An important question for any homeowner considering the installation of solar panels is this: Will solar panels increase the value of my home? To answer this question, Solaron of Sacramento would like to point you towards a study by the prestigious Lawrence Berkeley National Laboratory. This study, entitled “Selling Into the Sun”, compared more than twenty thousand different home sales, including some four thousand homes with solar panels installed. The results demonstrated that photovoltaic systems definitely increase the value of a home. To quote the writers: “Home buyers consistently have been willing to pay more for a property with PV.”
How Much Value?
It’s important to note that this study only considered homes where the owner purchased the solar system outright – leased systems were not included. And as you might expect, much of California was involved in the study, including Sacramento. Systems and houses of all types and sizes were considered and the report factored in the effect of variables in house types and locations.
What the researchers found is that for every watt of power generated by a home solar system, the value of the house was increased by an average of four dollars. This means that the average solar system adds about fifteen thousand dollars to the resale value of the home! This beneficial effect continued to increase with increasing power capability, up to the largest homeowner systems with 10 kilowatts of generating power.
Don’t Forget the Money Saved
While increasing age reduced the effect of the photovoltaic premium, it’s important to remember the value of the money saved over time. Every year, homeowners save significant dollars on their home electricity bills thanks to solar panels. Factoring in these cost savings, year after year, significantly adds to the value of a solar system investment.
For more information about how your home can benefit from solar panels installed by Solaron, please contact one of our trained and friendly representatives at 916-631-9293.