Did you know there are now enough solar panels in the United States to power 18.9 million homes? Despite the prevalence of solar systems, many individuals are still on the fence about investing in solar power.
A lot of the hesitation comes from whether or not solar represents a good investment. So, do solar panels increase home value? Or do they hurt the resale value? If you want to learn the answer to this question and more, then you’re in the right place.
In this article, we’ll provide you with everything you need to know about solar panels and resale value. Let’s get started!
Do Solar Panels Increase Home Value?
The answer is yes, solar panels do increase home value. Some estimates put it at around $6,000 in added value for each kilowatt of solar panels installed.
Another, more general estimate is around a 4.1% increase in home value. However, it’s important to note that there is an upfront investment cost to consider. And, the more time your solar system is around the less effective it will be. As such, the value will decrease over time.
Factors That Determine the Amount of Value Added
As we mentioned, the older your system the less value it will add to your home. However, this isn’t the only factor that determines value. Another is the geographic location of the home.
Certain areas provide more favorable conditions for solar power. As such, panels in these areas are worth more. The size of your system also plays a major role. Bigger systems add more value.
Finally, the price of installation in your area is also important. If a buyer can save money on a system by buying it used from you, then there’s more value-added.
How Do You Find a Good Solar Installer?
If you’re serious about adding solar value to your home, then you must find a good supplier. This will ensure that you get quality solar panels. And, more importantly, it will make sure that they’re installed correctly.
So, how do you find a good solar installer? A quick Google search containing ‘solar installers near me’ should bring up some good options.
Just make sure you check them out first by reading the reviews and contacting them. This will give you a good idea of their experience and the average customer’s experience with them.
Want More Content? Keep Reading
We hope this article helped you answer the question, Do solar panels help increase home value? As you can see, solar panels almost always increase the value of your home. However, the extent that they do depends on a variety of factors.
As such, if you want to take back all the money that you invest in a system, then you should do some research to see whether or not it’s feasible.
Did you enjoy this article? If the answer is yes, then you’re in the right place. Keep exploring to find more topics that you’re sure to love.