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4 Ways Solar Panels Add To Your Property Value

Solar Panels Add ValueIt might not be every day that you see a home with solar panels on its roof, but those days are slowly dwindling. Did you know that there are around one million solar-powered homes in the U.S.? Solar panels revolutionize a home, making it less expensive to live in and more attractive to potential buyers. Research studies and anecdotal evidence from homeowners like you unanimously agree on the incredible benefits of renewable energy for homeowners.

We highlight the major ways solar panels increase value for homes:

1. Become independent from fossil fuels. In most cases, a solar energy array will pay for itself within a few years. Many homeowners borrow a loan to finance the project because many contractors offer great financing. Solar energy supplements power from the grid as soon as it’s installed. Then, while your loan is in repayment, you’re protected from the rising costs of non-renewable energy sources and typically save some money on a monthly basis. Once the array is paid off, you can expect free energy for years to come! Unused power is fed back to the power company whereupon you receive credit on your bill.

2. Panels shade your home. The main function of a solar array is to produce energy – the electricity you use for light, running appliances, and keeping your home comfortable. So, when solar rays are being drawn into the panels, they are no longer beating down on your roof, producing heat in the attic or crawl space or damaging the roof surface. So not only do the panels provide some cooling effect in summertime, but they actually reduce the damage to the roof surface from the sun’s rays.

3. An installation won’t damage your roof. In fact, it may actually provide structure. The system of panels, or solar array, is installed on a framework which is affixed to the roof. Some homeowners have concerns about excess weight or new holes being added to the top barrier of their domicile, which is an understandable concern. Solar panels only weigh around 2lbs per square foot, which is about the same weight as a second layer of shingles. Licensed solar energy contractors are skilled at what they do and abide by practices that do not disturb the integrity of the roof. The framework adds extra rigidity to boot.

4. Realtors agree solar is a big selling point. When it was new, homeowners weren’t certain how potential buyers would react to seeing a solar array on the roof. Solar energy has been available to homeowners for over a decade, and the real estate market has collectively weighed in. Every market is different, but in some neighborhoods, a recent report found that homeowners are willing to pay tens of thousands of dollars more for a self-powering home.

Home contractors and financial experts agree that solar panels make sense. In some parts of the US, home values are improved in a 1:20 ratio, meaning for every $50 the homeowner saves annually, the home’s value is increased $50K. Conditions like sun exposure and real estate markets vary all around, but the consensus is that solar energy benefits homeowners. If you live in an eco-conscious neighborhood, there are added intangible benefits, too. Reducing your carbon footprint carries social clout in some circles. But at the end of the day, it’s your own family who matters most. Do more with your monthly budget by taking steps to reduce your dependency on over-priced fossil fuels now.

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