Solar Panel Systems Increase Your Property Value
STUDIES SHOW THAT HOMES WITH SOLAR PANEL SYSTEMS HAVE PROPERTY VALUES 3-4% ABOVE SIMILAR HOMES IN THE SAME AREA. THEY ALSO SELL TWICE AS FAST AS THE COMPETITION.
Early studies focused on established solar markets such as California. As solar takes hold across the country, new studies are showing increases in value in some communities that exceed 4%. Recognizing that solar power systems add value to a property, the real estate industry is working to create more sophisticated methods for accurately determining the market value as well as the financial value of properties equipped with solar power systems. Some of the same factors that drive your overall financial returns also drive increases in property values. Not surprisingly, areas where the cost of electricity is high or states where there are strong solar incentive programs are seeing the largest increases. All of this is great news for property owners with solar PV systems who not only recoup the initial cost of their systems when they sell, but also receive a premium that will increase the returns on their investment.