Will Solar Panels Increase the Value of My Home?
- Jacob Foster
- Mar 10, 2021
- 6 min read
Will Solar Panels Increase the Value of My Home?
The real estate market is going crazy right now and homes are selling for top dollar. But what if we told you that homes with solar panels are fetching even more? It turns out putting solar panels on your home increases the resale value.
How Much Can Solar Panels Increase the Value of My Home?
A 2019 study published by real estate website Zillow determined that solar panels raise a home’s value by 4.1% across the United States. On a $300,000 home that is $12,300!
The National Bureau of Economic Research came up with a similar number, estimating that home buyers pay an extra 4% premium for homes with solar systems.
In certain markets, that number was even higher. CNBC reports these are the top 10 states with the highest premiums for solar:
New Jersey: 9.9% or $32,281 for the median-valued home.
Pennsylvania: 4.9% or $8,589 for the median-valued home.
North Carolina: 4.8% or $8,996 for the median-valued home.
Louisiana: 4.9% or $7,037 for the median-valued home.
Washington: 4.1% or $15,916 for the median-valued home.
Florida: 4% $9,454 for the median-valued home.
Hawaii: 4% or $24,526 for the median-valued home.
Maryland: 3.8% or $10,976 for the median-valued home.
New York: 3.6% or $10,981 for the median-valued home.
South Carolina: 3.5% or $5,866 for the median-valued home.
There was not a single market in the study that found a decline in home values.
But wait, there’s more! Experts at the Department of Energy’s Lawrence Berkeley National Laboratory surveyed six states in 2013 and found that home buyers were willing to pay a premium of about $15,000 for homes with solar arrays. The study also noted that homes with solar panels sold faster.
An earlier study by Ruth Johnson and David Kaserman in The Appraisal Journal posits that home values increased about $20 for every dollar saved on annual energy costs.
When Solar Panels Might Not Increase Home Value
There are a few factors to consider if you are a home buyer or seller, however:
Older panels are less efficient, contribute less to the home’s electrical use and are worth less than newer systems.
Leased solar panels require the potential new owner to take over the lease. This isn’t a huge issue, however, as Berkeley Labs found that 77% of solar leases in California are transferred and only 20% of buyers are scared off by solar leases.
If you are unable to transfer the solar panel lease to the new owner, you will have to pay off that lease before finalizing the home sale.
If you have financed your solar system, you will need to pay off that system before you sell your home.
Not all states have net metering, where the excess energy you produce is exported back to the grid and a credit is given for that power. Arizona practices “net billing” which is a slightly different way to determine the value of the electricity sent back to the grid.
Tax credits only apply to new solar systems, not existing solar systems.
Keep Your Solar Panel Records
While we have determined that solar panels can increase the value of your home, it is best to keep records to insure you get maximum value. Being able to prove the age of your system will help. Showing the system was installed by a reputable provider like Fusion Power will go a long way. Having maintenance records and proof of warranty will help, too. It will also be an immense help to buyers to show how much money they can save on electricity every month, so make sure to keep your electric bills. Are you interested in learning how solar can save money on power bills and increase the value of your home? Give Fusion Power a call today at 480-676-1433 or email us at contact@fusionpowerco.com. situs togeltoto slotrtp slotsitus totobo togelsitus totositus totositus togelbo togelpam4dsitus togeltoto togelsitus togelsitus togelbento4dsitus togelbento4dsitus togelpam4dsitus totopam4ddaftar pam4ddaftar pam4dlogin bento4dcerutu4dcerutu4dcerutu4dsitus totositus togelsitus totositus totositus togelsitus totositus totositus togelsitus togeltoto togelsitus totositus togelsitus togel resmitoto slotsitus totositus togelsitus totositus togelsitus totositus totositus togelsitus toto slotcerutu4dsitus totocerutu4dsitus totogimbal 4ddaftar gimbal4dgimbal4dtoto slotsitus totositus totototo slotsitus totositus totototo togeltoto slotsitus togellive casinototo slottoto togelbandar togelsitus totositus totositus togelsitus totositus totobakautotositus bandar togelbakautoto situs resmi toto togelbakautoto situs toto togel terpercaya 2024monperatotomonperatotomonperatotomonperatotomonperatotomonperatotositus togelsitus totositus totositus totositus totobo toto pulsabo totobo toto pulsabo togelbo togelbo togelbo togelcerutu4dbo togelbo totositus togelsitus togelsitus totositus totositus togelbakautotositus togelbakautotositus togelsitus totositus togelbo togelsitus togelbandar toto macautogel pulsabo togelDaftar Situs Totositus totositus totositus totositus totositus totositus togelsitus togelsitus totositus tototogelsitus totositus lotre
situs totobento4dbento4dsitus totojacktotositus totositus totopam4dbo togelsitus totositus totositus totobo togelbandar togelsitus togeljacktotomonperatotomonperatotomonperatotomonperatotomonperatotodata macauslot gacor hari inisitus totositus totositus tototogel onlinebandar togel onlinebandar toto macaubandar togelbo togelsitus togelsitus totobo togelsitus totobo togelbet togelsitus totojacktotobo togelsitus togelsitus togelsitus togelsitus togelbo togelsitus totorimbabolaagen toto togelsitus togelsitus togelsitus totositus togelsitus togelsitus togel onlinesitus totobo totositus totobandar toto macausitus totositus toto macautogel danasitus togeltogel pulsasitus tototogelsitus togel onlinesitus totocabe4dmonperatotomonperatotomonperatotomonperatotomonperatotodata macaumonperatotoslot gacor hari inisitus totositus totototo togelsitus totolink togelrimbabolasitus totositus toto togelslot gacorbento4dtogel pulsasitus totositus totositus totositus totositus totobento4dbo totocabe4dbo totojacktotositus totositus deposit pulsacerutu4dcerutu4drimbabolasitus toto macausitus toto macausitus togel onlinesitus totositus togel terpercayasitus totortpsitus togelsitus togelsitus totositus togelbandar togelsitus togeljacktotositus totositus totositus slot gacorsitus togelsitus togelbo togelsitus togelsitus totositus totositus totositus totositus togelbo togelbakautotobo togelbakautotobet togelsitus togelsitus togel onlinesitus totobo togelbandar togelsitus togelsitus totobo togelrimbabolasitus togelbo togelsitus tototogel onlinesitus totobandar togelbo togelbandar totomacaubo toto pulsacerutu4dsitus togelsitus togelsitus togelsitus totositus totositus totolink togeltogel onlinesitus togelsitus togel4dbo togel terpercayasitus totositus totopam4dbakautotositus togelsitus togelbo togelbo totositus totobo totositus bandar togelsitus totositus togelbo togelbandar togel resmi10 situs togel terpercayacerutu4dsitus togelsitus toto togelsitus togelbo togelagen togelsitus togelsitus togelsitus totositus totositus totobo togelcabe4dsitus totositus totositus togelsitus togelsitus togelsitus totocabe4dsitus totobandar togelsitus totocabe4dsitus totoPAM4DPAM4DPAM4DrimbabolaPAM4Dgimbal4dsitus totohttps://iaida.ac.id/bandarhttps://ak.poliupg.ac.id/ngacor/agen togelcabe4dcabe4dbandar togelcabe4dsitus togelsitus slotpam4dsitus togelagen totositus togelbo togelhttps://disdukcapil.salatiga.go.id/ngacor/situs togelbo totositus totositus totobandar toto macausitus totositus totocabe4dsitus togelsitus togeljacktotopam4dsitus togelsitus totositus totobandar togelbandar togelsitus totositus togelpam4dsitus totobandar togelbandar togelsitus totositus totositus totocabe4dsitus togelsitus togelsitus totositus slot gacorsitus totositus togelsitus togelsitus totositus toto slotbo togelsitus totositus totobandar toto macaurtp livesitus togelsitus togelsitus togel resmisitus totototo macau 4dtoto togelsitus tototogel terpercayabandar toto macauslot gacortoto slotidn slotslot hokitoto slotslot bet 200https://caselledental.com/situs togelsitus totositus togelsitus togelsitus totobandar togelsitus togelsitus totocerutu4dbandar togelsitus totojacktotositus togelcerutu4dcerutu4dcerutu4dsitus togelsitus togelsitus totositus totositus togelsitus togelcerutu 4dcerutu 4dcerutu 4dsitus totobandar togelsitus totositus totositus totocerutu 4dsitus totositus togelsitus togeltoto togelsitus totositus togelsitus togeltoto togelbo totositus totositus togel terpercayasitus togel resmicerutu 4dsitus totositus totobo tototogel resmitogel terpercayasitus totobo totojacktotojacktotobandar togelsitus togel
