Do Solar Panels Add Value to a Home?
By now, you’re probably aware that solar panels can significantly reduce or even eliminate the monthly energy costs at your home. This fact, combined with price decreases for solar technology, federal and state tax credits, and affordable financing options, can make solar panels an excellent investment. However, there is one often-overlooked benefit to solar panel installation – the value it can add to your home.
How Much Do Solar Panels Increase Home Value?
It isn’t easy, or perhaps even possible, to determine exactly how much solar panel installation will increase the value of your home. There are simply too many factors to consider, including the location of your home and your solar panel system’s:
However, you can certainly expect that having solar panels on your home will increase value and make your property more desirable to potential buyers. According to a recent analysis by Zillow of homes across the country, solar panels increased sale price by 4.1%. Another study from the National Renewable Energy Laboratory stated that for every $1 in energy savings a solar panel system provides, it increases a home’s value by $20.
Although price increases vary widely, any boost to home value can be seen as a significant return on investment for homeowners, as they’ll have already enjoyed years of savings on energy costs.
Maximize Your Return on Investment
The key to making the most of your investment in solar energy is having a high-performance solar panel system expertly installed. This is exactly what Energy Consultants Group is known for. In fact, we are Iowa’s premier solar provider, offering products from industry-leading manufacturers, such as LG and Panasonic, that provide best-in-class energy production. And, we perform certified site assessments to ensure that the system we design and install provides maximum value. Contact us today to learn more about our services.