How Much Value Does Installing Solar Panels Add to Your Home?

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While solar power isn’t in a position to replace fossil fuels just yet, it’s not a fringe experiment anymore. There are over 3 million solar panel systems in place in the U.S.

There are several advantages of solar panels for homes. Yet, one of the most intriguing advantages for homeowners is that solar panels add value to your home, at least potentially.

For anyone considering a home sale in the next five years, a home price boost can look very inviting. If you’re trying to decide whether installing solar panels will benefit you and add value to your home, keep reading for our quick guide. 

Solar Panel Installation

The prospect of a boost in home value can pique interest. That doesn’t necessarily prepare you for what to expect if you decide that you should install solar panels.

The process is relatively straightforward. A solar installation company will visit your home and do an evaluation of your roof. If your roof needs reinforcement, the company may provide that service or refer you to a general contractor.

Once the roof is ready, the company will send out a team for actual solar installation. This typically takes a few days, but the work almost all happens outside.

After they install the panels and electrical hookups, they’ll either connect you with the local grid or flip the switch to start charging on-site batteries.

For more on the process: visit this page.

Benefits of Solar Panels

Solar panels offer several key benefits beyond adding value to your home. A solar panels system will help reduce or even eliminate your electricity costs, depending on your location.

Solar panels reduce your total carbon footprint by reducing dependence on fossil fuel sources.

You can also see some tax benefits and incentives from installing a solar system on your home. The programs vary, but most states offer some kind of incentive. The federal government will also let you write off a portion of the installation costs on your tax return, although that benefit may soon disappear.

Value Addition to Home

There is no question that solar panels boost your home’s value, but the amount will vary. The national average increase is around 4 percent of your home’s value.

A more practical way to measure is that your home’s value will go up about $20 for every dollar you save on energy costs. Of course, that will depend a lot on the size of the system and the efficiency of the panels you select. The best solar panels will save you more and push up the value more.

Is Installing Solar Panels Right for Me?

Installing solar panels is a choice with more than one facet. Yes, you will see a boost in your home’s value, although the exact amount will vary based on location, system size, and panel type.

For most homeowners, it’s about more than adding value to their homes. They also want a way that they can save money on energy costs and do something positive for the environment.

Looking for more home improvement ideas? Check out the posts over in our blog section.

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