Do Solar Panels Increase Your Property Value?
Solar panels on top of commercial and residential properties alike grow each year. Perhaps this is linked to the abundance of renewable energy and the decreased energy bills, however, it may have to do with the property’s value increasing.
Let’s Talk Numbers
Installing solar panels has increased a property by an average of 4.1% across the United States according to research done by Zillow. Not only does it increase the value, but it may help pay for itself through state and federal tax credits. Add lower utility bills on top of this and it’s no wonder many more homes and businesses now have solar panels.
What if I Sell the Property?
Some worry about selling property that has pre-installed solar panels, however, you definitely should not be. Properties with solar pens tend to sell faster and have a higher closing price than those without solar. In fact, some choose to purposefully install solar before adding a home to the market to help with the sale. Not only are you increasing the home value, but you’re increasing the neighborhood’s average as well.
What if I Lease the System?
If you’ve chosen to lease your solar panel system, you may wonder if it could be hurting your home value instead of increasing it, however, there is little to worry about. The idea of selling a home and transferring over the lead may sound scary, however, studies in California have shown that homes on the market with a solar lease agreement play little to no affect on your home’s ability to be sold or the home value. In fact, having the lease will likely still be seen as an advantage to your home.
Titanium Power is Here
Titanium Power is an industry-leading solar company serving the Los Angeles area. We are dedicated to providing first-class service to our residential and commercial customers, finding y0u the perfect solar energy system for your needs. Give us a call today to receive a quote and talk more.