Solar Panels are full of long term benefits.
If you’re going to live in your home for a long period of time, then you have a lot of advantages to harvest.
Not only do you save a lot of money by eliminating your electricity bills, but you can also add monetary value to your home.
Homes with Solar Panels mean they do not need to rely on the grid, especially if you have batteries installed with it.
This will make you safe from any blackout.
A good battery pack can power you up for up to 7 days in case of a blackout.
This can make your home really stand out in case you ever want to sell.
Zillow researchers found that the average house in the US increased value by 4.1% when it had a solar panel system installed.
The average added monetary value can range from $8,000 up to $59,000 in some US states.
Save More If You Live in These States
San Francisco, CA, has an average of 4.6% added value to its homes that have solar panels installed.
Orlando, FL, is averaging around 4.6% added value.
And New York, NY, is peaking at 5.4% added value.
To put this into perspective, if your home is worth $200,000, you can sell it for $208,200 minimum after you’ve installed solar panels.
In New York, though, where homes average at a price of $660,000, you can list your home for up to $695,600.
That’s more than a $35,000 price increase.
Homes in San Francisco have seen some of the highest added values to its solar-paneled homes.
Averaging at around $1,355,200, having solar panels installed would allow you to sell for $1,414,828.
You just added more than $59,568 to your listing price.
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How We Know This
Zillow observed similar houses sold during a period of time, and compared their listing prices.
The only difference between the observed homes was that some of them had solar panels installed, and some did not.
This analysis showed that all houses that have solar panels were sold for a much higher price than those that did not have them.
Zillow shared an analysis article on their website back in April of this year. And it was even shared by Elon Musk on his personal account on Twitter.