Homeowner: did you know installing solar panels adds an average of $15,000 to the selling price of a home? Read on for all the numbers you need to know. The payoff in solar home resale value plus immediate savings on monthly energy costs can mean a great return on your green investment. The details of solar curb appeal are worth a look for anyone who is hoping to make a good profit on selling the house they live in.
Adding solar panels can boost your home’s price tag according to research by reliable, trustworthy sources like the U.S. Department of Energy. We’ve got the facts from their recent national study on market trends along with tips on some key installation details that can help guide you to your highest solar curb appeal. Learn to maximize your solar home resale value with upgrades that will appeal most to eco-conscious homebuyers.
- Solar Home Resale Value Study
- Maximize Your Solar Home Resale Value
- Boost Solar Curb Appeal With Green Upgrades
- Good Investment For Homebuyers
Solar Home Resale Value Study
The clearest look at solar home resale value comes from a recent study conducted with funding from the U.S. Department of Energy. The study collected data from home sales in six different states across the country. Homebuyers were willing to pay a premium in every region for properties that came equipped with working home solar power. The study’s methods of calculation also helped to specifically verify what another recent large-scale study out of the same laboratory showed earlier. You know the data is good when it is confirmed twice.
The ultimate takeaway? Homeowners will pay an average of $15,000 more for a house with a home solar power system.[1] Office of Energy Efficiency & Renewable Energy Earlier data suggests that solar curb appeal also helped properties sell faster than similar homes without clean energy. A faster sale for a higher price? That makes home solar a smarter investment than many other property upgrades.
Maximize Your Solar Home Resale Value
The average price premium of $15,000 was for homes that had typically-sized systems of about 3.6 Kilowatts. If your home is larger than average or has more intensive energy needs due to factors like extreme seasonal temperatures in your area, you will need to install a larger system to get your desired resale boost. The good news is that a solar power system may add even higher resale value for a home with greater energy needs.
Boost Solar Curb Appeal With Green Upgrades
To get the highest possible solar home resale value, it can be wise to look at the big picture of your property. Consider the overall wants and needs of homebuyers seeking clean energy. Many of them are eco-conscious and drawn to other green building trends. Energy-efficient systems and water-efficient appliances are likely to help your home stand out to the kind of buyers who are ready to pay top dollar for home solar. Landscaping the property with native plants or installing a grey water recycling system are bigger improvements, but when you put them together with solar panels you may get an even better return on your investment.
How Do I Join SREC Markets?
Any potential buyer will be most interested if you can help them see how a solar home makes financial sense. In addition to daily solar savings since they won’t be paying for traditional grid electricity, you can offer curious homebuyers additional financial incentive. By adding home solar you may also be able to offer future homeowners actual profit opportunities through selling SRECs. If you can show a track record of your own earnings from selling SRECs, you can help homebuyers see that income source as part of the solar curb appeal.
You can also boost homebuyer confidence in your property by making sure all your warranties for your solar installation are up to date and easily accessible. Since certain solar panel types can last up to 30 years, it is likely you will be selling your home within the life of the warranty. Smart homeowners will want to see all that paperwork before they bid on your property. Make it easy for them to offer top dollar with confidence.
To get the most profit on your solar home resale value, start by keeping your solar installation costs low. And to review your knowledge about the profit potential of home solar, take a quiz on Your Solar Investment.