Solar panels are a hot topic these days and for a good reason. Not only can they slash your home's utility bills, but they might also boost your home's value.
Let's explore how going green with solar can put some green in your pocket.
What are the benefits of solar panels for home value?
Installing solar panels can increase your home's property value by around 4%, according to Architectural Digest. In practical terms, if your house is worth $400,000, adding solar could tack on an extra $16,000 to the sale price.
The exact boost varies depending on where you live, your local electricity costs, and the age and quality of your panels. But in most cases, solar is a smart investment that pays you back in energy savings and higher home value.
Why is solar's effect on home value important?
Solar's value-add matters because it's a perk for both you and future buyers. If you're planning to sell down the road, solar can make your home stand out and command a premium price.
Eighty percent of homebuyers say energy-efficient features have become more important, according to KnightFrank Research. Plus, a study by Berkeley Lab found that buyers are willing to pay around $15,000 more for a solar home. That's a big incentive to slap some panels on your roof.
But the benefits aren't just about the benjamins. Going solar is also one of the best things you can do to save on energy costs and reduce harmful pollution.
Want to see how much cash you could save with solar? Check out SaveOnEnergy's nifty tool to get a custom quote.
How to maximize your solar investment
To get the biggest bang for your buck, choose high-quality panels and keep them in mint condition. It also helps to own your system outright rather than leasing it.
You can defray the upfront cost with solar incentives like the federal tax credit, which knocks 30% off your investment. Certain states and cities sweeten the deal with rebates, too.
As detailed by Architectural Digest, more solar perks to consider are net metering, where you sell excess energy back to the grid, and installing a solar battery to store energy for later use. Both options can amplify your savings.
The takeaway on solar and home value
When you crunch the numbers, solar is often a no-brainer for your wallet and the environment. It's a smart way to invest in clean, affordable energy while making your home more valuable and marketable.
No single solution is a silver bullet against atmospheric pollution, but solar is a key piece of the puzzle. Overall, it just makes sense to start exploring your solar options to cut down on those monthly electric bills sooner, especially when the return on investment in home value is looking so solid.
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