Florida, United States, February 27, 2024 – If you want your house to sell faster and get a bonus of up to $20,000 in the future, consider installing solar panels. How does it work? In this article, we’ll explain why houses with PV systems sell out faster and for a higher price.
Homes with solar sell 20% faster than comparable non-solar homes in California, say NREL experts. What’s the reason behind houses with PV systems being more popular on the property market? There are several.
The first reason is that solar panels increase the energy efficiency of your house. Energy efficiency indicates how well your home retains heat and uses electricity. To measure the energy efficiency of houses, a Home Energy Rating System (HERS) was developed.
The system evaluates the score of your house on a scale from 0 to 150. The lower the score, the more energy-efficient the house. A typical resale house might have a score of around 130, while a new one could score around 100.
The HERS rating has a direct impact on the price of your house when selling. Houses with lower HERS scores tend to be 3-5% more expensive and sold 2.7% more often than those with higher scores. Additionally, buyers of HERS-rated homes often have better mortgage profiles. If you think you might eventually resell your house, it’s a good idea to lower your HERS score by performing a home energy audit and installing energy-efficient upgrades — including solar panels.
The part of the appeal of a house with a PV system to potential buyers is that solar panels are a clean electricity generator. When they work, they generate no carbon emissions. Unlike gas generators, they don’t smell and work silently. In times when climate change is an apparent problem, more and more people prefer using green energy to contribute to a fight against global warming.
Governments also recognize the importance of clean energy and conscious energy usage in order to slow and reverse climate change. That’s in some European countries, governments demand that homeowners increase the energy-efficient rating of their houses through insulation and upgrades like solar systems. Similar measures might come into effect in the US in the future so it makes perfect sense for property buyers to prioritize options with clean energy generators already in place.
In the past, some may have complained about how solar panels are ugly and spoil the look of a house. Not anymore. Blue-ish polycrystalline solar panels became less widespread and today homeowners switch to monocrystalline solar panels whose black look is much more visually appealing. Many manufacturers offer all- black solar panels with a black metal frame and uniform dark surface that do not harm the look of a house and in many cases only improve it.
When it comes to design, shingled solar panels look the best. These are the PV modules offered by companies like Sunpower-Maxeon, Solaria, and Hyundai. They tend to be more expensive than your average solar panels but better looks are not their only benefit: shingled panels also resist shading better and show higher efficiency compared to conventional PV modules.
With home solar panels, there is more going on than just the increase in the attractiveness of property. Solar power systems steadily pay off in the United States and the owner of a PV system can save quite a lot of money over the years.
When we talk about the benefits of having a solar system on top of your house, the first thing that comes to mind is lower bills. Instead of purchasing electricity from the grid during the day, you generate and use your own. In 2023, the average electric bill in the US floated around $140-$150. If your solar system fully meets your home’s energy needs, you can potentially save about $1,500-$1,800 annually. That’s why the average payback time of a solar system in the Us is 6-8 years.
Your savings from having a solar system highly depend on your state’s electricity cost. The higher the electricity rates, the more money you save, and the quicker the solar system pays for itself. Even though states like New York and Connecticut are cloudy, solar panels pay off in spades there because of high electric bills.
A home with a PV system generally costs about 4% more in the market compared to a house without it, according to Zillow real estate agency. The average cost of a house in the US in 2024 is $500,000. Therefore, adding a solar system would add approximately $10,000-$20,000 to its value. The actual return may vary based on the condition of your panels and roof.
Therefore, investing in a solar panel system even when you know that you won’t live in a house your whole life is still a worthwhile choice as it tends to pay off when you sell your house. For buyers, it’s also a good deal: they get a turnkey solar system and a low electric bill from the start and don’t have to go through the process of installation and permitting of a PV system.
What about taxes? While solar panels increase your home’s value, it doesn’t necessarily mean higher taxation. In many states, solar panels are excluded from property tax assessment, which ensures that you pay the same amount whether your house has a solar system or not.
Contact Info:
Name: David Henry
Organization: A1SolarStore
Email: solar@a1solarstore.com
Website: https://a1solarstore.com/
Address: 1854 NW 124th Way, Coral Springs, FL, 33071 USA
