Logically, it’d make sense that the solar home’s value would be significantly higher than the home without solar panels. But the question is by how much more?
According to the Office of Energy and Renewable Energy (EERE), you will be able to significantly increase your home’s value when you install a solar energy system. Research indicates that the more solar panels there are on the roof, the higher the value of the home – with an estimated increase of almost $6,000 per kilowatt of solar energy. This indicates a rise of over $29,000 in the retail value of the home for a 5-kilowatt installation. Several buyers across the country will be willing to pay approximately $15,000 more for a home equipped with an average-sized solar panel.
Since the price of electricity is expected to rise in the future, the advantages of having home solar power will become even more evident.
Benefits of Solar Panels
1. Gives You Control Over Your Electricity
A solar-powered home battery will also give you freedom from the next blackout. Home solar panels and a home battery can offer freedom from the utility companies with predictable electric bills. This helps you avoid peak electricity rates and provides reliable backup power when the grid goes down.
2. Selling Quickly Is Part of the Equation
Having solar panels installed on a home can make it sell more quickly. Compared to other homes without solar power, your home could sell up to 20% faster. This too, is part of the value that solar power can add to your home and your life.
3. Provides Clean, Renewable Energy
Home solar is a clean, emissions-free and renewable energy source. Unlike fossil fuels, such as coal and natural gas, home solar doesn’t release harmful pollutants or greenhouse gas emissions – like carbon dioxide – into the air and water supply. Renewable energy technologies are the key to a cleaner and brighter future for all.
Are you interested in getting solar energy to power your home? Go solar with BSR! As a GAF Master Elite® Certified exterior services contractor, BSR is proud to offer GAF DecoTech® Solar Panels, an integrated solar roofing system that offers a more seamless look than the typical rack-mounted system.
BSR would be happy to answer your questions about going solar and provide you with a free estimate. Contact us at (607) 722-7221, or fill out our online form to get started. BSR is proud to serve businesses and residents in Binghamton and Vestal, NY.