There have been several studies over the years concerning the return on investment that solar panels represent. Berkley Lab completed a study in 2015 that indicated that buyers were willing to pay an average of $15,000 more for a home with solar panels. An analysis performed by Zillow in 2019 determined an average increase of 4.1% in selling price. These are just two of many that conclude you will enjoy a return on your investment in solar panels. The amount of value increase you can expect depends on several factors.
- Where you live- The higher the energy costs are where you live, the more likely buyers will appreciate the savings that solar panels provide. The overall acceptance and appreciation for solar energy vary across the nation, as well. Living in an area with plenty of sunshine is also helpful.
- How you market your home- Work with a real estate agent who knows how to create excitement about your home’s energy efficiency due to solar panels. For example, have them provide data on solar savings potential. Google Project Sunroof is useful for getting a solar saving estimate.
- Age of solar panels- The newer your solar panels are, the more value they’ll add to your home. Of course, just as a vehicle can sell for more when you can show good maintenance records, so will taking good care of your solar panels.
The increase in value for your Orlando, Florida home is just one reason to consider solar panels. At 3 Guys Solar, LLC, we can perform a free home energy audit and provide answers regarding how much you could save with our residential solar energy solutions. Reach out today to schedule an appointment to learn more.