Do residential solar panels increase the value of a home? This is a question you may ask before installing a solar system. Fortunately, the answer is a resounding yes. As we explore in this article, solar panels can increase the value of your home, as well as how that increased value affects property taxes and whether or not buyers desire homes with solar energy systems. With this knowledge, you may be better positioned to decide if solar panels are a worthwhile investment for your home.
Keep reading for a full explanation of how solar panels can increase your home’s value. In addition, if you would like to consult with a professional and get started designing your system right away, you can click the buttons below to find one of the best installers in the country.
What Is Solar Power for the Home?
There are many benefits to installing solar power systems for homeowners, including lower electric bills, lower carbon footprints, and potentially higher home values. Although these benefits come with substantial installation and maintenance costs, the magnitude of the gains can vary significantly from one home to another.
The purpose of this article is to assist homeowners in determining whether solar power is a viable option for their homes.
- If you are interested in going green, you may want to consider installing solar panels.
- In addition to being good for the environment, solar power can earn you money by selling back excess energy to the grid.
- Establishing and maintaining solar panels can be pretty expensive, even though the cost has decreased over the past few years.
- Ideally, solar panels should be installed on homes that receive ample sunlight throughout the year.
- Understand the social and economic implications of solar energy before making a commitment
Are Buyers Looking for Homes with Solar Panels?
The appeal of a solar system to buyers in your community is also a factor to consider when figuring out how much solar panels will increase the value of your home. Geography, and specifically solar literacy, will have a bearing on this.
In short, buyers will be less likely to invest in a solar system if they don’t understand how solar panels work or how they can benefit from them. The data shows that, for the most part, homeowners are open to energy efficiency features.
In the Consumer Housing Trends Report, 80% of home buyers prioritise energy efficiency. According to data from the National Renewable Energy Laboratory, homes with solar panels sell 20% faster and for 17% more than those without.
You will save money on your bills.
Solar panels represent a significant yearly saving on your bills. The fact that this is a great benefit while you live in the property can also be part of a package that increases its value.
You may even be able to make money with your solar panels. You can sell excess electricity to the grid for profit if you generate more than you can store or use. If you can show potential buyers how solar energy saves them money on bills and makes them money, you’ll be in their favour — and it may help you fetch a higher price for the house.
Having solar panels installed on your property can increase its value and provide many other advantages. In addition, as society moves towards a more electric world, houses with solar capabilities make more sense; electrification is the general direction of travel as the world moves away from fossil fuels.
Our purpose was to help make this a reality.
You can significantly reduce the cost of solar panels by participating in Solar Together, a group-buying scheme. Together with local authorities, we group residents from across the country to give you a discount on PV systems.
So that you do not have to, we vet suppliers’ quality of service. In addition, we also offer optional add-ons like battery storage and EV charging points, as well as insurance-backed guarantees for customer protection.
Got questions? Call the team at DSolar on 1300 989 811 for tailored roof design advice and to get more help optimising your solar panel installation for maximum benefit.