Does Solar Increase Property Value?
According to the National Renewable Energy Laboratory (NREL), each additional $1 in energy savings (from your solar installation) increases property value by $20. The exact numbers on solar increase property value vary from property to property and from region to region (a solar installation in Kentucky vs a solar installation in Texas), but this recent research shows an average increase in property resale value being $5.911 for each 1 kilowatt (kW) of solar installed. A small installed 3.1kW solar array system can add an average of $18,324 to the property value of a medium-sized home. Many young first time home buyers have mentioned that having solar installed on a property for sale is a added benefit which would be a deciding factor over a property that did not have solar. Lastly, not only does solar increase property value but when it comes time to sell your property studies have shown that your property will sell faster. What are you waiting for?