Yes! Each $1 in energy bill savings (from your solar install) adds $20 to your home’s total value.
The National Renewable Energy Laboratory offers a guide to tell how much your property’s value will go up.
This rule of thumb varies depending on a number of factors, including:
The exact numbers vary from property to property and installation to installation, but recent research shows an average increase in resale value being $5,911 for each 1 kilowatt (kW) of solar installed. In a state like California, for example, a small 3.1-kilowatt (kW) system can add an average of $18,324 to the value of a medium-sized home.
The property value advantages of solar energy only increase as you scale up. Installing 5kW of solar panels adds an average of $29,555 to the retail value of a medium-sized home.
It’s important to note that these statistics only apply to today’s housing prices and utility rates. As electricity prices go up (as they most certainly will), the advantages of solar energy rise proportionally as well.
In addition, installing solar panels not only helps you fetch a higher asking price, but it can also help your home sell 20% faster as properties without solar installations. For homeowners who want to reduce exposure, paperwork, and wait times, this can be a huge advantage – especially in today’s sluggish housing market.
Installing solar panels is one of the safest and wisest investments you can make. And that’s why solar increases solar increase’s the value of your home in Florida.
In other words, with the right-sized installation, solar energy is an investment that potentially pays a 200%+ return – far an excess of most any other financial vehicle you can imagine.
And unlike most investments on the market, you actually begin enjoying those returns on Day 1.
For additional information on the advantages of solar energy, please visit Why Solar Energy?
To learn more about your solar options or to speak with certified installers in your area, request a free, no-obligation solar estimate today.