Solar Energy Panels Increase Home Value

Not only can adding solar panels to a home save energy costs and help the environment it also can potentially increase a home s value.

Solar energy panels increase home value.

A recent study found that solar panels are viewed as upgrades just like a renovated kitchen or a finished basement and home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array. Do solar panel systems increase the value of your home. According to glink and tamkin while the investment in the solar panels might be great for you in the long term if you have to resell the home will a buyer consider the solar investment something that adds value to the home. The berkeley lab study says that each watt of installed solar capacity adds around 3 to a home s value.

During the past year homes with solar energy systems sold for 4 1 more on average than comparable homes without solar power. Find everything you need to know about solar panels and solar installation costs. Their impact on your home s value. For the median valued home that translates to an additional 9 274.

You might think that the bigger the solar energy system the more value it would add to your home. Installing solar panels in a home not only helps to reduce current monthly utility bills. Other factors that can affect solar panel home values age. One of those factors.

The answer to that question is. It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels. Many solar companies offer power leases and solar purchase power agreements. Lbl says that each watt of solar adds about 4 to a home s value in california and about 3 per watt elsewhere.

Early studies focused on established solar markets such as california found that home values increase by four percent or more when homes are equipped with solar panels. Buying a solar energy system will likely increase your home s value. Thus a home with solar should sell for about 4 x 5 000w 20 000 more in ca or still 3 x 5 000w 15 000 more outside of ca. Lawrence berkeley national laboratory a research laboratory affiliated with the department of energy continues to expand on that research as solar grows across the u s.

The national residential solar system average of 5 kilowatts kw generates 5 000 watts of power. On average solar panels raise a home s value by 4 1 across the u s according to a new zillow analysis of homes across the country that s a boost of 9 274 on a 226 300 home according to the study. Solar panel technology is changing at a rapid rate. A 5 kilowatt kw solar system the national average will offer 5 000 watts of power.