Do Solar Panels Add Value To Our House

Adding solar panels to a home not only helps save money on energy costs but also has the potential to increase the overall value.

Do solar panels add value to our house.

The professional estate agents body is naea propertymark its chief executive mark hayward explained that solar panels are unlikely to feature in the valuation models of estate agents or mortgage providers. If you are thinking about purchasing a solar system for your home the study s conclusions should give you a boost of confidence that you are making a smart investment. Estate agents feedback suggests that installing solar panels will not increase the value of your home when you come to sell it. Just how much do solar panels add value to your house.

Installing solar panels in a home not only helps to reduce current monthly utility bills. Therefore leased solar panels are likely to be value neutral on the appraisal. It may not be surprising but the main reason solar panels could add value to your home is probably the same reason you got them installed in the first place. 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 while many websites selling solar will lead you to believe it s the best possible investment for your home the true benefits of solar especially for a potential buyer interested in your home depend on quite a few factors.

For one thing they don t work for every home design. In terms of resale john distefano president of first fidelity appraisal services of new england said solar panels are growing in popularity. This additional financial commitment makes it harder to market and sell the property. As to solar panels owned by the homeowner the appraiser noted that there had been.

Moreover the cost of the lease will negate some of the utility cost savings. Solar panels can save you money on electricity while adding to the value of your home but they re not right for everyone. Many appraisers are taking the position that there is no added value and perhaps some diminished value with leased solar panels because the buyer must assume the lease. According to zillow homes with solar energy systems sell for 4 1 percent more on average than comparable homes without solar power.

Aside from the potential to increase a home s value solar panels offer a number of other benefits to homeowners. They definitely add value to your home as long as. Solar panels really do add value to a home. A home that uses the power of the sun to produce electricity reduces the need for burning fossil fuels which emit greenhouse gases like carbon dioxide co 2.

Choosing renewable energy helps protect the planet.