Do solar panels add value to your home?
According to the US Energy Information Administration, (US EIA) the answer is yes. The money you get for having the system is in addition to the money you save on electricity every day that the sun is shining! Another benefit of going solar is that homes with solar power sell about 20% faster than homes without it. If you chose to stay in your home, you could look forward to years of savings on electric bills from your solar system.
Solar panels save money and add value to a home
Nationally, for every dollar you invest in solar power, your home’s value will increase by around $1.85. The increase in value varies by state, but as a rule-of-thumb, the more solar-friendly a state is, the more value going solar adds to your home. Some buyers are focused on curb appeal and may not like solar panels. But overall, putting solar panels on your roof can help you sell your home up to 40% faster.
The aesthetics of solar panels have improved a lot over the years. They used to be bulky boxes with conduit tubing running all over the place. The solar panels installed by Freedom Forever have a sleek, low profile black appearance. We can also make sure there’s no conduit tubing showing on your roof if that is important to you.
Buying adds value to a home, leases and PPAs don’t
When selling your home, you may find that some prospective buyers don’t want to take on the responsibility of a solar PPA or lease. In that case, you have to buy out your lease and removing the panels from your home if you choose to sell to a buyer that doesn’t want your lease or PPA.
Solar panels only add value to a home if you buy them. Banks won’t recognize leased panels as adding value to a home. For every dollar you spend on solar, it increases your home’s value by about $1.85. You also earn higher savings over the life of your system if you buy rather than lease.
Will solar panels add enough value to your home to cover the cost of the system?
That depends on a few things. How long have you owned the system? Most homeowners break even on the cost of their systems in about 8 – 10 years. It depends on what state you live. Homes in states that are solar-friendly may do better value-wise than homes in states that aren’t solar friendly. The neighborhood the home is in can also affect the value that solar panels add to a home. Homes in “green” communities with solar panels may be more attractive to prospective buyers. If the home is in an area that isn’t “green”, then the solar panel system may be less attractive to buyers.
The Freedom Forever 25 year production guarantee adds value to your solar power system
When you install with Freedom Forever, you get our 25-year production guarantee. We guarantee your system will produce the amount of power we promise it will for 25 years. If it ever breaks, we fix it and reimburse you for any lost energy savings you incurred while your system was down. You can transfer our guarantee to the new buyer. Imagine being able to tell them that their new home could come with guaranteed free power from the sun!
*Subject to the terms and conditions of your agreement
Install savings, install confidence and value with Freedom Forever. Call us at 866 840 2207 or click here to speak to a solar power expert.
Kramer, Susan 23 October 2010. Solar Homes Sold 20% Faster, and for 17% More, NREL Study
Finds. Web 7 March 2019https://cleantechnica.com/2010/10/23/solar-homes-sold-20-faster-and-for-17-more-nrel-study-finds/https://cleantechnica.com/2010/10/23/solar-homes-sold-20-faster-and-for-17-more-nrel-study-finds/
Youngren, Margery, 25 October 2017 How do solar panels affect a home’s resale value?