How Much Value Do Solar Panels Add To House

Plenty of solar companies like to quote the savings you ll generate on the hottest and longest days of the year.

How much value do solar panels add to house. This system will save the family 54 000 assuming a 5 yr historical rate increase. Says top 1 real estate agent thomas braunagel of bridgeport ct anybody can quote this super efficient july 15th but what really counts is when you average it out over the course of the year and this means factoring in the rainy months and. A typical 7 kw solar system wiping out a family s electric bill runs roughly 14 000 out of pocket expense after incentives. The national residential solar system average of 5 kilowatts kw generates 5 000 watts of power.

How much can you expect to save with these panels. On average solar panels raise a home s value by 4 1 across the u s according to a new zillow analysis of homes across the country that s a boost of 9 274 on a 226 300 home according to the study. Don t assume that solar panels automatically add to your resale value solar panels can make a home more attractive to a particular set of buyers and help get an offer sooner and perhaps at a higher percentage of the list price says dan hamilton a top selling agent in palm desert california. This would increase the value of the home by 24 000.

According to energysage if you buy a system and are current paying 100 a month for electricity you can save an estimated 35 900 over the next. Installing solar panels on your home makes no difference to how much it s worth according to two thirds 67 of estate agents. Just 8 of estate agents said they thought solar panels increased property value. A solar equipped home could potentially add about 3 x 5 000 watts 15 000 to a home s value.

The berkeley lab study says that each watt of installed solar capacity adds around 3 to a home s value. Installing solar panels in a home not only helps to reduce current monthly utility bills. Solar panels and green homes are becoming increasingly more common in the marketplace. It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels.

A 5 kilowatt kw solar system the national average will offer 5 000 watts of power. Thus a home with solar should sell for about 4 x 5 000w 20 000 more in ca or still 3 x 5 000w 15 000 more outside of ca. If you ve seen a rise in solar panels in your area consider taking the first step toward competency in the valuation of this energy efficient feature of real estate. Determining the value of solar panels is an issue that has many appraisers asking questions.