Solar Increases Home Value, Key points:
- Solar panels can increase your home’s value and lower an electricity bill
- Zillow found in 2019 that solar panels add 4.1% on average to a home’s resale value
- When we interview solar homeowners, we find that investing in resale value was a key consideration when they chose to go solar
Zillow + Solar Findings
In 2019 Zillow published a report stating that homes with solar energy systems sold for 4/1% more than comparable homes without a solar system during that year.
The percentage varies when you focus on different cities across the U.S., but on average, in the United States, homes with solar sold for 4.1% more than comparable homes without solar. According to Zillow, this means solar increases home value by $9,274 for the median-valued home in the U.S.
Why? Homes with solar energy systems can provide sizeable future energy cost savings. As energy prices go up and energy consumption increases in a home (a growing family is one example), buyers understand the value. They are willing to spend a little more money upfront.
Personal preferences play a role too. Homebuyers are increasingly energy conscious – for environmental and financial reasons alike.
People go solar with resale value in mind
When we interview our customers, we find that investing in resale value was a key factor when they chose to go solar.
Some of our customers are not sure that they will be in their home for the 30+ lifespan of the solar energy system. Therefore, they need to consider the benefit of the investment translated into home value.
Changing mindsets of solar power homeowners
In recent years the motivations for going solar among homeowners has widened quite a bit.
Those seeking energy savings and control are now right up there with the environmentally motivated.
As our current utility infrastructure ages, it becomes more and more expensive to maintain. Those costs are passed along to ratepayers. Over time, these rates have proven to be costly and unpredictable.
Control is another significant aspect of choosing your energy supply. Knowing how much you’re going to pay every month is increasingly essential. If you’re on a budget or fixed income, this predictability is critical.
Buyers know that stands out. The increasing awareness of the value of solar energy works in favor of the seller. Solar energy systems help a home stand out in a crowded market. If your home can save the buyers $200 per month in electricity bills – that’s $2,400 in the first year alone. That’s not something the majority of sellers can offer.
We work with our client’s buyers all the time
When a home is solar with a Third Sun Solar energy system, we work with the new homeowner to switch accounts and complete all necessary permitting and paperwork. It’s part of our white glove customer service.
If you’re considering solar and contemplating a future move, we recommend you do it. Between taking advantage of decreasing incentives, immediate energy savings, lowering your carbon footprint, and increasing the value of your home, there has never been a better time.
Will your solar-powered home help you stand out to the homebuyers of the future? We think it will.
Now that you understand how solar increases a home’s value, Sign up for a Free Solar Evaluation for your home today!