Do Solar Panels Increase Property Value?

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Whether you own a home or business, property value is of the utmost importance to you. Even if you just moved in or launched your business, you must always consider the fact that you might sell in the future. Therefore, you prioritize the consideration of how property investments impact property values. Read on to learn how investing in solar panels increases the value of your home or business property. 

At Renewable Energy Design Group (RED Group) we want to educate you on all facets of solar energy, including how it enhances property values. Today’s blog provides critical information for any property owner interested in investing in solar energy. Ready to learn even more about solar panels and request a free solar energy consultation? Give us a call at 877-432-0857 and we are happy to assist you in all your unique solar energy needs. 

Are Solar Panels a Positive Property Value Investment?

This is one of the big questions that is on any property owner’s mind when they consider investing in solar energy. Luckily, the answer is yes!

According to CNBC reporting, both North and South Carolina were in the top 10 states for increasing property value through installation of solar energy. North Carolina homes with solar panels increased the value by “4.8% or $8,996 for the median-valued home.” Meanwhile, South Carolina homes with solar panels increased the value by “3.5% or $5,866 for the median-valued home.”

Additionally, the Office of Energy Efficiency and Renewable Energy found that home buyers were usually “willing to pay a premium of about $15,000 for a home with an average-sized solar array.” Furthermore, their findings also concluded that homes with solar panels sold faster than those without solar panels. 

Why Do Solar Panels Increase Property Value?

The data above proves solar panels do indeed increase property value, but it fails to answer why this is true. There are a few reasons behind why solar panels increase property value.  

First, solar energy is more popular than ever right now. This is partially because solar energy is more affordable and accessible than ever before, according to the Office of Energy Efficiency and Renewable Energy

Secondly, we’re all increasingly aware of the broad scientific consensus that our actions are contributing to climate change. We know some of our world’s resources are limited, but solar energy is an unlimited, clean, and renewable source. People are all increasingly stepping up to do their part to reduce our carbon footprints and help our planet. Home and business owners love that solar energy allows them to help the environment every single day – while saving money and increasing their property values.

Finally, property value is determined by the changes and investments you make to your home and business. Therefore, it is only natural that adding a solar energy system that lowers energy costs is deemed an increase to property value. 

Get Ready for Summer by Investing in Solar Panels Now!

Solar panels allow you to not only invest in the future and reduce energy costs, but also increase your home’s or business’s property value. Are you ready to request your free solar energy quote? Call RED Group today at 877-432-0857 or fill out the quote request form on our website to begin your solar energy investment. Don’t forget to check us out on Facebook and Instagram for the latest solar energy news and information.