How Can Your Solar Panels Add To Your Home’s Value?

From charging your devices to powering your entire home, solar energy has revolutionized the ways you utilize electricity. Unlike those home improvement fads that come and go, solar energy maintained a steady growth curve of more than 60 percent over the past decade (between 2006 and 2016). By embracing solar panels for their homes, the citizens of Tampa and other places that enjoy year-round sunshine can enjoy a host of benefits— a drop in the utility bills, reduced carbon footprint, contributions to the nation's energy independence, and support for the local economy. Even these are not all— solar panels can considerably add to the value of a home. 

A recent study from the Lawrence Berkeley National Lab showed that homes with solar panels enjoyed a higher property value. The study that analyzed the home sales patterns of more than 20, 000 households in the states of Florida, California, North Carolina, Connecticut, Massachusetts, Maryland, New York and Pennsylvania, proved that home buyer's desire for owning a solar-powered home is not exclusive to a particular region of the country.

What to Expect from a Rooftop Solar Installation

Although prices may vary from one home to another and depend upon the size of a unit, on an average, you can expect to enjoy a $5,911 increase in your home’s resale value for each 1 kW of installed capacity. Another Lawrence Berkley survey showed that the installation of a small 3.1kW unit increased the value of mid-sized homes in California by nearly $18,000. This piece of stat explains why solar homes sell 15 percent faster than homes without this feature. Home hunters treat solar panels as a great bonus feature, and they seldom hesitate to push their budgets for such a beneficial system.

Two Ways in Which a Rooftop Solar Unit Can Boost Your Home's Value

Investment Value: This refers to the monetary gain you experience as a result of investing in a solar unit. According to real estate industry experts, this increased price equals three to four percent of what your home is currently worth. Suppose, the present market value of your home is $300,000. The installation of solar panels will help you sell it at a price of over $40,000. It will also enable you to conclude the deal faster.

Consumption Value: This gain is all about the environmental benefits you enjoy by using an eco-friendly energy source. Unlike fossil fuels, solar energy will never run out and will never add to greenhouse gas-related pollution.

Solar Panels Will Protect Your Roof for a Long Time

Branded solar panels are sturdy and last for a long time. The arrays cover the entire roof, thereby preventing the sun's UV rays from directly hitting the roof. Homes without solar installation are deprived of this benefit and develop cracks and warps in a few years’ time. Solar panels not only protect your home from solar assaults but also save it from all types of harsh weather conditions like rain, hail, and snow.  As a result, you can avoid costly repair works. However, it may be a good idea to check the roof condition of your home to ensure that it is in perfect health and can bear the weight of these panels.

With the price of fossil fuel-based electricity shooting up dramatically, rooftop solar panels for homes make the wisest investments especially in Tampa and other sun-kissed cities in Florida. So, make a smart investment choice while contributing to the nation's struggle for energy independence. And when you choose to go solar, you are also helping the Earth to get rid of greenhouse gas emissions.

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