Homeowners looking to increase the value of their properties may want to consider installing solar panels. According to data from Solar Reviews, a platform that helps consumers compare solar companies across the U.S., houses with solar panels tend to sell for 7% more than those without.
For example, a home valued at $450,000 could see a price increase of about $31,500 with the addition of solar panels. Given that the average cost of installing a residential solar system is around $19,000, this potential increase in home value could not only cover the installation costs but also provide the homeowner with an additional profit of $12,500.
Research also suggests that homes equipped with solar technology not only sell for higher prices but also tend to sell faster. According to Rocket Homes, properties with solar panels spend about 13% less time on the market compared to homes without them. This trend could be linked to the growing attention and interest these energy-efficient features bring to property listings.
Supporting this, a survey by the National Association of Realtors found that nearly two-thirds of real estate agents observed increased interest from buyers in homes that offer energy-efficient features, such as solar panels. This sentiment is echoed by a Davidson Homes poll, which reported that 50% of homebuyers consider energy efficiency to be the most important feature when purchasing a home.
