Solar Panels Are an Asset
for your family
Keep Your Home and Finances Secure by Switching to Solar
by Caroline Nurse
5 min read - Published on 05/10/2022
Do you remember that feeling when you closed on your first house? Do you remember the steps you took to make that house a home? Your home is the centerpiece of your family’s life. It’s where you make memories with loved ones and celebrate life's special moments. Your home is a special place.
Your home is also one of your greatest financial investments that you drive yourself mad trying to repair, fix, upkeep, upgrade, and protect. We hear you.
Switching to Solar Statistics
Switching to solar increases the value of your home. It's that plain and simple.
But, you definitely don't need to take our word for it. Here are some interesting statistics to consider when deciding if switching to solar is a good idea for your home and family:
The U.S. Department of Energy’s Lawrence Berkley Laboratory found that homebuyers consistently have been willing to pay more for homes with host-owned solar photovoltaic (PV) energy systems—averaging about $4 per watt of PV installed.
In 2019, Zillow released a report that stated that homes with solar panels sold a little over 4% higher than comparative homes without solar. These houses are increasing in value because the world is a crazy place and we are constantly battling new unknown challenges every day. Wondering if you will be able to afford power to keep the heat on inside your home should not be one of them.
Increases in Value for Solar-Powered Homes
As homeowners, we are always on the lookout for new ways to intelligently manage our investment and increase the value of our home. It is common for homeowners to invest in large ticket purchases such as fancy, new, double-paned windows or tankless water heaters.
These large investments might make life a little better along the way in the short-term, but they will increase the value of your home as the years go by. Installing new fancy windows in your home is a large upfront investment, but you should see savings on your heating and cooling bills over time.
Solar works in the same way. Yes, it is an investment upfront, but you will see your monthly power bill drastically reduced as a near immediate result the day your system is up and running.
How can solar increase the value of your home?
To name a few of the ways that switching to solar can increase the value of your home:
- Home buyers have been shown to be willing to pay more for homes with solar.
- Homes with solar panels sold for more than 4.1% more than homes without solar panels.
- Installing solar will greatly reduce (and eventually eliminate) the energy costs of the home.
- Home with solar are more attractive to environmentally-conscious home buyers.
What influences the value of your home?
These are some of the factors that can affect the value of your home when you decide to sell.
- Square footage
- Local market
- Age and condition
- Solar panels
- Upgrades and updates
Solar Power is an Asset
You're tuned in. You keep your finger on the pulse of the residential market and keep an eye on the value of your home. You have a plan for when to replace the roof or update the bathrooms. Maybe it's time to upgrade your power? Your home maintenance plan should also include a plan to switch to solar.
Switching to solar is good for the environment and for your household budget. You will save money on monthly energy costs at a time when energy costs are only increasing. You can rest assured that whatever you decide to do with your home—pass it on to your family or sell in the foreseeable future—you know that by switching to solar you are making a smart financial decision that will pay dividends for years to come.