Do Solar Panels Increase Home Value? 4 Things You Need to Know

do solar panels increase home value property price

Did you know the average home appreciation rate is between three and five percent? If you keep your home in good repair, you will notice your network increasing as the years go by. 

You might not want to wait around to increase home value. In some cases, you might ask, "Do solar panels increase home value?" You may want to do things to improve your investment and sell it for more money later. 

Continue reading this article and we will talk to you about the things you need to know about solar panels and your home. 

1. Cost of Installation 

When you consider home solar installation, it might look like a big fee to pay, but you have to think about money savings over the long term. While you might put out a pretty penny right now, over the 25-30 years of the system you'll save money. 

Recouping the money you put out for installation will happen over time or you can get some of that money back when you sell. If you are only trying to install solar to make your home go in value for a flip, it might not be the best investment but that depends on the next point. 

2. Where You Live 

The state you live in has a lot to do with how much your home's value will increase when you add solar. In some states, you will barely see the needle move but in others, it will make it worth your while. 

A few of the states that get the highest return on investment are New Jersey, Pennsylvania, and North Carolina. As time progresses, this can change, so if you want to use the solar yourself, it makes sense to go ahead with the installation. 

3. How Much Solar 

If you only add a couple of solar panels, you aren't likely to see a big return. On the other hand, if you add the right amount of solar to a home in the right location, you can get a nice sum when you go to sell. 

If you aren't sure how much solar you should get, you can speak to a professional and see what they recommend. Having a specific number and plan for your property will allow you to get the best results 

4. Home Size 

If your house is large, you might not see the value increase you hoped. A large house gets benefits from solar, but it will only be a small percentage of your total home value. 

Look at the points above and factor in your home's size to see if this is a good decision. Even if you see a small increase in your home's value, it may be worth it to you depending on your goals. 

Do Solar Panels Increase Home Value? - Now You Know 

Now you know the answer to "Do solar panels increase home value?" Using the information that you learned in this article will allow you to make the right move for your home. 

Do you want to learn more about solar panels and renewable energy? If so, keep reading and check out some of our other articles on solar energy and clean fuel for your business and home.

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