Does Solar Increase Home Value

Many people are asking, “does solar increase home value?” It depends on how much you spend and when you plan on selling.

You will not see a return on your solar investment if you plan on selling within the next several years. You can enjoy monthly energy savings, increasing your home’s appeal. If you were to appraise your home without solar panels and add the cost spent buying the solar panel system, the house market value would be less than the total in the short run.

You will see a return on your investment if you plan on staying in the property for ten or more years. Each year the energy savings applied against how much you spent move toward a balanced investment.

For example, if you spend $20,000 on a whole-house solar solution, it would pay off within 11 years if you calculate a $150 monthly electric bill savings.

Another savings that you can benefit from is a tax deduction. Solar panels are an energy-saving home improvement credit.

Finally, the biggest reason homeowners invest in solar for the house is for emergencies. If you couple the solar panels with a whole-house generator, you’ll be much better off than most people when it comes to maintaining electricity when the power goes off. This is the primary reason people end up saying yes to solar panels. Having a backup system ready is worth it, especially if you work out of the home.