Solar panels are becoming an increasingly popular choice for homeowners. Not only are they proving to me more resilient when it comes to disastrous climate events, helping families and utilities keep the lights on when traditional grid-based energy sources seem to be failing, but they also provide an avenue toward decarbonization efforts.
These attributes of solar panels make them an option for future homeowners and businesses alike, and yet they are not yet on every household or building. And because of this, many homeowners wonder, “do solar panels increase the value of a home?”
To put it simply, the answer is yes. Solar panels do increase home values. How much a solar panel increases the value of a home can depend on a variety of things, such as the home itself, the location, and other conditions.
If you are a homeowner and are considering a more sustainable avenue for your energy resource, you should know that solar panels can increase the value of your home, while lowering your carbon footprint. This is a win-win.
Now is The Time
Not only are the natural signs for the need to turn to more sustainable energy resources all around but there are federal incentives that should encourage you to turn toward solar as well. For instance, the Inflation Reduction Act, which was signed into law in August of 2022, extends solar tax credits to homeowners through the end of 2032. This credit is worth up to 30% of eligible expenses, which can be significant financial aid if you are considering a solar installation.
This tax credit can help keep money in your pocket right now, while the solar panels will increase the value of your home for the years to come. After all, installing solar panels is not a short term decision, but thanks to the Inflation Reduction Act, it can make sense financially now and later, easing the burden of up-front installation and purchasing costs.
Regardless of where you live, you have seen reports of increasingly destructive weather patterns and events caused by the effects of climate change. From wildfires to droughts to hurricanes, these weather conditions seem to be increasing year over year, causing significant damage to current power structures and leaving individuals without power. Sometimes for long stretches at a time.
Repairing power lines and constantly updating the energy grid mean your home is susceptible to these conditions, and the power that is coming into your house should not be taken for granted.
However, solar panels can help keep the lights on during these conditions, as they are designed to be more resilient to withstand such conditions, and can continue to provide power when needed.
This is a big way that solar panels do increase the value of a home. And depending on where you live, the question of precisely “how much” solar panels can increase the value of your home might be higher than others.
For example, if you are living in a coastal town that sees an increasing number of landfall hurricanes, then you can rest assured that solar panels will increase the value of your home at a more rapid rate than someone who lives in an area where these natural occurrences are less prevalent. However, as more and more people turn to solar energy, and it increasingly becomes the standard, those who do not have solar panels installed will be behind the proverbial 8-ball.
Invest in Your Home
Solar energy is here to stay, and as solar panel technology continues to improve, weather conditions continue to burden the aging grid, and tax incentives continue to be an option, solar panels will continue to increase the value of homes across the country.
No longer is the process of installing solar panels in your home considered “ahead of the curve,” since it is rapidly becoming the norm. This is not because people don’t still have questions about solar panels and solar technology, but because the need to turn to a more resilient and reliable energy source is upon us.
Solar panels increase the value of your home immediately, and will keep your home’s value up in the future. And if you ever decide to sell your home, the fact that it is solar-ready will be intriguing to new homebuyers. After all, the events that are causing the push for solar energy are not going away, which means that solar panels are going to increase your home’s value for the foreseeable future.
Call today and get a free quote, and learn more about how much solar panels can increase your home’s value. Call us at 1-800-674-9750