Do Solar Panels Increase Home Value?
Are solar panels a good investment? Do solar panels increase home value? Solar power may be the best option to increase your property’s worth and reduce your energy bills. Many people consider their home their greatest asset. It is important to maintain it well so it does not lose its value. Your lifestyle can be enhanced by regular maintenance and improvements to your property, which will hopefully increase or maintain its market value. It is logical to increase the value of your house. But how do you do it? Some renovations and changes do not increase the home’s value enough to justify the expense. If you plan to live in your home for many years, this may not be a problem. You will still enjoy the renovation and get lots of enjoyment and solar value.
Why Solar Power?
The home’s value will be increased by solar power more than other costly improvements. Why? Since solar-assist hot water systems have existed for many years, people have grown more comfortable with it than any other form of energy. Today, there are more solar panels than ever on roofs of homes than five years ago. According to statistics, 19% of Australians now use solar energy in their homes. This could be for water heating or to power a solar power system that feeds excess power back into a grid.
Solar Panels Are Popular With The Public
Solar energy is positively viewed by the majority of Australians, so it makes sense that this could be a selling point. Research shows that more solar panels on the roof will increase the home’s value. This is due to an average increase of $6000 per kilowatt. For a 5kW installation, this means that the home’s retail value will rise by more than $29,000.
The benefits of solar power at home will be even greater as electricity prices are expected to rise.
Selling Quickly Is Part of The Equation
It is likely that you will realize that once your house is on the market, it becomes difficult to reach other goals until it sells. This is similar to putting your life on hold while you wait for the right buyer. Only then can you move on with your life and settle in a new place. It can be frustrating if the house doesn’t sell quickly.
A home that has solar panels installed can sell faster. Your home may sell 20% faster than other homes that don’t have solar power. This is another benefit of solar power that can be added to your home and life.
Keep Going With It
Even if you don’t sell your home, solar power can still bring benefits. The savings over the years will pay off the costs of the installation, as well as the monthly power bill. Solar power is a great way to increase the value of your home. You will not only increase the home’s resale price, but you will also be able to save money in the future if your house isn’t sold.
Public Perception Is Important
Surveys and research show that solar panels are preferred by the public. Many renters would pay more rent for solar panels. This trend can also be a benefit to landlords who want to increase their rental properties’ value. They can charge higher rents, but renters prefer solar power. This means that these homes are more likely to be rented out, rather than being left empty while everyone is looking for a rental home. That is something that all landlords will recognize.
Tips: Solar Power For Your Home
Solar energy can save you money depending on where you live and how powerful the unit is. It is best to use power during daylight hours as it is more efficient. Take a shower and wash your clothes during daylight hours. Your water heater should be set to heat up in daylight instead of the dark hours at night that many are using.
- You can save energy by using LED lights and bulbs in the evenings.
- The air conditioner can be used to cool your house during the day and turned off at night.
- Make sure that the pool pump runs during the day and not at night.
- Replace old appliances like refrigerators, which tend to consume a lot of power.
Call us today for more information about solar panels and the reasons why they should be installed. We can help you determine if solar panels are right for your home and how to incorporate them into your roof design. ESD Solar Company can provide the best solar panels for your home, in Florida, Texas, and Colorado.