According to the US Renewable Energy Lab, every $1 saving in energy bills from solar installation adds up a staggering $20 to the total value of the property. Further, New Jersey solar panels for your home yield greater returns, as this state has a well-developed solar market. Solar power for your home can boost its property value. This also depends on the size and quality of installations, with the number as well as type of solar photovoltaic panels installed adding to your property’s worth. If you are planning a home solar electric system, here are the benefits that it can fetch you in terms of adding to your property’s market value.
Money Power: Increase in Resale Value for Solar Energy Equipped Homes
Research has shown an increase in resale value on an average works out to about US$5,911 for every single kilowatt of solar power installed. A small 3.1 kW system can contribute as much as $18,000 to $20,000 to the value of your property or home, depending on which state you are in. As the solar energy plan is scaled up, the property's value escalates. For example, a 5-kilowatt solar panel adds US$29,500 on an average, to a medium sized home’s retail value.
As the price of electricity shoots up, powering your home using solar energy will only get you better prices for your home.
Speedy Sales For Solar Power System Fitted Homes
In addition to fetching a higher market price, solar panels can also help you to sell your house faster by as much as 20 percent as against homes lacking solar installations. Reduced waiting time and paperwork are the benefits of installing solar panels in homes or properties meant for sale.
A Wide Investment
Installation of solar panels is among the wisest and most secure investments that can be made. Enjoy savings in electricity bills across the 25 to 30 years your solar photovoltaic system lasts. Utility rates will only rise, adding to electricity bills over time. So, solar installations pay for their value exponentially many times over as opposed the initial cost incurred. If you are selling your home or just looking to increase its property in the market, prospects are bright if you opt for solar panel installations. The higher premium of selling solar energy fueled homes is that it upfront covers the cost of solar panel installation.
With a well-sized installation, you can get a return of over 200 percent or more, far in excess of a hot stock tip or cold, hard cash business profits.
Save Electricity Bills, Add Value to Your Home
The biggest advantage of solar installations is the electricity bill savings. As solar energy is a modular technology, each new KW of installed power capacity yields more savings on the utility bill. Solar energy has made it possible to owe your local utility absolutely nothing. Generating passive income in states like New Jersey, solar powered home and business property owners are offered generous incentives for using clean, and green technologies like solar energy. This is either through direct cash or credits.
From Zero to Hero
Now, solar powered homes don’t just offer electricity bills worth US$0. You can even have a utility bill on the negative side. Get paid for adopting clean technologies and secure higher returns on your property value. As solar energy saves on the utility bill, this investment pays over 25+ years long lifetime of the installation.
Higher Asking Price, No Questions Asked!
Solar energy also fetches a higher asking price, when it comes to selling your home. Average installation on a property worth 500 thousand dollars is US$20,000 or more. This amount exceeds the cost of residential solar installations, ensuring 100% cash back. In contrast, even remodeling your home will only increase its value by about 50-60 percent. Solar energy is so cost efficient that when it is time to sell, retrieving the investment is easier on account of higher asking prices. So, head out to top solar panel installation provider and solar solutions vendor SambaEnergy and enjoy the benefits of solar power. Add to your home or office property’s value today, by installing solar power panels.