Solar Panels Increase Home Value

Posted by Amy Guinan

Mar 18, 2015 8:00:00 AM

soalr_home-1Solar pays for itself in some impressive ways.  According to new research sponsored by the Department of Energy, buyers are willing to pay significantly more for homes with solar panels installed.  Yearly electricity savings, options to feed electricity back into the grid for credit and a higher home resale value all prove solar is a savvy investment. 

The study, conducted by the Lawrence Berkeley National Laboratory in California, found that homebuyers were willing to pay $15,000 more for a home with an average-size solar photovoltaic system (3.6 kilowatts or 3,600 watts) compared with a similar home without one

More homeowners have been installing Solar PV systems as the cost of solar technology dropped over the last decade. As of mid-2014 more than a half-million homes had solar systems, according to the report.

At a time when real estate prices seemed to have leveled off, solar panels on your house can be a great way to lower electricity costs now and boost your home's value in the future. 

California solar installationsMassachusetts solar installations and New York solar installations lead the country as some of the states with the most solar panel installations. 

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