Do solar panels increase property value?

However, another primary benefit of installing solar panels on your property is their ability to increase the home’s overall value. Various factors, such as the property’s location, energy savings and the general appeal of solar energy to potential buyers, can influence the extent of this value increase.

How does Zillow determine the solar premium in each state?

Zillow determined the solar premium in each state by comparing the sale prices of homes with and without solar-energy systems listed for sale and sold within the research period, from March 2018 to February 2019.

Do solar panels increase resale value?

In fact, one study by Zillow confirmed that solar installations increase a home’s resale value by up to $5,911 for each kilowatt of solar panels installed, and another estimated an increase of 4.1% of the home’s value. Where do these figures come from, exactly?

Do solar panels make a profit on Zillow?

In New Jersey, homes with solar panels can sell for 9.9% more than homes without solar-energy systems, resulting in a profit of $32,281 for the median-valued home in that state on Zillow.

How much do Solar Homes sell for?

On average, across the United States, homes with solar sell for 6.9% more than homes without solar. The sale price increases by about $25,000 for a home with solar. Four out of the 36 states in our study saw an increase of less than 2% on homes with solar. In one state (Alabama), non-solar homes sold for about 5% more than comparable solar homes.

Does adding solar power increase a home's value?

There's another way to look at the question of whether adding solar power increases a home's value: Does adding solar power increase a home's value at the time of sale? The state estimates that new solar power rules will help homeowners save about $19,000 in a 30-year period. However, others argue that the mandate will push up housing costs too much for many homebuyers.