Improve the Value of Your Home Through Solar Panel Installation

A small house sits next to stacks of coins that increase in size similar to a rising bar graph representing raising home value.For investments to be worthwhile, they must return more than they cost. A strong case for solar energy is that it ends up paying for itself. All upfront costs end up getting taken care of through a lowered or eliminated energy bill. Over the life of the system, customers end up making 2-3 times the investment. 

That sounds smart, but many homeowners are still hesitant to move forward because they fear they won’t be in the house long enough to get the big pay-off. However, there is good news; installing a grid-tied solar energy system will boost your property value, increasing your selling potential. Even without living in your house to break even on your installation price, the extra money you get from the sale will more than make up for it.

Going by the Numbers: Increase of Up to 4%

According to the housing website Zillow, homes with a solar power system installed sell for up to 4.1% higher than homes without a solar power system. 

Another study was taken focusing on sale prices of over 22,000 homes in six states to draw links between solar power systems and home resale value. The research found that PV homes (those with photovoltaic systems) sold for an average of more than $14,000 or 3.74% more than homes without PV systems. 

Homeowners can reasonably expect to regain any investment in the system installation when they are ready to sell the house, even if they choose to move within a year or two. Added to that are the tax incentives and lowered energy bills in the meantime. 

Some states don’t factor a PV system into the value of a house, meaning your property taxes will not increase. Make sure to check your local laws. 

Two Considerations for Solar Power and Home Value

Installing a solar system for your home helps out your home value - good! But consider the following:

Keep Your System Small

PV homes sell at a premium, but that does not scale to the wattage or power they produce. More powerful systems did not drive prices up in proportion to their installation cost. So homeowners will pay more for a “green home,” but not shell out the big bucks for a more robust system. This reality might mean installing a moderate system that goes back to the grid for power during heavy usage periods (i.e. during the super hot, A/C necessary days).

Newer Systems Get You More

As with most tech, a newer system will bring home a higher resale price. As your system ages, it depreciates. There will be necessary replacement parts, and the system will get closer to the warranty cut off. 

Michigan Solar Solutions brings solar options to Michigan’s residents and business owners. We have three sites across Michigan to serve our regional communities better. Give us a call to learn more about your solar options at our Southeast Michigan location at (248) 923-3456, our Southwest Michigan at (616) 855-5055, or our Central/Northern Michigan (989) 833-5333 or find out if Solar is Right for You by clicking here.


Written by Admin

3 Reasons to Care About NABCEP Certified Solar Installers

Every company sources products and services essential to running their operations and maintaining their offerings. Many companies have sourcing policies that require thorough vetting of suppliers to ensure they meet...

4 Powerful Ways Michigan's Cannabis Growers Win with Solar

The cannabis industry has grown from out of the weeds to become an intricate supply chain employing growers, distributors, retailers, and all the industries that support their business. All of these businesses require...

How to Easily Access Your Electricity Bill

When you’re considering installing solar, knowing your electricity costs and usage pattern is crucial to determining the right solar array for you. Michigan Solar Solutions uses a 12 month period of energy usage to size...

How to Be Sure Commercial Buildings Are Not Being Overcharged for Electricity

Every business that occupies a building uses electricity. Whether electricity is used for computers, lights, manufacturing or to power a fleet; electricity is integral to performing day to day functions. However, as the...

The Average Return on Solar in Michigan is Over 10% Per Year

Michigan Solar Solutions - Solar Panel Installation Company - icon-sun

Want to discover how much you’ll save?

Using only satellite imagery and your most recent electric bill, our solar experts can provide a detailed proposal with up to 98% accuracy. The best part is there’s zero obligation and zero pressure. We’re confident once you see what you can save, you’ll upgrade to solar.

Is Solar Right for Me?