Does Solar Energy Increase Your Home Value?


Welcome back to the RSG blog! Recently, on our blog, we discussed the implications that solar energy could have on your wellbeing. Though we couldn’t definitely say that solar energy makes you happier, we can made a pretty good case for it. Not only does solar energy save you money on your energy bills, which means more in your pocket and more to put toward retirement or other investments, but it also reduces the stress and other negative feelings that happen due to paying the bills. To learn more about how installing a solar array could have an influence your mood, read our last blog post. Otherwise, read on to learn more how installing solar energy could significantly increase your home value.

Ways that Solar Energy Increases Your Home’s Value

If you are installing solar panels on your home in Rhode Island, Colorado, Connecticut, California, and beyond, you probably aren’t thinking about moving anytime soon. However, it is important to consider the effects that such a house-altering home improvement project could have on your property’s value. The effects of solar energy on your home’s value depends on several factors.

Location

As the saying goes, “Location, location, location,” proves to be true once again when it comes to solar energy and the value of your home. Areas in which solar power is growing in popularity, you can expect a higher return than those that are less developed. However, don’t let this deter you! There are other factors that could affect your home’s value in relation to solar and solar power has become more affordable than ever and so has become more popular in many areas of the country.

Size of Solar Array

In this case, size does matter, as well as quality. The size of your solar panel installation will determine how much your solar array contributes to the value of your home. Why? The size of your solar panel system will determine how many PV panels are installed and those determined how much energy is generated. If you invested in quality solar panels, you can expect an even higher payout. As you are deciding what solar panel configuration you will be investing in, consider the long-term effects that it can have on your home value.

Home Value

The value of your home will also play a big part in the value that a solar array will add to your home. Homes that have a higher property value to start with will reap the most benefits of solar power’s effects on your property value. Larger homes are the ones that see the most benefit. However, with property prices rising in high-demand areas, those homes that aren’t considered “large” may see a boost in value as well. As your property value increases, the value that solar adds to your home will rise proportionally, and the addition of solar could help you sell your home significantly faster.

Installing solar panels on your home can provide significant returns and those returns start as soon as you install your solar array and continue throughout your use of the system and beyond when you are considering selling your home. The return on your investment when you install a solar array can average 200 percent. If you are considering installing solar, RGS can help you not only find a system that fits your needs, but also find a payment plan and offered incentives that fit with your goals. Contact us to learn more about our solar panel and solar energy solutions.

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