Does Solar Increase My Home’s Value?
Solar panels have many benefits for homeowners, from potentially eliminating your electric bills to drastically reducing your carbon footprint. As solar is a smart, long-term investment, homeowners often ask if solar also increases a home’s value.
It’s true, you can increase your Arizona home’s value with a home solar panel installation. So, not only will you get to enjoy the benefits of solar energy while you’re living in your home, but you could also see an excellent return on your investment if you ever decide to sell it.
How Much Do Solar Panels Add to the Value of Your House?
According to research conducted by Zillow, homes with solar systems sell for 4.1% more than comparable homes without solar. When looking at the median home value, this translates to an increase of $9,274—who wouldn’t want that kind of extra money in their pocket?
It is, however, important to keep in mind that value increases for houses that have solar panels depend heavily on the current local real estate market.
Houses With Solar Panels Sell Faster!
Houses with solar energy systems don’t just sell for more—they also tend to sell faster. Many home buyers are interested in the financial and environmental benefits of solar energy and buying a house that already has solar panels installed means they can enjoy those benefits without having to deal with the installation process. This is an enticing selling point that can help attract buyers and get you offers, faster.
An Arizona Solar Installation Won’t Increase Your Property Taxes
Thanks to the Energy Equipment Property Tax Incentive, Arizona homeowners don’t have to worry about solar panels or solar batteries increasing their property taxes. According to this incentive, residential solar energy systems are exempt from property tax assessments in Arizona.
And that isn’t the only solar incentive available to Arizona homeowners with solar panels! When you have solar panels installed, you’ll also qualify for the federal solar tax credit, helping make your solar panel installation more affordable.
Further Increase Home Value With Efficiency Improvements
Homebuyers are increasingly interested in sustainable, energy efficient homes, and investing in “green” home improvements can help increase the overall resale value of your house. Solar panels are a huge part of “green” living, but there are other energy efficiency upgrades you can make to increase your home’s value as well. Examples of these include installing energy-efficient appliances, upgrading your insulation, and installing a smart thermostat.
These kinds of improvements will make your home more comfortable and energy efficient while you’re living in it, and they’ll also make it more attractive to buyers should you ever decide to sell your home.