Does Solar Increase the Value of Your Home?

According to numerous studies, solar energy systems can increase the value of a home by adding to its overall energy efficiency and appeal.

A study by the Lawrence Berkeley National Laboratory found that homes with solar energy systems tend to sell for more than comparable homes without solar systems. The study analyzed sales data for more than 22,000 homes in eight states and found that homes with solar energy systems sold for an average of 4.1% more than comparable homes without solar systems. The study also found that the value of a solar energy system is typically higher in states with strong solar incentives, such as California, Colorado, and Massachusetts.

A separate study by the National Renewable Energy Laboratory (NREL) reached similar conclusions. The study analyzed more than 20,000 home sales in California and found that homes with solar energy systems sold for an average of $17,000 more than comparable homes without solar systems.

In addition, several real estate professionals have reported that solar energy systems can be a selling point for homes, as they can appeal to buyers who are looking for energy-efficient and environmentally friendly homes. Some experts have also suggested that solar energy systems may become increasingly important to home buyers in the future, as concerns about energy costs and environmental sustainability continue to grow.

Overall, the evidence suggests that solar energy systems can increase the value of a home by adding to its overall energy efficiency and appeal. However, it is important to note that the specific impact of a solar energy system on a home's value may vary depending on a variety of factors, such as the size and efficiency of the system, the location of the home, and the local real estate market.

Sources:

• "Increased Home Values for Houses with Photovoltaic Systems in the United States: Review and Analysis" by the Lawrence Berkeley National Laboratory: https://emp.lbl.gov/publications/increased-home-values-houses-photovoltaic

• "The Impact of Photovoltaic Systems on Home Sales Prices in California" by the National Renewable Energy Laboratory: https://www.nrel.gov/docs/fy07osti/41046.pdf

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