There are many reasons to think about making an effort to switch to solar energy. First, traditional grid-based power doesn’t do the planet any favors. In most parts of the United States, coal and other fossil fuels are still the most common sources of electricity generation, creating substantial negative impacts on the environment and human health. Also, when you consider that the average price of electricity is increasing, with a projected increase of 1.3 percent between 2021-2022, having free electricity directly from solar energy is appealing. There are also federal tax credits for solar to think about.
What is the benefit that solar energy could provide to your home?
DO SOLAR PANELS INCREASE HOME VALUE?
In a nutshell: yes. Solar panels and their benefits significantly boost your property’s value. According to research conducted by Zillow in 2019, homes with solar energy systems were sold at 4.1 percent more on average than comparable homes that did not have access to solar energy (amounting to a further 10,000 in the case of median value homes).
It’s easy to see why potential homeowners are equally likely to be attracted by the benefits of reducing costs and the environmental impact of solar power as homeowners. Installing a solar system on homes shows potential buyers that they’ll get a quicker ROI on their home investment and create less carbon footprint.
WHAT FACTORS AFFECT HOW MUCH SOLAR INCREASES VALUE?
Do solar panels add to an appreciation of the house? In the majority of cases, they can. Substantially. Of course, incorporating solar panels isn’t a magic bullet that will immediately boost your equity. Many aspects are essential in determining the amount of value of solar power to your home. This includes:
Location
The cost of electricity is increasing all over the country. However, it doesn’t mean each state is experiencing the same rise. In states where electricity prices are not growing as much, the need for solar panels for homes might be more minor. In the same way, incentives offered by the government to switch to solar power could differ depending on the location.
Reliability of the local grid
Solar-powered homes are more valuable in regions where the energy grid is in poor condition or unable to handle the increasing demand. Batteries-powered solar systems ensure stability and security in the event of power interruptions, meaning homeowners will continue to receive uninterrupted electricity when the grid is down.
Home size
Typically, larger homes are sold for higher prices on the market, and a solar-powered property is bound to have a comparable rise in value. But larger homes also have a higher power consumption and could even exceed the power of a conventional photovoltaic system. In some situations, larger homes may not get as much of an equity boost through solar.
The age of solar panels
Solar power is a booming technology with more modern designs that offer higher efficiency. This greatly benefits homeowners considering installing a brand-new solar system. However, it could be a sign that older systems could be less efficient and may not significantly increase the value of your home. In addition, modern panels typically require less maintenance and have more time left to their warranty than older ones.
HOW MUCH ENERGY IT SAVES
It typically boils down to this what is the amount of energy the house getting from the grid? The more the solar panel system can show an improvement in the amount of energy consumed, the greater the worth it will bring to the home.
DO SOLAR PANEL HOMES SELL FASTER?
Many variables determine how fast homes sell, and when buyers are searching for homes with solar power, it’s safe to say that they’re more likely to buy when they come across these homes.
What is the difference? It’s hard to determine. However, it’s a common belief in real estate that solar properties are sold at a rate of 21% faster than properties that are not solar. That’s why you should not want your property to be a slum
available, installing solar panels will aid in a quicker turnaround.
DO BIGGER INSTALLATIONS FURTHER INCREASE HOME VALUE?
It might seem contradictory; however, studies have shown that more extensive solar panels aren’t always a corresponding rise in equity. This is excellent news for sellers of homes; it means that as long as the solar power system can provide the property’s energy requirements, it will result in a sufficient increase in the property’s value to cover the installation costs. Massive, expensive solar arrays aren’t required.
HOW TO GET STARTED WITH SOLAR
8MSolar, the most highly rated solar panel installation company within Wake Forest, North Carolina, is ready to partner with you. Our experts will guide you through every step of the process and help you choose the best ways to pay and the best panel layout to allow you to sit back and relax as you enjoy your ideal solar panel. 8MSolar installation experts will manage all interconnection agreements, permits, inspections, and installation and even coordinate with the HOA to ensure everything is done to standard.
A lower carbon footprint, access to low-cost power, and a higher value for your property are plenty of reasons for shifting to solar energy. 8MSolar provides easy-to-maintain solar panels backed by a 25-year and 92% output guarantee, which means that you (or those who purchase the property) can benefit from the maximum solar performance for many years.