Do Solar Panels Devalue Your House? (The Answer Is No)

Are you thinking about adding solar panels to your home but are worried about it decreasing your home’s value? Don’t fret! Recent studies have shown that having solar panels actually increases your value.

Keep reading to learn more about the benefits of adding solar panels to your home and how they could end up getting you money back in the long run.

Solar Panels Rising In Popularity

Solar panels have become incredibly popular amongst homeowners in recent years.

As more people have become environmentally conscious, more people have been investing in buying solar panels for the home to utilize renewable energy, as well as buying Tesla solar panels and RV solar panels.

Federal and state governments have given people financial incentives to encourage the use of solar panels at home. These incentives include the solar tax credit. The government will let you deduct 26% of the installation cost for your solar panels from your federal taxes.

Other states offer additional financial incentives. For example, Massachusetts allows you a personal income tax credit of $1,000.

Along with government financial incentives, solar panel owners save even more money due to the amount of energy they save. Homeowners that use solar panels can save 10 to 40% in energy costs!

Not only are you lowering your utility bill, but you’re also lowering your carbon footprint. Studies show that a year of using solar panels equates to removing a year’s worth of a car’s fossil fuel emissions.

Solar panels not only help the environment but also help cut down on energy bill costs. The money you save on energy bills is definitely worth the solar panel cost.

Looking to cut down on energy costs and increase your home’s value? Contact Blue Raven Solar to learn more about how solar panels can increase your property’s value! They also have solar panels for sale!

Save Energy, Save Money

As more people are adding solar panels to their homes, the question arises: how does this affect the value of my home?

Studies have shown that having solar panels on your home does indeed increase the value of your home. According to research, 80% of buyers are looking for homes that are energy efficient.

Because of this, there are several states where the addition of solar panels can increase your home’s value by between 3.5 and 9.9%. New Jersey currently has the highest value increase with 9.9%.

This equates to $32,281 for the average-priced home! Pennsylvania offers the second-highest percentage increase with 4.9%.

Other states that offer the highest price increase percentages include North Carolina, Louisiana, Washington, Florida, Hawaii, Maryland, New York, and South Carolina.

This is why many people are incentivized to spend the money on buying solar panels upfront rather than leasing them.

Surveys from the U.S. Department of Energy show that homebuyers will pay more for homes with solar panels.

Value increases for homes with solar panels are also most common in metropolitan areas. This includes places such as Orlando, FL, San Francisco, CA, and New York City.

According to Zillow analyses, a home will never decrease in value because of having solar panels.

Good for Your Wallet and Good for the Planet

Adding solar panels to your home is definitely worth the purchase. You’re lowering your utility bill, minimizing your carbon footprint, and increasing your home’s value. It’s a win-win!

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