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Build Equity In Your Home With Solar Panels
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As with any new home improvement projects, they can increase your property value, and solar panel installation is no different. Potential home buyers and appraisers know that solar panels increase your home’s value on the real estate market.
While numbers vary between each installation and property, recent studies show an average increase in resale value between $4,020 and $5,911 for each 1 kilowatt of solar panels installed.
Even a small 5 kilowatt solar panel installation would add an average of $20,100 to the market value of a small to mid-sized U.S. home. That’s an appreciable amount that homebuyers are willing to pay. And, a solar home’s selling price is typically much higher or more than comparable properties without solar.
The U.S. Department of Energy conducted the largest-ever study of solar homes to determine how the addition of solar panels impacts home buyers. It discovered that buyers s were willing to pay more for homes with solar panels than comparable homes without them.
This added value allows sellers and real estate agents to increase the asking price for a home. Buyers benefit from an energy-efficient home, and sellers can profit from an increased resale value.
Stop giving away money to your electrical company with no return and start using your money wisely by building an asset within your home.
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