Report: Solar panels increase home values by 4.1 percent nationally

Report: Solar panels increase home values by 4.1 percent nationally

Last Updated: June 10th, 2019 at 9:21 pm
Read Time: 3 Minutes

The financial and environmental benefits of installing solar energy at your home are tangible, which is what makes solar panel installation a no-brainer for many customers. Solar panels reduce power bills and carbon footprints, and both are big wins for customers. Beyond those integral savings, a growing amount of data shows that solar panels do one other thing too — increase the value of your home.

A recent report produced by real estate data company Zillow shows that homes with solar panels in the U.S. sell for 4.1 percent more than those without solar panels, per sales data pulled from March 1, 2018 and February, 28, 2019. That 4.1 percent equates to an average of $9,274 nationally.

Zillow’s report is affirmation of prior research done by the Lawrence Berkeley National Laboratory in 2015 that found that “home buyers consistently have been willing to pay more for a property with PV (solar panels) across a variety of states, housing and PV markets, and home types.” That study looked exclusively at PV systems that were owned, and not leased. That’s important to note, as POWERHOME sells the systems it installs.

Solar panels are seen as desirable by homebuyers because they see the potential of future savings on energy costs. Solar panel payments have an end date, but power bills go into perpetuity. Not only that, but power bills also rise over time as power companies raise their rates to cover rising costs. Those things are why POWERHOME Solar is fond of saying that going solar is a way of owning your power, not just continually renting it from the power company.

Why solar panels are a great investment

Beyond these benefits, solar energy is a great investment because of the potential to earn a 30 percent federal tax credit on newly-installed systems. That credit expires at the end of 2019 and will be replaced by a 26 percent credit in 2020 and a 22 percent mark in 2021 before disappearing altogether. There simply has never been a better time to go solar than now.

POWERHOME Solar would love to work with you for your next installation project. We’re the leading residential rooftop solar provider in seven states, and we’ve installed over 60 megawatts (60 million watts) of solar since 2015. We’re proud of what we do for our customers, and we’re proud of the difference we also are beginning to make for the environment.

To see if you and your home qualify for solar, call our POWERHOME Solar team at 800-765-2715, and most times, we will be able to determine your eligibility within minutes. If qualified, we will build a custom design and quote for you home.

Lower power bills, carbon footprints and tax liability. Higher-priced home. Solar power for your home is a big win. Call now!