Does having solar panels increase home value

Are solar panels worth it?

In fact, studies by Zillow and the Lawrence Berkeley National Laboratory both found that homes with solar panels sell for more money than comparable homes without them. It’s really just a matter of how much.

How do solar panels affect home value?

The primary reason homeowners installed solar panels was to save money on energy bills (54%), followed by becoming energy independent (19%) and reducing their carbon footprint (15%). Here are ways solar panels can impact home value. Before you speak with a solar installer, consider your state’s electricity rates.

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?

Does solar add value to your home?

As long as you’ve purchased (rather than leased) solar panels or shingles, going solar can add to the value of your house. Where you live has a significant impact on what your home-value increase will be, however. Homes in states with bigger solar incentives and bigger solar markets may see bigger price differences. Some of these states include:

Will a new solar system increase my home value?

Other factors influence how much your home’s value might rise, such as: Age of your solar system. If your panels or shingles are nearing the end of their productive years, your home value won’t rise as much with a system that's fairly new (less than 10-15 years old).

How much do solar panels add to a home?

This is an increase from the 4.1% figure found by Zillow in a 2019 study. With the median value of a home in 2024 at around $417,000, solar panels could add over $28,000 in value! Keep in mind that every home's situation is different, and several factors will impact how much solar panels increase your home’s value.