Installing solar panels for homes is a significant
investment. These systems cost several thousand dollars and take years to
recover costs through energy savings because of their high price tag. If you
don’t plan to stay in your home for the entirety of your payback period, should
you forgo solar installation?
The answer is no! Studies of home sales indicate that
installing solar panels for homes can significantly increase resale value. If
you don’t recoup the cost of installation over the amount of time you remain in
the home, you will likely be able to recover a great deal thanks to a higher
selling price. This benefit can make installing solar panels for your home the
right choice even if you plan to move in the future.
Studies show that solar panels for homes increase the value
by 3 to 4 percent. The average home has a 5 kW solar energy system, which can increase
equity by about $9,000.00. Before you decide to install a solar panel system in
your home, think about how long you plan on staying and then energy savings
you’ll achieve during that time period. If you won’t be meeting the payback
period on energy savings alone, think about how the raised resale value will
benefit you come time to sell.
Not only are the systems a valuable addition to the home,
they also create value. Interested buyers can be attracted to homes with solar
panels because they present a higher potential for energy savings. Wouldn’t you
want to move into a new home that is going to help you save for all the years
you are living there?
Solar panels for homes are also attractive for buyers
looking to go green. Because they limit utility use, homes with solar panels
reduce pollution and greenhouse gases. Greening your home through solar panel
installation not only improves resale value, but can also attract another
market of buyers to your property.
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