How Will Adding Solar Panels Increase My Home Value

Tanner halbig at a meeting i heard a representative of a large well known company tout how homeowners could get free electricity.

How will adding solar panels increase my home value.

If you install a solar panel system through a lease or ppa you are essentially renting it from the third party owner. Whether you re considering solar energy for your home or already have it it s worth learning what makes it so valuable to homebuyers and how solar panels can increase your home s value. The professional estate agents body is naea propertymark its chief executive mark hayward explained that solar panels are unlikely to feature in the valuation models of estate agents or mortgage providers. Solar panels are one of those tricky things we all like to believe increase the value of a home.

The aesthetics of panels have greatly improved over the last few years with black low profile mounting systems. After all they save homeowners a ton of money right. Installing solar panels on your home can reduce your energy bills and potentially add to your home value. 3 minutes installing solar panels can significantly increase your property s value according to a new study from the lawrence berkeley national lab lbl.

Home saw a 4 1 gain in value that boost varies from place to place. Why is solar energy so valuable. The study controlled for the home s attributes like bedrooms bathrooms square footage age and location to determine an area s solar panel boost. While the average u s.

The report titled selling into the sun. This means that a standard 5kw system could increase your home s value by as much as 20 000. Do solar panels increase home value everywhere. Energy efficiency is great for the planet and your wallet.

Installing solar panels on your home can increase its value but only if you own the system. But according to a nationwide study by the us department of energy s lawrence berkeley national laboratory resale values increase an average of 4 for each additional solar watt installed. Estate agents feedback suggests that installing solar panels will not increase the value of your home when you come to sell it. It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels.

My first call was to solar expert tom harrington of solnetic solar who dispelled my bulky panel thought immediately. Since you don t own the system it cannot be included in assessments of your home s value. Solar panels are sleeker thinner and more efficient than they were only three years ago harrington.