the best return possible on your investment. Other benefits of owning solar panels include the following:

• Solar panels provide aesthetic value on your property, which entices buyers.
• A solar PV system is built to last, working optimally for at least 25 years or more. As a result, you won’t have to worry about expensive repairs, keeping in mind you’re getting regular inspections every year.

Factors That Impact Home Value With Solar Panels

There isn’t a “once size fits all” answer when it comes to knowing an exact estimate of how solar panels affect property value. Some primary things that will affect value include the state you reside in, electricity costs in your region, the solar panel size, and the age of your solar panel unit. These are factors to think about when you’re getting an assessment of your property value with the solar panel installation. Our professionals will determine if your roof gets enough sun exposure and then calculate the cost of installation and maintenance. We can decide if solar panels are the right choice for your home roof, or if ground-mounted solar panels would be more beneficial. 

Understanding The Future Of Solar Energy

Especially in a competitive real estate market, more sellers are looking for ways to have an advantage when listing their homes for sale. Studies have shown that nearly 2/3 of people find solar energy to be desirable on a property. One of the best things we haven’t mentioned yet either is the fact that solar panels are a single project. Unlike roofs, for example, that need to be replaced every 10-15 years, you can expect this investment to be around for the long haul.

Solar Panels Help Homeowners Save Money

Did you know that you can save anywhere between 10,000-30,000 dollars from your electricity bill within the first two decades of owning solar panels? This range differs depending on where you live, how much energy you use, and the size of the house. However, as you can see, with numbers like this, it’s no wonder why solar panels are an excellent home improvement project.

The Bottom Line: Solar Panels Increase Property Value

 Solar panels are becoming an increasingly popular home improvement. They not only increase the property value of your home, but they also reduce energy costs and last a long time. If you’re interested in installing solar panels on your home, contact Midwest Solar Installers for an estimate. We would love to help you make the switch to solar and start saving money today!