RESIDENTIAL SOLAR SYSTEM ADDED VALUE TO HOME
By James Kennedy, Founder and President Beach Cities Solar Consulting LLC
As our company continues to grow and moves into new markets like the state of Texas it’s important for homeowners across the country to understand that installing a residential solar system will add value to their home. While every real estate market across the country differs, many studies have been done showing that installing a residential solar system increases the value of a home upon resale. This article from the New York Times looked at a broad range of homes across the country and determined that on average a home with solar panels sold for $17,000 more than a home that did not have solar panels: https://www.nytimes.com/2015/02/22/realestate/solar-panels-and-home-values.html.
Of course, real estate markets like California, with higher electricity prices command higher premiums for homes with residential systems. In these markets it is not uncommon to see appraisers add up to $7 per watt of value to the home for a residential solar system. That means that a California home with a 10 KW solar system can expect to get a premium up to $70,000 over a home that does not have this important green feature.
While residential solar systems are becoming commonplace in many markets across the country battery energy storage systems are still in their early stages of adoption. As more and more homeowners adopt battery energy storage systems to protect their lifestyle in the event of a natural disaster or forced utility grid shutdown, we will see appraisers start to include these important home improvements in their appraisals as well.
Want to see how much money you can save with a residential solar panel and solar battery system? Get your turnkey home solar panel and solar battery proposal with ROI and financing options by e-mailing us your most recent electric bill (all pages), a picture of the electrical panel outside your home, and a picture of your roof today: firstname.lastname@example.org