Installing solar panels is more than just a smart move for lowering your energy bills and reducing your environmental footprint—it can also increase the value of your home.
Numerous studies and real estate reports show that homes with solar panels tend to sell for a premium compared to homes without them. This can be as much as 4-10% of your home value depending on the home market in your area, and how much you pay for power. This increase in value stems from a combination of financial, environmental, and practical benefits that appeal to homebuyers.
Solar lasts 30-40 years and tends to return its value you to in savings within about 7-13 years, you may already have recouped your investment before you even decide to sell your home. Since you’ve already done the legwork to install solar, it makes it easier for potential homebuyers to include it in their decision—especially when you can demonstrate how your system has effectively eliminated your electricity bill.
While solar can certainly boost your home’s value, the exact amount depends on a few
factors.
Solar-powered homes tend to command higher prices on the real estate market for several
key reasons. Let’s look at the main reasons solar homes sell for more.
One of the most appealing aspects of purchasing a home with solar panels is the immediate savings on energy bills. Buyers know that they’ll pay less for electricity, or even have a completely eliminated electricity bill from the moment they move in, which can make the home more attractive compared to similar properties without solar. Also, since your home solar system will be factored into the price of the sale of your home, a potential buyer will have that amount factored into the financing they would acquire for the purchase. Home loan terms can be as long as 30 years meaning your solar system won’t significantly increase their monthly home payment. This gives your homebuyer immediate savings on day 1 with solar from their normal monthly expenses on power, making your home an attractive purchase for that reason alone.
2. Long-Term Energy Savings
Solar panels have a lifespan of 30 to 40 years, which means the energy savings continue well into the future. Solar tends to pay itself back in value within 7-13 years depending on the amount of sunlight you receive, and how much you pay for power. You may have already more than fully recouped your investment on solar by the time you choose to sell to your home, and its lifespan is long enough to return that much value to your homebuyer as well – especially if you factor in that electricity costs may increase an average of 3% a year. Solar panels protect homeowners from fluctuating energy prices, offering a level of stability and predictability when it comes to monthly energy expenses. For buyers, this translates to long-term financial benefits, as they can expect to save thousands of dollars over the life of the system. This extended period of savings can add significant value to a home.
3. Energy Independence
Your home may appeal to different types of buyers if you invested in Solar Batteries. These types of buyers would be people who value not just energy savings, but also 100% uptime on their home’s electricity in the time of a grid outage. Solar panels with batteries allow homeowners to generate and store their own electricity, reducing reliance on the grid. This energy independence is appealing to many buyers, especially those who are concerned about power outages. With solar panels in place, homeowners gain greater control over their energy production and usage.
4. Environmental Benefits
Homes with solar panels produce clean, renewable energy, reducing the property’s overall carbon footprint and making it more attractive to buyers who prioritize sustainability. In today’s environmentally conscious market, many buyers are looking for homes that align with their values. Solar panels are a symbol of sustainability and a commitment to reducing carbon emissions, which can make a home more desirable to eco-conscious buyers.
Key Selling Points for Solar Homes:
Installing solar panels is not only a smart investment for reducing your energy bills and environmental impact—it can also significantly increase the value of your home. By offering immediate and long-term savings, energy independence, and environmental benefits, solar systems make homes more attractive to buyers and can lead to higher selling prices.
Interested in learning more about going solar?
The first step is to acquire a solar proposal. By understanding your energy consumption, sunlight exposure, and roof orientation and space, we can design a solar solution that meets your needs both now and in the future. A well-sized solar system can help you achieve your energy goals and reduce your carbon footprint.
Our Solar Specialists and Project Managers can cleanly walk you through the steps of what is required and make sure you maximize the value of any provincial or federal programs in your area. We’ll also get you started on the vital first step of acquiring a tailor-made solar proposal for your residential project’s energy needs.
Schedule a consultation for our solar specialist’s expert guidance here.
Xolar is a full service turn-key platform for transitioning both residential and commercial clients, book a free quote today!
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Xolar Inc is Canada's Leading Solar Energy Company. We are a full service turnkey platform for transitioning both residential and commercial clients to solar energy. We support our clients with our done-for-you approach, taking you from project design all the way to construction.
