Does Solar Add Value to Your Home?
One of the biggest reservations homeowners have when installing a solar power system is property value. If there is potential that the house could be put on the market prior to the end of the lease or PPA (power purchase agreement), homeowners want to ensure they’ll retain what the home is worth. What if we told you that you're actually better off in the housing market when trying to sell a home vs a "solar" home?
Various reports have discussed this topic in recent years, and studies have shown that home value increases about 3-4% post solar installation. Those homes also tend to sell twice as fast as homes without solar. Buyers on average are paying $15,000 more for a home with a modest 3.6 kW system, and most solar companies are averaging 5 or 6 kw systems; some average up to 10 or 11 kw.
If the solar power system is owned by the resident, they’ll benefit from the 30% Federal tax credit as well. But even with a PPA loan or a lease, they’ll enjoy lower electricity bills in comparison to their neighbors. And cleaner energy production to boot. Either way, it's a win-win.
Solar-powered homes are becoming so common that realtors are now taking courses on:
a) understanding the benefits of solar power for the home’s electric bill
b) the benefits of buying a home with solar already installed.
This helps them learn how to sell the homes to the proper demographic. It is no longer a “niche” market — average Americans across the country are able to harness the power of the sun and save some money while doing so.
In so many words, solar is basically like parking a Ferrari on your roof or in your yard. It’s cutting-edge technology that is helping save the environment AND your wallet — and it looks pretty good too! It’s becoming more and more desirable, so it’s a good conversation piece with your neighbors. Many companies offer referral programs — if you’ve already gone solar and recommend the same company, they’ll pay you for each referral once installation is completed. Some solar-lovers have created a second income doing this very same thing.