Coming home to turn on lights powered by solar is a good feeling. Many of our customers have told us, “My home reflects my sustainable lifestyle.” Clean energy also does not release toxic chemicals into the environment. Solar increases the value of your home.
In a study, performed by the U.S Department of Energy in 2015, by analyzing the pricing of homes in 11 states over 11 years, it was determined that solar sold at higher equity than homes with traditional energy.
In the article, important factors are location, size of the system, and the value of the home.
We also discovered, for every 1KW installed, your home’s value will increase by $5,900 on average.
A 5KW system will increase your home’s value on average by $29,500. Your solar installation is worth as much as a backpacking trip across Italy.
The cost of maintaining the traditional electrical grid is growing. Maintaining traditional electricity infrastructure is very expensive. Solar-powered homes are becoming more valuable over time due to this.
Your Home Will Close Faster
A huge worry for some homeowners is, “what happens when my home goes on the market?”
20% of homes with solar sell faster than homes without. NREL determined in a study that homes with solar are more appealing to the next generation.
Zillow offers a solar score for every home listed for sale on their website. The solar score determines how solar-friendly each posted home is on the listing.
All prospective buyers who go on Zillow can see if the home they are qualifying is ideal for solar the higher the number out of 100.
According to Zillow, “homes with solar-energy systems sold for 4’1% more on average than comparable homes without solar power.” Any home over $180,000 will increase in cost on average by 4%. https://cleantechnica.com/2010/10/23/solar-homes-sold-20-faster-and-for-17-more-nrel-study-finds/
Determining the Value of Your Home’s Solar
On a Zillow listing, under “See more facts and features”, you can find a Sunscore that ranks the home for sale for solar.
If you sell your home, you will be able to close on your current house much faster with a higher asking price. Take the money and invest it into your dream home with solar!
Solar Is Worth It
GenRenew offers 25 years of industry-leading experience in solar. Chris and Mike, the founders of GenRenew, want to spread awareness about the benefits of solar.
However, understanding that your home’s equity value will increase with solar is essential. We want all our customers to be able to advocate the benefits of solar to friends and family. Share this article!