Research finds installing solar panels on your home could increase its value

Aug 5

Jack Aylmer Energy Correspondent

By Jack Aylmer (Energy Correspondent), Zachary Hill (Video Editor), Mohammed Ali (Graphics)

Homeowners looking to increase the value of their properties may want to consider installing solar panels. According to data from Solar Reviews, a platform that helps consumers compare solar companies across the U.S., houses with solar panels tend to sell for 7% more than those without.

For example, a home valued at $450,000 could see a price increase of about $31,500 with the addition of solar panels. Given that the average cost of installing a residential solar system is around $19,000, this potential increase in home value could not only cover the installation costs but also provide the homeowner with an additional profit of $12,500.

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Research also suggests that homes equipped with solar technology not only sell for higher prices but also tend to sell faster. According to Rocket Homes, properties with solar panels spend about 13% less time on the market compared to homes without them. This trend could be linked to the growing attention and interest these energy-efficient features bring to property listings.

Supporting this, a survey by the National Association of Realtors found that nearly two-thirds of real estate agents observed increased interest from buyers in homes that offer energy-efficient features, such as solar panels. This sentiment is echoed by a Davidson Homes poll, which reported that 50% of homebuyers consider energy efficiency to be the most important feature when purchasing a home.

Tags: Affordable housing, Economy, Energy, Housing Market, Renewable energy, solar power

[JACK AYLMER]

INSTALLING SOLAR PANELS ON YOUR HOME, MIGHT ACTUALLY INCREASE ITS VALUE.

THAT’S ACCORDING TO SOLAR REVIEWS-

A WEBSITE THAT HELPS CONSUMERS COMPARE THE QUALITY OF SOLAR COMPANIES THROUGHOUT THE U.S.

THEY FOUND THAT HOMEOWNERS WHO PURCHASE SOLAR PANELS END UP SELLING THEIR PROPERTIES FOR SEVEN PERCENT MORE.

TAKE A 450 THOUSAND DOLLAR HOUSE FOR EXAMPLE.

ADDING SOLAR PANELS COULD MEAN A JUMP IN VALUE OF 31-AND-A-HALF THOUSAND DOLLARS.

FACTOR IN THE 19-thousand DOLLAR AVERAGE COST OF INSTALLATION FOR A RESIDENTIAL SOLAR SYSTEM-

AND THEY COULD HYPOTHETICALLY PAY FOR THEMSELVES, WHILE NETTING THE HOMEOWNER A TWELVE AND HALF THOUSAND DOLLAR PROFIT.

OTHER RESEARCH SUGGESTS THAT HAVING SOLAR TECH NOT ONLY HELPS HOUSES SELL FOR MORE, BUT ALSO FASTER.

ROCKET HOMES SAYS HOMES WITH SOLAR PANELS SPENT ABOUT 13 PERCENT LESS TIME ON THE MARKET THAN THOSE WITHOUT.

IT’S A TREND THAT SEEMS TO BE GAINING TRACTION.

A NATIONAL ASSOCIATION OF REALTORS SURVEY FOUND THAT ALMOST TWO-THIRDS OF REAL ESTATE AGENTS NOTICED GREATER INTEREST FROM BUYERS IN HOMES FEATURING ENERGY-EFFICIENT FEATURES LIKE SOLAR PANELS.

THAT DATA WAS BACKED UP BY A DAVIDSON HOMES POLL THAT REPORTED 50 PERCENT OF HOMEBUYERS VIEW ENERGY EFFICIENCY AS A HOUSE’S MOST IMPORTANT FEATURE.

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