{"id":161,"date":"2021-12-23T10:31:50","date_gmt":"2021-12-23T10:31:50","guid":{"rendered":"https:\/\/www.mahindrasolarize.com\/blog\/?p=161"},"modified":"2022-02-16T11:46:00","modified_gmt":"2022-02-16T11:46:00","slug":"can-solar-panels-increase-your-home-value","status":"publish","type":"post","link":"https:\/\/www.mahindrasolarize.com\/blog\/can-solar-panels-increase-your-home-value\/","title":{"rendered":"Can solar panels increase your home value?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Solar energy is steadily climbing the ranks to emerge as the best and a cost effective source of renewable energy for electricity generation. With a looming climate crisis and rising electricity bills, consumers are looking for cheaper and environment friendly alternatives to maintain their current lifestyle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Switching to solar energy is remunerative in nature since it controls the carbon footprint, generates an inexhaustible source of energy and encourages savings in the long run. Plus, solar panel installations are known to increase home value!<\/span><\/p>\n<p><b>How solar can increase home value\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Solar panels are viewed in a positive light and are treated as a great green asset to your homes. Due to its multiple benefits, many people view the <\/span><b>solar rooftop system <\/b><span style=\"font-weight: 400;\">as an investment that will yield increased returns in the future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Research indicates that the more solar panels there are on rooftops of homes, the higher the value of the house with an estimated increase of almost $6000 dollars per kilowatt of solar energy. This indicates a rise of over $29,000 in the retail value of the home for a 5kW installation. Since electricity rates are constantly rising and fossil fuel depletion has hit a new record, people prefer buying houses that come installed with a <\/span><b>rooftop solar system, <\/b><span style=\"font-weight: 400;\">thereby increasing house value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Energy efficient homes also sell faster and for much higher than those which did not have solar arrays. This indicates that even if you were to move out of your home, the ROI on solar panels will be exponentially greater than your initial investment.<\/span><\/p>\n<p><b>Factors affecting the value\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Location<\/strong><br \/>\n<\/span>Your location influences the electricity generated, bill costs and sun exposure you get which can ultimately decide the rate at which the value of homes can increase<\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Local solar installation prices<br \/>\n<\/strong>Another geographic factor is the cost of getting a new system in your area. If a buyer would save money by purchasing a home with a system already installed, it will make your home that much more valuable<\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Output<\/strong><br \/>\n<\/span>The larger the<b> rooftop solar system, <\/b>greater the electricity generated meaning increase in one\u2019s home value<\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>System age<br \/>\n<\/strong>Older systems will have to account for potential depreciation over the years and may not add significant value to homes. A new, modern system will definitely fetch a higher price since the buyer doesn\u2019t have to invest in repair and maintenance immediately<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>So, how much do solar panels increase home value? Let&#8217;s take a look at some averages:<\/strong><\/p>\n<table style=\"height: 292px;\" width=\"942\">\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Home Solar System Size<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Amount Solar Panels<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Increase Home Value*<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">4 kW<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$23,644<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">6 kW<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$35,466<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">8 kW<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$47,288<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">10 kW<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">$59,110<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i><span style=\"font-weight: 400;\">*Figures based on a study by<\/span><\/i> <i><span style=\"font-weight: 400;\">Lawrence Berkeley National Laboratory.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s worth noting that these amounts are roughly in line with the total <\/span><a href=\"https:\/\/www.ecowatch.com\/cost-of-solar-panels-2652791537.html\"><span style=\"font-weight: 400;\">cost of a solar panel system<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><b>Bigger installations = More value.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Start your solar journey with Mahindra Solarize where we guarantee delivery of quality services, brand trust, round-the-clock support, reliable innovative technology, and easy financing plans to boost your home value with solar assets.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solar energy is steadily climbing the ranks to emerge as the best and a cost effective source of renewable energy for electricity generation. With a looming climate crisis and rising electricity bills, consumers are looking for cheaper and environment friendly alternatives to maintain their current lifestyle. Switching to solar energy is remunerative in nature since [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":162,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-rooftop-system"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Can solar panels increase your home value? - Mahindra Solarize<\/title>\n<meta name=\"description\" content=\"Installing solar panels will always be a good decision for your home and pocket, but do you know that it can increase your property value?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mahindrasolarize.com\/blog\/can-solar-panels-increase-your-home-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can solar panels increase your home value? 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