Investing in solar panels not only reduces your electricity bills—it can also boost your home’s market value. But just how much value do solar panels add? And what should homeowners know when it comes to selling a home with solar?
Let’s break it down.
Solar Panels Generally Increase Home Value
Multiple studies, including from the National Renewable Energy Laboratory (NREL) and Zillow, have found that homes with solar panels sell for more than comparable homes without them. The exact increase varies depending on location, system size, and age, but the trend is clear: solar is an attractive feature for buyers.
Why Do Solar Panels Add Value?
- Lower Utility Bills: Buyers appreciate the savings from reduced electricity costs.
- Energy Independence: Solar panels reduce reliance on the grid, which appeals to environmentally conscious buyers.
- Tax Incentives Transfer: In some cases, remaining incentives or warranties can be a selling point.
- Modern Appeal: Solar panels add to a home’s “green” credentials and curb appeal.
What About Solar Leases or PPAs?
If your solar system is leased or under a power purchase agreement (PPA), the situation is different. Some buyers may be wary of taking over lease contracts, which could complicate the sale. It’s important to disclose any agreements upfront.
Tips for Homeowners Selling a Home with Solar
- Keep Documentation: Maintain records of system installation, warranties, and maintenance.
- Highlight Savings: Show potential buyers how much they can save on energy.
- Work with Experienced Realtors: Choose agents familiar with solar-equipped homes.
- Understand Local Market: Solar’s value can vary by region, so get a local appraisal.
Aicon Solar: Helping You Get the Most from Your Solar Investment
Whether you’re buying, selling, or just curious about solar’s impact on home value, Aicon Solar can guide you. Contact us to learn more about solar benefits in your neighborhood.