Will Solar Panels Increase the Value of My Home?

Solar Panels

Every person with their property on the market is after the best price with a quick and easy sell. For this reason, it’s essential to make your home attractive to potential buyers.

One way to make your property more appealing is by installing a solar power system. Many buyers are actively seeking out homes with them installed for a variety of reasons.

If you talk to real estate agents, they’ll inform you of the difference between adding value to your home or just making it more expensive. For example, costly upgrades such as external landscaping and installing a swimming pool might make your outdoor space more attractive; however, they are unlikely to bode well with potential buyers who want properties that are easy to maintain.

Moreover, nobody wants to spend a lot of money immediately after paying the buying price for a home, regardless of its features.

On the other hand, solar panels require little maintenance. If you ensure they are serviced and kept clean, they can serve you for up to 25 years. During this period, buyers know that they can save money on their electricity bills while being eco-friendly.

Solar Panels1

Types of Solar Panels

The two types of solar panels available in the market are silicon panels and thin-film panels. The former has two subcategories, namely monocrystalline and polycrystalline. These have an efficiency ranging between 18% and 22%.

Thin-film panels, on the other hand, are used on small devices, such as calculators and watches. They’re less efficient, with a maximum effectiveness of 13%.

Solar System Options

When installing a solar energy system in your home, you often choose between grid-connected and off-grid systems.

Grid-connected systems are popular and more affordable than off-grid systems. This is because you don’t require batteries for storing power when the sun is unavailable. You also sell any excess electricity you generate back to the utility company.

The Cost of Installing a Solar Power System

Due to the advancement in the solar industry, the cost of installing solar power systems has dropped significantly in recent years. This is one explanation of why many homes now use this as their primary form of energy.

How Much Does It Cost to Purchase Solar Power Systems?

The installation cost depends on the size and type of your system, as well as your location. In addition, some state governments offer discounts that allow you to acquire solar equipment at a lower price or get rebates for existing systems.

Solar Panels2

How Much Does Solar Power System Maintenance Cost?

Solar panels don’t require regular maintenance besides occasional cleaning to prevent dust on the glass surface. You might also need to purchase new batteries every five years if you’re using an off-grid system.

Apart from maintaining the efficiency of your panels, cleaning can help in keeping your warranty intact.

Wrapping Up

Research shows that for every $1 you save by reducing your utility bill, you increase the value of your property by $20. This means that a solar system that saves you $500 increases your home’s value by $10,000.

The problem, however, is that most potential buyers aren’t able to quantify the value of solar panels. For this reason, take time to identify a buyer who understands the benefits of this form of energy.

Nonetheless, solar panels are eco-friendly and help in reducing your electricity bills. More importantly, they require little maintenance and last longer if you don’t expose them to adverse conditions.

Will Solar Panels Increase the Value of My Home? was last modified: by