Going solar can help you save a lot of money on your electric bills and qualify you for a 30% federal tax credit, but those aren’t the only financial benefits of solar panels—installing a solar energy system can also increase your home’s value. If you’re thinking about moving or downsizing in the coming years, a home solar panel installation is a sound investment that could help you get more from the sale of your home.
How Much Do Solar Panels Add to the Value of Your House?
Solar homes typically sell for more because buyers recognize the value of being able to produce their own electricity. For buyers that use a lot of power, the long-term savings a solar energy system provides make the higher upfront cost of the home worth it. And, with the California electric grid becoming increasingly unreliable, the ability to produce and store your own power is becoming more and more attractive.
But just how much will your home value increase with solar? It really depends on where you live. The sale premium for houses with solar panels varies by market, and buyer preference can play a role, too.
According to research conducted by Zillow, homes with solar panels sell for 4.1% more than comparable homes without solar panels, on average. That translates to a $9,274 increase in value for the median-valued home.
Exactly how much value solar panels add to your house depends on your current local real estate market, but the research suggests a few things:
- Homebuyers see the value solar panels add.
- Homes with solar tend to sell for more than homes without.
- Homes with solar tend to sell faster than homes without.
Solar Homes are the Future in California
California has enough solar installed to power 10,133,299 homes, and in 2020 became the first state to require all new construction single-family homes to be equipped with solar panels. This is indicative of a trend toward greener living in California, where whole-home electrification, electric vehicles, and clean energy generation are increasingly common. By adding solar panels and battery storage to your home in Monterey, Salinas, or Santa Cruz, you can keep your home attractive to modern buyers who are thinking about energy costs, climate change, EV charging, and blackout protection.
Increase Your Home’s Value with a Solar Panel Installation
For many homebuyers, solar panels are a luxury that they’re willing to pay a premium for—just like a newly renovated kitchen. Premo Solar can help you take advantage of this with a solar installation for your home. We are a leading local solar company near you, and our team has decades of experience serving homeowners in the Monterey Bay area.
We install the best quality solar products and design custom systems to maximize your electricity generation and add as much value to your home as possible. You may even be able to recoup 100% of your initial investment in solar panels when you sell your home thanks to the value they add!