How Solar Panels Affect Your Home Value

By September 15, 2020Blog
How Solar Panels Affect Your Home Value

If you own a home, chances are you already have a list of home improvements and upgrades you’d like to accomplish at some point down the road. Solar panels may or may not be on that list of yours, but it definitely should be. Whether you’re looking to cut down on your electric bills or make a positive impact on the environment, there are many ways solar panels can benefit your home. Keep reading to find out how solar panels affect your home value.

It’s an Upgrade To Your Home

Choosing to invest in solar panels for your home is much like making any other upgrade. When you renovate your bathroom, basement, or kitchen, you’re thinking of not only your own use but also the added value to your home. Similarly, solar panels are an upgrade that truly adds value in the long run.

It Increases Its Value

Adding solar panels to your home is a great option if you plan to sell your home any time in the foreseeable future. According to a study conducted by Zillow, homes with solar panels sell for more. Here in the state of New York, homes with solar panels sell for 5.4% more than those without them. That’s an almost $24,000 increase in value for the average home cost. Residential solar power is a great investment to increase the value of your home.

It Attracts More Buyers

Another way that your home’s value can benefit from solar panels is that it will attract more buyers. The moment you start thinking about putting your home for sale, you can’t help but wonder how many buyers you will attract. The reality is buyers gravitate to homes that resonate with their own lifestyles. Buyers who are concerned with the environment will see a home with solar panels as an environmental investment, while buyers who know how expensive electricity can get will see it as a financial one.

Owning a home comes with a great number of responsibilities. Ultimately, you want the best for your home. After reading how solar panels affect your home value, give us a call for a free solar evaluation. We’ll be happy to help you determine if solar panels are right for you and your home.