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  • Writer's pictureRon Magby

How Solar Panels Can Boost Your Home Value and Save You Money

If you’re looking for a way to increase your home value and reduce your energy bills, you might want to consider installing solar panels on your roof. Solar panels are not only good for the environment, but they can also make your home more attractive to potential buyers and help you save money on your electricity costs.

We’ll explain how solar panels can increase your home value, how much you can expect to save on your energy bills, and what factors you need to consider before going solar.


How Solar Panels Increase Your Home Value


One of the main benefits of solar panels is that they can boost your home value by a significant amount. According to a study by the Appraisal Journal, your home value increases by $20 for every $1 reduction in your annual energy bills. This means that if you save $400 a year by going solar, your home value could increase by $8,000.


Another study by Zillow found that homes with solar panels sold for 4.1% more than comparable homes without solar panels. In some markets, such as New York, the premium was even higher, reaching 5.4%. The U.S. Department of Energy’s Berkeley Lab also reported that buyers were willing to pay $15,000 or more for homes with solar panels.


Why do solar panels boost your home value? There are several reasons:

  • Solar panels reduce your dependence on the grid and protect you from rising electricity prices.

  • Solar panels generate clean and renewable energy, which reduces your carbon footprint and appeals to environmentally conscious buyers.

  • Solar panels can increase your home’s curb appeal and make it stand out from other homes in your neighborhood.

  • Solar panels can qualify you for tax credits and incentives that lower your installation costs and increase your return on investment.


How Solar Panels Save You Money on Your Energy Bills


Another benefit of solar panels is that they can save you money on your energy bills by generating your own electricity. The amount of money you can save depends on several factors, such as:

  • The size and efficiency of your solar system

  • The amount and quality of sunlight in your area

  • The electricity rates and net metering policies in your state

  • The amount of electricity you use and when you use it

Increased home value

Factors to Consider Before Going Solar


While solar panels can offer many benefits, they also require some planning and preparation. Before you decide to go solar, you need to consider the following factors:



  • The condition and orientation of your roof. Your roof should be in good shape and have enough space and exposure to the sun to accommodate your solar system. You may need to repair or replace your roof before installing solar panels, which can add to your costs.

  • The type and ownership of your solar system. You can choose between different types of solar systems, such as photovoltaic (PV) or thermal, and different ownership options, such as buying, leasing, or financing. Each option has its own advantages and disadvantages, so you need to compare them carefully and choose the one that suits your needs and budget.

  • The local regulations and incentives for solar energy. Depending on where you live, you may need to obtain permits, inspections, and approvals from your local authorities before installing solar panels. You may also be eligible for tax credits, rebates, and other incentives that can reduce your upfront costs and increase your savings. You can check the Database of State Incentives for Renewables & Efficiency (DSIRE) to find out what incentives are available in your state.


Conclusion


Solar panels can be a great investment for your home, as they can increase your home value, save you money on your energy bills, and reduce your environmental impact. However, they also require some research and planning, so you need to weigh the pros and cons and make an informed decision.

If you’re interested in going solar, you can contact 2Sunssolar , one of the leading solar companies in the U.S. They can help you design, install, and maintain your solar system, and offer you a free consultation and quote. To learn more, visit their website or call them at 480-462-2100

 

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