Like with most home improvements, the exact numbers on how much value solar panels add to a home vary from property to property and state to state. But there’s no debate they do, indeed, increase a home’s worth.
In 2020, California became the nation’s first state to require solar panels on the roofs of most new homes to reduce wasteful and unnecessary energy consumption. But existing homes can benefit from going solar, too, and here’s how.
Benefits of Going Solar
Did you know that when an average American home goes solar for a year, it helps avoid adding more than 12,500 pounds of carbon dioxide to the atmosphere? It’s also equivalent to:
- Growing over 120 tree seedlings for a decade.
- Not burning more than 8,000 pounds of coal.
- Driving approximately 18,000 fewer miles.
- Not charging close to a million smartphones.
These benefits add value to every Californian’s quality of life. The bonus you can also receive in increasing your home’s value makes installing solar panels one of the wisest home improvement decisions you can make.
Studies Find Solar Power Adds Incredible Value to California Homes
The research focused specifically on the connection between solar panels and increased home value consistently shows that solar panels and battery storage can increase a home’s value in the real estate market. One, conducted by tech real-estate marketplace Zillow, revealed homes in Northern California with solar panels sell for approximately 4% more than those without them.
Even better, solar’s property value advantages only increase as you scale up. And since electricity prices tend to grow year to year, the benefits of solar energy rise along with them.
Installing solar panels can also help a home sell faster, a considerable advantage in volatile real estate market periods.
Factors that tend to influence solar energy’s added home value include:
- Region of the country
- Solar installation prices
- The local cost of electricity
- Frequency of power outages
- Understanding of solar technology
Homeowners who want to sell their homes after installing solar energy should keep in mind that potential buyers will most likely want to see documentation showing the installation was done correctly by a reputable solar company and is backed by a solid warranty.
A Move Toward Green Living
As California moves away from its dependence on fossil fuels, electricity demand is expected to triple. Along with onshore and offshore wind, geothermal, and hydrogen, solar will play a significant role in helping the state meet its commitment to carbon-zero energy by the end of 2045. But it’ll take a lot more investment, as today’s 11,000 megawatts of rooftop solar production must grow to 45,000 megawatts in that time. To put those numbers in perspective, consider that it takes about one megawatt of solar energy to power about 190 homes.
Aside from increased real property value, homeowners can benefit financially in other ways when they invest in solar, including lower monthly electric bills, tax incentives, and rebates for new installations.
For more than 20 years, Simply Solar has custom-designed and installed solar panels for California homeowners. We’re the state’s leading solar installation company and are committed to ensuring your home’s equipped with top-quality solar products installed by skilled professionals.
Make the switch to solar power today to save money on energy costs, contribute to a greener environment, and increase your home’s value. Call Simply Solar at (707) 285-7037 or contact us online for more information.