Does Solar Add Value to My Home?
Investing in solar can be a big decision, it is important to ask pertinent questions before making an investment in solar electric. One of the most commonly asked questions asked before investing in a solar system is, “Will this investment add value to the resale value of my home”? The simple answer is, yes it does add value to your home.
There is a lot that goes into determining how much value is added. The factors that help determine the added value are home location, roof shade, your personal electric costs, and so much more. Each solar system will add a different type value than the next, but recent studies show that the average increase in resale value is roughly $5,911 per kW of solar installed. This means installing 5kW of solar panels can add around $30,000 of resale value to a medium-sized home in a sunny solar-friendly state like Florida.
We consulted Tampa real estate broker Thomas Corinti about the impact he has seen Solar Electric have on home values and he confirmed, “Solar energy is a great investment, homes with solar systems are valued higher and sell a bit faster than homes without.”
It is true that homes with solar systems do sell roughly 20% faster than a home without a solar system. Therefore, if you decide to sell your home, a solar system investment can help you in more ways than one. Even if you have no intention to sell, it’s still a great investment, which unlike many other investments gets you results immediately that will continue to benefit you for decades.
It is important to remember that these statistics are relevant to current housing and utility costs, but as electric costs continue to rise, the added value of solar is sure to rise as well. Solar Electric is a big decision, but also a worthwhile investment that will benefit you for the lifespan of your solar system. It’s good for your budget, and it’s good for the environment. Going green is a smart investment for so many reasons. For information on how much Solar Electric can save you and add value to your home, contact us at Florida Solar for a free no-obligation consultation today!