Did you know that the average cost of solar panels has dropped by 70% in the last 15 years? As the cost of installation and support of solar panels drops, more and more people are choosing it as their primary source of power.
But how does this affect homeowners looking to improve home value? And what are the benefits of solar energy for your home?
To learn the answers to these questions and more, read on for compelling reasons why you should invest in solar power today.
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Do Solar Panels Increase Home Value?
On average, solar panels will increase the value of a home. In broad terms, the increase is on average around 4%, although this is unevenly distributed among different states.
New York saw the greatest increase with an over 5% increase in home value on average. Other states that saw an increase in home improvement value were Florida and North Carolina.
While it is true that home values did not rise equally in every location, no metropolitan area saw a loss. This gives further evidence that you can generally increase home value with solar power installations.
Completed Installation
One major factor in ensuring that solar power installations will increase the value of your home is the completeness of the installation and payment of its cost.
If a potential buyer could become the recipient of any part of the burden of paying for the installation of the solar energy installation, they will immediately decline your home.
In order to improve your home value, you should ensure that any installation is complete and paid for.
Other Factors
If you are interested in learning what home improvements add the most value, you should put solar near the top of your list. Simply check out any home improvement value calculator to prove this.
One reason that further supports this is that in general, the more extensive the solar installation, the greater the value that is added to your home.
Should you be able to meet your home’s entire electricity needs and gain energy credits by returning power to the grid, you are likely to be able to raise your house price more than a smaller system. If you’re intent on maximizing the resale value of your house by being an early adopter, consider installing an electric vehicle (EV) charger current into the home.
Another factor is home location and size. Larger houses that are self-supporting are more popular. This is likely because the overall saving on running the house is greater than for a small house.
Improve Home Value With Solar Power
Maintaining or increasing the value of your home is one of the most important parts of owning a property. If you are wondering whether solar panels will improve home value, now you know the answer.
You not only raise the value of your home but also contribute to a safer, healthier environment.
If you would like to read more about this and other subjects, then why not head on over to our blog page? We’ve got tons of great information, so make sure to check it out!
