Do Solar Panels Add Value to Your House?
Homeownership is a solid investment that offers several other benefits. They include building equity, improving your credit score, and receiving tax advantages. You also have the freedom to install sustainable energy solutions. In addition to their low maintenance costs, do solar panels add value to your home?
Why Green Energy Is the Future
While some people claim these panels are an eyesore, manufacturers are increasingly improving esthetics. As a result, modern solar products are more likely to blend with your roof and overall house style. The initial installation cost might be relatively higher than alternative solutions, but you'll enjoy long-term savings on utility payments.
So how do solar panels add value to your home? Lower monthly electric bills are enough motivation for a prospective buyer to pay a premium for a solar-powered home. Most buyers consider them an upgrade, similar to a kitchen or roof renovation.
Americans are increasingly turning to environmentally-friendly, renewable energy solutions. As this demand rises, the value of your green energy-powered house is also set to rise. Various factors influence the extent of value addition. They include your location, state regulations on solar energy, installation costs, and the level of community awareness on sustainable solutions.
From the homeowner or seller's perspective, the following benefits ensure they make long-term savings while the property value rises:
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State incentives
The Database of States Incentives for Renewables & Efficiency (DSIRE) provides comprehensive information on sustainable energy. It includes how to qualify for financing through the property assessed clean energy (PACE) model.
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Federal tax credit
The federal government understands that the sun is the most accessible and abundant source of green energy. That's why it offers a tax credit if you install a home solar system. The thousands of dollars in savings help you achieve a faster return on investment. The solar tax credit covers the entire system, including the panels, installation cost, and home battery storage.
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Affordable and dependable off-grid power option
In the past, solar panels were bulky and expensive. However, certain factors combine to make solar an attractive option. They include investments in research, government support, and increased awareness about the dangers of greenhouse gas emissions.
Contact the Best Solar Panel Installer in Las Vegas
Do solar panels add value to your home? The answer is yes, although it contains some caveats. For example, prospective buyers are more likely to pay a premium if you have detailed documentation showing an installation by a reputable company. Qualified solar advisors can also show you how to calculate the expected financial gains throughout the system's lifetime. For more information about solar panel installation, contact us today for a free estimate.