How Installing Solar Panels Increases Your Home Value
Many Utah homeowners don’t realize the dramatic effect solar panel installation has on home value.
When you invest in photovoltaic power, your property will be worth more – and the jump in home value is significant. Whether you want to build equity or get more money when you put your house on the market, installing a solar panel system can help you achieve your goal.
Home Buyers Want Solar Panel Systems
Today’s home buyers look for properties with energy-efficient upgrades, and solar arrays are among the most desirable improvements.
Buyers know that photovoltaic power pays in the form of lower monthly electricity bills, and many are willing to pay a premium for homes that already have solar panel systems in place. So if you ever decide to sell, your property will fetch a higher asking price. Plus, since buyers want solar-powered properties, you can expect your home to sell pretty quickly.
How Much Solar Panels Boost Home Value
Your home value will significantly rise after you adopt photovoltaic power. The exact amount depends upon which part of Utah you live in and how much energy savings the solar array provides, as well as the size, condition and current worth of your property.
However, according to research through the U.S. Department of Energy’s Lawrence Berkeley Laboratory and Sandia National Laboratories, each watt of installed photovoltaic capacity can add an average of $4 to the value of a home.
So, if you install a 5 kilowatt (kW) solar array, the average size of a home system in Utah, you’ll generate 5000 watts of photovoltaic power. Do the math -- $4 per watt x 5000 watts – and you’ll see that your home value can increase by a whopping $20,000.
Why Solar Panels Are a Smart Investment
Your increase in home value may be enough to completely cover the cost of installing a solar array, but photovoltaic power is a smart investment for several other reasons.
Energy savings – You’ll enjoy lower electricity bills right from the start, and as utility rates rise, your savings will grow.
Quick payback – You’ll reach the break-even point on your solar array in as little as a handful of years.
Guaranteed performance – You’ll generate electricity for your home for decades, as solar panels can operate years beyond their 25-year warranty date.
Low maintenance – You’ll hardly ever have to even think about your solar array, beyond giving it a visual check with a pair of binoculars once or twice a year.
Are you interested in having a solar-powered home? PRVL Energy, a leading northern Utah photovoltaic provider, can install a high-performance, cost-effective solar array that meets your energy needs.
As one of Utah’s only SunPower Elite Dealers, the PRVL Energy team has extensive expertise helping homeowners maximize their return on investment in photovoltaic power. For more information, or to schedule a free, no-obligation consultation to discuss solar panel installation, contact us today.