How Solar Panels Increase Property Value
There are numerous benefits to installing solar panels to power your home. As an alternative to the increasingly unreliable Texas grid, a solar array system can ensure you don’t lose power unexpectedly. Also, saving money on energy bills each month and providing solutions for the environment ain’t half bad, either!
However, there are other less obvious benefits of solar ownership, such as increasing your property value. Let’s go over how solar panels increase property value and how you can maximize the benefits that come with being a solar energy cultivator.
How Do Solar Panels Increase Property Value?
Multiple studies have found that installing solar photovoltaic (PV) energy systems, also known as permanent solar panels, can increase property value. On average, installing a solar panel system to power a home increases its value by about $4 per watt of PV installed or about $15,000 per system installed.
Numerous factors impact how much solar panels will increase your property value. For example:
- Location: Is your home facing the sun? Are there a lot of obstructions blocking your home from direct sunlight? Does your location receive a lot of sunlight year-round? All of these factors determine how much energy your solar panels can produce and how much they will subsequently increase your property value.
- Size: The size of the solar panels and system you install plays a large role in how they will affect property value. Solar array systems increase the value of the home on which they are installed by roughly $4 per watt, meaning that the larger the system, the more it will be worth.
- Age: As you might guess, newer systems are worth more than older ones. Old solar panels might require more repairs, updates, or even replacements. Thus, the newer the panels, the better regarding property value.
Could Solar Panels Decrease Property Value?
Solar panels could decrease property value if they are improperly installed, extremely aged, or broken.
However, in the vast majority of cases, solar panels increase property value rather than decrease it. In fact, according to Zillow, no metropolitan area has seen home values drop on average due to solar panels.
If you are looking for Houston solar installers to help increase your property value and save you money on monthly energy bills. Contact Sunshine Renewable Solutions to learn how solar panels increase property value.
We are one of the best solar companies in Texas, and we are dedicated to designing the perfect solar solution for your needs.
