How Much Does Solar Add to Home Value?

Solar to Add to Home Value

If you’re planning on selling your home at any point in the future, it’s good to start thinking about what may increase its value. Investing in solar power is a solid move for the future. Many people are now looking for more eco-friendly properties that can save them money.

Solar will both save you money and add value to your home. How much does solar add to home value? Read on to find everything you need to know.

Does Solar Increase Home Value?

The answer, simply put, is yes. On average, the value of your home could increase by up to $5,000 per kilowatt of solar panels. For many middle-sized homes, that’s around a 4% increase in value.

Additionally, buyers are looking for homes that already have solar panels installed. They want to know that they can save money on their energy bills once they’ve moved in. Generally, most homeowners get back what they paid for solar panel installation in the purchase price of their home.

What Will I Save?

Investing in solar panels will undoubtedly save you money in the long run. Along with paying lower energy bills, it’s also worth checking your state rules on tax credits. For example, in Kansas, there are federal tax credits and other local incentives to make solar panels even more appealing for homeowners.

Exactly how much you’ll save will depend on a few different factors. For example, your region, the price of your electricity, the price of your installation, and the age of your solar panels’ system, to name a few. However, you will always save money.

Help Your Home Sell Faster

The housing market indicates that a solar-powered home will sell much faster than a home without solar power. In fact, solar-powered homes sell up to 20% quicker than other homes right now. Buyers interested in purchasing homes they want to stay in for the foreseeable future want them to be eco-friendly.

So, if you’re planning to sell now or in the near future, it’s important to become as eco-friendly as you can to attract buyers who are looking for longevity. 

Your Solar Panels

If you’re looking to purchase solar panels from a local solar company, you may have a few choices ahead of you. If you want to sell your property, it’s smarter to buy panels than rent them. Similarly, the newer your solar panel system is, the more efficient it will be and the more appealing it will be to potential buyers.

How Much Does Solar Add to Home Value: The Truth

When you want to know how much does solar add to home value, the truth is most of us will need to begin utilizing solar energy in the near future. By installing solar panels, you’ll be one step ahead of the curve.

For more information and advice on home and saving money, take a browse through the rest of our articles.

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