Do Solar Panels Increase Home Value In Colorado

Not only can adding solar panels to a home save energy costs and help the environment it also can potentially increase a home s value.

Do solar panels increase home value in colorado. 3 minutes installing solar panels can significantly increase your property s value according to a new study from the lawrence berkeley national lab lbl. If there are 2 identical homes and one has lower utility bills due to solar a buyer may prefer that one over the other but won t pay a premium for it. Buyers simply are not willing to pay more for a home with solar. Solar panels are one of those tricky things we all like to believe increase the value of a home.

After all they save homeowners a ton of money right. Do solar panels increase home value everywhere. Keep in mind the numbers above are based on an average home in colorado. In addition to all that cash and home value you ve created some green for the earth as well by not using electricity from fossil fuels.

Multiple studies have shown that homes with solar panel systems are valued and sold at prices above similar homes in their area. Installing solar panels on your home can reduce your energy bills and potentially add to your home value. Home saw a 4 1 gain in value that boost varies from place to place. Early studies focused on established solar markets such as california found that home values increase by four percent or more when homes are equipped with solar panels.

With a home solar installation the buyer could potentially receive a 200 return on the sale price premium. Tanner halbig at a meeting i heard a representative of a large well known company tout how homeowners could get free electricity. Says real estate agent aaron zapata of inman according to fha and fannie mae whether solar panels add value or are viewed as a liability is still unclear. The study controlled for the home s attributes like bedrooms bathrooms square footage age and location to determine an area s solar panel boost.

While the average u s. The report titled selling into the sun. Solar will not increase the value of your home from what i have seen. Home seller incentives for investing in solar panels are parlayed into homebuyer incentives because a property s market value may increase as electricity prices rise.

During the past year homes with solar energy systems sold for 4 1 more on average than comparable homes without solar power. Installing solar panels in a home not only helps to reduce current monthly utility bills. It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels.