It seems like you’re starting to hear it everywhere: “solar panel installations are good for your wallet and the environment!” Well, we’re here to tell you it’s true.
On top of those benefits, however, solar panel systems can also drastically increase the property value of your home. Whether you’re planning on selling your home next year or not for at least another 20 years, you’re always looking for ways to increase your property value and make your home a more enjoyable, affordable place to live. Solar panels could be the answer!
In today’s blog, we’re going to discuss two ways that solar panel systems will help increase your home’s value. If you’re in Lindale, Smith County, or another part of East Texas, then you can count on GreenLife Technologies. We have more than 25 years of experience — and our solar company even has master electricians who have more than 40 years of experience. Contact us today to get started with renewable energy for your East Texas home.
The cost of solar may not be as prohibitive as you think. In fact, the typical house in Texas with a solar panel system has a payback period of about six years.
It’s Good For The Environment
As more and more consumers are looking for renewable energy and prioritizing taking care of the environment, installing solar panel systems can mean you have more people interested in one day buying your home.
Solar Panel Systems By The Numbers
According to the National Renewable Energy Laboratory (NREL), each additional $1 in energy bill savings due to solar installation adds approximately $20 to your home’s total value. The location of your home, size of your solar panel installation, and size of your home are all significant factors that can affect just how much solar will increase your property value.
Though numbers will vary based on the aspects listed above, research shows an average increase in resale value as $5,911 for each 1 kilowatt (kW) of solar installed. So, for example, installing 5kW of solar panels will add up to an average of a $29,555 increase to your property value. And, according to Going Solar in America, “Solar PV customers that invest in a 5kW solar PV system save an average of between $44 to $187 per month during the first year that they own their system.”
Not only do homes with solar panel systems sell for more money, but studies also indicate that they sell up to 20% faster.
Tip: These cost increases are based on present housing prices and utility rates. The advantages of alternative energy will continue to pay off as electricity costs and housing prices increase.
Install A Solar Panel System On Your East Texas Home
What are you waiting for? Check out our posts on types of solar panel installation and the ROI of using solar energy, and then contact GreenLife Technologies today to get started with your own solar panel system in East Texas.