How Do Solar Panels Increase the Value of the Property?
Guest Post By Aaron Campbell
The world is fast-changing, and many are looking at the ways and means of maintaining our ecosystem while living comfortably.
Many sources of energy are associated with the negative impacts on the environment and the high cost of sustaining them.
We struggle to pay for electricity, yet we have free power that we can use all the time.
Sunshine is the fastest-growing source of energy around the world.
It’s cheap, reliable, and efficient, and this makes it the most desirable today.
For property owners, you know that land and property value appreciate over time.
But it’s not a guarantee that it will appreciate as fast as you would want.
There several ways that will ensure that the appreciation is guaranteed, and you can feel the change.
Installing solar panels will boost your property’s value fast.
According to research from the National Renewable Energy Laboratory, the value of your property rises when there is a reduction of the energy bill.
For every $1 saved in the energy bill. There is an increase of up to $20 to your property’s total value.
The value increase varies with regards to several factors:
- The location; In some places, even if you install the solar panels, the value increase will not be as high as others. Property valuation in Melbourne has proved that the installation raises the value.
- The number of solar panels installed; will affect the value. The higher the number of solar panels introduced, the higher the rise in value.
An Issue associated with solar power is the fact that it might not fully power heavy-duty appliances, especially if they are old such as refrigerators.
Also, solar energy is usually intense during the day when the sun is shining. So, it’s best to undertake all activities that consume lots of power during the day; such as ironing, air-conditioning, water heater, and laundry.
Different exact property values vary in regards to installation and property to property.
In California, 3kw of solar panel adds $18,324 to the value of the property.
Installing 5kW of solar panels adds an average of $29,555.
All property owners are looking for ways and means of reducing the cost accrued by electricity used.
In recent times the cost of power has been rising and will continue to grow. This rise will impact the value of the property that have installed solar panels.
It not only increases the value of the home but also helps the property sell much faster since the owners will not have extra work of installing the solar for themselves.
There has been a rise in demand for solar installed homes and solar panels.
As a result, the prices have risen, but if you pick your pen and paper and calculate the cost versus the electricity bill over time, then you will not worry about the cost of installation.
For solar panels to serve you well and effectively, you have to invest in quality products, and the people installing should also be qualified.
Considering your home putting up the right-sized installation, is a lifelong investment that pays off.
It pays 200% or more in returns, and on the plus side, you enjoy the returns immediately you install the panels.
To end it. Solar panel installation is the best, wisest, and safest investment that one can make.