Do Solar Panels Increase A Home's Resale Value?
Home-buyers are willing to pay more for solar powered or solar power supplemented houses than those relying solely on power from the utility grid. More and more people are realizing that solar isn't just about renewing the environment; it's also about investing in something that will result in greater savings down the road. Solar energy results in:
- Drastically reducing your electric bills
- Protection from continually increasing electric rates
- Ability to "sell" extra solar energy back to the utility via net metering
- Ensuring continuous uninterrupted electricity.
While a solar system is a good investment now due to numerous state and national incentives, many of those rebates will have probably expired by the time your home is on the market. So, your buyer will appreciate having all the benefits of solar, without having to pay full price for a brand-new system!
Solar panels don't stop working once you sell your house and move out. Due to their 25+-year guaranteed lifespan, your home's solar energy system will provide the next resident with free electricity as well.
You do need to own your panels to take advantage of your home's higher value. In some situations leasing panels can be a great option, the perks of not having to pay for the panels on your building also means that those panels still belong to another company. Since your buyer won't actually own the panels either, leased panels usually won't add to the home's resale value.
So, if you're interested in saving money and increasing your home equity, think of switching to a solar system !