Increasing the Value of Your Home with Solar Panels | Take it Up with Tony

Tony Accardo April 25, 2023

One of the latest selling points in conversations with buyers is a rooftop solar system. Homes with solar panels are often considered more valuable and attractive to buyers because they offer a number of benefits, as well as translate to nearly $10,000 more for a median-valued home.

“A 2019 report from Zillow showed that properties with rooftop solar installations sold for 4.1% more than comparable residences without them. For a median-valued home, that’s equal to about $9,300,” CNET Writer Dan Avery notes.

“And residences with solar are 24.7% more likely to sell over the asking price according to property listings site Rocket Homes.”

The benefits of adding solar panels to a home include:

Lower Energy Costs

With solar panels, homeowners can generate their own electricity, which can help reduce monthly utility bills. People are attracted to the thought of solar panels because of the money-saving factor.

Tax Benefits

In some areas, homeowners who install solar panels may be eligible for tax incentives or rebates, which adds an additional attractive money-saving feature.

Energy Independence

Solar panels can provide homeowners with energy independence, which can be valuable for homes in unreliable electricity grids.

Environmental Benefits

Solar panels are a clean and renewable energy source that is appealing to buyers who are interested in reducing their carbon footprint.

As of 2022, California is the number one ranking state with the top solar market. It is predicted that liquified natural gas sources will continue to decrease into 2023 and possibly into 2024, resulting in electricity prices increasing as much as 10%, according to Mark Wolfe, director of the National Energy Assistance Directors Association.

Thinking about installing solar panels and want to learn more? Read the rest of the informational article on all things solar energy and the value it can add to your home here.