How Much Do Solar Panels Add Value To Your Home?

The benefits of solar panels are numerous and range from saving money on your monthly energy bill

to helping you reduce your carbon footprint. However, how much does a solar panel system add to your home's value? While there is no foolproof way to estimate, you should look for the following.

According to a recent study, a solar-powered home is worth at least $15,000 more than its non-solar

counterpart. Homebuyers are willing to pay a premium for a home with the latest and greatest in

solar technology. In the long run, this can save you thousands of dollars in utility costs.

Another study analyzed homes that were installed with solar panels in eight states. It found that the

average home had a 6KW system. This is more than enough to generate sufficient electricity for a

family of three.

Although the cost of installing a solar system is substantial, most homeowners will get their

investment back almost immediately. When the time comes to sell, you'll enjoy a bump in the

property price, thanks to the savings you've accumulated.

A new study by Zillow found that solar panels can add a significant amount of value to your home.

The study compared the sales prices of homes with and without solar energy systems. They looked at

all of the data, including the location, size and time of year. The study also considered the other

tidbits of a home, such as its most expensive upgrades. For example, you may have to replace old

windows and faucets. Or perhaps your home requires a new roof or a brand-new air conditioning

unit.

One of the most intriguing findings was that the solar-powered home was likely to sell faster than

its non-solar-powered counterpart. While this is not true of all homebu yers, those who were savvy

about solar technology were willing to pay a premium for a well-maintained home with a solarpowered option.

To learn more about how a solar panel can boost the value of your home, ask your real estate agent

to hire a certified appraiser who specializes in this niche. Many agents will be happy to help you

find a qualified individual. You should also consider your local market. Homes in sunnier areas are

most likely to reap the benefits of solar panels.

If you're thinking about making the switch, you might want to check your local property taxes.

While it is not always the case, the IRS has said that solar-powered homes are eligible for a tax

credit. That could mean a deduction on your annual income.

Other things to look for are net metering programs, which allow homeowners to use their excess

solar electricity to power their homes. These programs vary by state, but many of them have

incentives for home owners who want to go solar.

Aside from saving you money on your monthly energy b ill, solar panels can help protect your home

from the rigors of a long, hot summer. Those who opt for solar will also benefit from blackout

protection. And, as long as the system is maintained, you can expect it to last for 25 -30 years.