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The Effect of Solar Panels on Property Values

Solar property value

Solar panels save our environment from harmful gases, as well as insulate us against rising energy rates. In addition, solar power could also be the best way to increase your property’s value. Installing a Solar Panel System allows you to increase home value by 3% – 4%.

Here’s how solar panels affect the property’s value:

Houses sell more quickly

We all know how beneficial solar energy is for us, it reduces our electricity costs, secures us for the longer term. Similarly when a new buyer comes, watching for these benefits that will come in the future If they buy this house then it will be a good deal for them. They know that the price of that house can increase further and therefore the house will sell more quickly if they want to resale it. According to the Department of Energy, solar-capable properties spend 50% less time on the market.

People prefer homes with Solar Panels Installation

Research and surveys indicate that the general public not only favors this system but actually in many cases prefers homes with panel installation over them. This includes tenants, many of whom will be prepared to pay additional rent for this house. Therefore, landlords looking to increase the value of their rental homes can also benefit from this trend. Not only can they charge more in rent, but because tenants actually prefer this power, such homes are more likely to rent all the time, rather than being vacant, while renting them all. Interested people who turn to homes with panels. All landlords will recognize the value in it.

Things Influencing Solar’s Added Value to a property

A solar energy system’s added property value constitutes many factors and varies by market. 

The value-added from solar panels to a home can vary according to: 

  • Region
  • Local Electricity Prices 
  • Value for a replacement system 
  • Community with an environmental consciousness 
  • Solar Systems Age 
  • Amount of  energy production 
  • Incentives by the government in your state
  • Cost of Solar Installation

The advantages of having panels installed can still be enjoyed. The best way to add value to a house is to install solar power. Not only will the resale value of the house be increased, but it will also benefit future savings if you do not sell. As compared to other homes without solar power, your home could sell up to 20% quicker.

Contact the total solutions team with any questions or inquiries you may have regarding solar panels.

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