How Solar Panels Impact Home Value
Homeowners nationwide are turning to solar energy for its environmental benefits and ability to increase property value. With rising power costs and a growing awareness of energy efficiency, solar-powered homes have become highly desirable in the real estate market. So, how much can solar increase your home’s value?
According to Zillow, homes with solar panels typically sell for about 4.1% more than comparable properties without solar. This can add roughly $9,000 or more to a home’s sale price, depending on factors like location and home type (Zillow Guide on Solar and Home Value). Furthermore, research from the Lawrence Berkeley National Laboratory found that homebuyers are willing to pay a premium for properties with solar energy systems. Their study indicates that for each kilowatt (kW) of solar installed, home values increase by an average of $5,911, providing a substantial return on investment while reducing long-term energy costs.
Rising Energy Costs Make Solar Homes More Valuable
The value of solar panels is closely tied to electricity prices. As utility rates continue to rise, homes with solar panel installations become even more desirable. Buyers recognize the advantage of securing long-term energy savings and added protection against unpredictable rate hikes, making solar-powered homes a smart real estate investment.
The Financial Benefits of Solar Power
Beyond increasing home value, installing solar panels provides homeowners significant long-term savings. By reducing reliance on traditional utility companies, solar power allows homeowners to lock in lower electricity costs and save money over the lifespan of their system. These savings benefit the current homeowner and make the property more attractive to potential buyers looking for sustainable and cost-efficient homes.
Maximizing Home Value with Solar Appraisals
When selling a home with an installed solar system, professional appraisers may factor in the system’s size, efficiency, and energy savings when determining the property’s value. These solar-related adjustments consistently lead to higher home valuations and stronger asking prices, making solar-powered homes even more attractive in today’s market. Additionally, partnering with a solar-certified realtor can streamline the sales process. These professionals excel at managing expectations and generating homebuyer interest in solar energy.
Find out how Everlight Solar can help you take advantage of solar energy’s real estate benefits. If you’re a homeowner looking to speed up the selling process, contact one of our trusted solar-certified realtors.
Contact our team for expert guidance on installation, valuation, and selling your solar-powered home.
