Fact or Myth : Do Solar Panels Increase Property Value?

Purchasing solar panels for your home is a worthwhile investment in so many ways.

When you install solar panels, you’re not just doing your part to help the climate crisis. Cutting out your monthly energy bills means that you’ll be saving money hand over foot. Combine that with the fact that the cost of solar panels is rapidly decreasing and you quickly realize that going solar is a no-brainer.

But that’s not all. In this post, we’re going to talk about the ways that solar energy can actually increase property value as well. Keep reading and you’ll be calling up your local solar installer before you know it.

The Cost of Going Solar

Between 2020 and 2021 alone, the cost of solar has dropped by 12%. This steady drop in panel and installation costs over the past 20 years has made it possible for more households to go solar. That doesn’t mean that it’s cheap, however.

Many people are still turned off by the high up-front solar panel prices, but you can’t fully understand solar prices without learning about incentives. With the federal investment tax credit, state credits, and local rebates, you can potentially claim close to 50% of your solar panel installation costs.

These incentives combined with monthly energy savings and things like SRECs, you can break even on your solar panel installation within a few years.

Why Switch to Solar Energy

Since the cost of going solar is becoming so affordable, it’s an easier decision to invest in solar panels. What makes it such a good long-term investment is that it will increase your home’s value should you decide to sell one day.

According to EcoWatch, you’ll increase your home’s value by nearly $6,000 with each kilowatt of solar panels that you have installed. Most residential solar panel systems are at least 4kW, so you’ll be looking at roughly a $24,000 increase on your home’s value.

The fact of the matter is that solar panels are sought-after features on homes. By getting a great solar installer on your side – like Blue Raven (visit website) – to install your panels, you’re not just increasing the overall value of your home, but you’re also making it easier to sell.

Buyers will see the solar panels as a way to cut energy costs. If they don’t have to go through the rigamarole of paying for the installation, then your house is all the more enticing.

It’s Time to Increase Property Value ASAP

If you’ve been wanting to increase property value on your home, then there are few better ways to do it than installing solar panels. It’s something that you can reap the benefits of while you still live in your home but will also make the home selling process so much easier and more lucrative. 

Don’t hesitate any longer to get your solar panels. The federal ITC is scheduled to decrease at the end of this year and disappear by the end of 2024, so there’s never been a better time to go solar.

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