Increased Home Value With Solar
Recently, Ben Perry, Solar Energy Solutions’ Territory Manager in Central and Eastern Kentucky areas was asked about installing solar and the potential increase in home resale value. Ben decided to take a look around and see what resources he could pass on that would be helpful.
“Some people worry that they may not be in their home long enough to see a sufficient return on investment, but when you consider the instant equity the average home gains upon installation of a solar system, it can cut the payback time in half or more”, Ben explained.
Of course things will vary from area to area so no amount is guaranteed, but studies involving tens of thousands of homes consistently show that even small to medium size solar systems add 3-4% ($15K per US Department of Energy) on average to the selling price of the home.
See the links below to multiple studies and articles on increased sale prices for solar homes.
If you’re interested in finding out if solar is right for your home. Talk with a consultant and get a custom quote for your home.
Home value links:
Homes With Solar Panels Sell for 4.1% More – Zillow
Selling Into The Sun:Price Premium Analysis of a Multi-State Dataset of Solar Homes – Berkley Lab
Solar panels increase property values – EnergySage
Econ 101: Solar panels increase home values – cnet