Most of us at one point or another will hear of a friend, family member or loved one investing in solar energy and solar panels.
But why? What’s the catch?
Well, there’s no catch, and the renewable energy revolution has only begun. There are also many benefits to investing in and installing solar panels…one of which is how they increase the value of your home.
According to The Office of Energy Efficiency and Renewable Energy, installing a solar system will most likely increase your home’s value. “Buyers across the country have been willing to pay a premium of approximately $15,000 for a home with an average-sized solar array.”
The cost of a solar system, according to journalist Kim Dinan, may vary, and the money you can potentially save by installing a solar electricity system varies, too. “The savings you’ll accrue depends on your local electricity rates.”
And according to research and many national studies, it’s been proven time and again that homes that have solar panel systems installed are, more often than not, valued and sold at “prices above similar homes in their area.”
Solar panels increase homes’ values approximately by 3-4%.