What Is the Current Value of My Home With Solar Power?

June 28, 2021

There are over 1.4 million homes with solar panels installed here in the U.S. More and more Americans are seeing the benefits of investing in solar power, and it's not hard to see why.

Not only does it make you more energy efficient and financially independent, but it also improves the value of your home.

But you may be asking yourself, "what is the current value of my home, and how will it improve with solar panels?"

That's what we're here to answer today. Read on to find out how you can boost the current value of your home with solar power.

How Much Does Solar Add Value to a Home?

Generally speaking, adding solar power improves your home value by about 4.1%. This might now sound like much, but remember that homes are expensive purchases.

This means that you'll get a few thousand dollars more by installing solar, regardless of the size of your home. The added value also depends on where you live.

Those living in California might not get as big of a value increase by installing solar as in other states. If you live in New York City, for example, you'll probably gain a lot more by investing in solar.

If you live in Colorado, https://blueravensolar.com/colorado/ is a great place to start.

But why does solar even add value to your home in the first place?

Why Does Solar Add Value to a Home?

If you're asking yourself, "what is the current value of my home," you might be perplexed as to why adding solar improves that value in the first place. You'll find that adding energy efficiency can benefit your asking price in several ways.

Even if your home costs a few thousand dollars more for potential buyers, many take into account the long-term benefits of solar energy. By having solar panels installed already, a new homeowner can circumvent thousands of dollars in energy bills later down the line.

It also means they can live more off the grid, and they won't have to rely on energy companies as much going forward. In addition to those advantages, homeowners can enjoy certain tax credits for using clean energy.

You might even come across people who are eager to be more environmentally conscious, and your solar-powered home might be just the thing. Some regions might have exceptionally high energy prices as well, making your solar-powered home that much more enticing.

In short, the solar-powered home is certainly a sought-after commodity these days. It gives homeowners much more independence and gives them a cost-effective option for reducing their carbon footprint.

If you're purchasing solar panels to boost your home value, just know there are plenty of factors involved, some of which we've mentioned. How old the solar system will factor into your value, as will the region in which you're located.

The number of state incentives can also play into everything. Don't forget about outage rates and the local cost of electricity in your area.

Leverage Solar to Boost Home Value

What is the current value of my home, and how does solar make it better?

If you're asking that exact question, use this guide to help you find the right answers.

For more informative articles on solar and real estate, check out the rest of our site!


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