Solar Panels Increase the Value of Your Home!

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According to data from Zillow, homes with solar panels in Florida and Texas tend to sell for higher prices compared to homes without. In 2021, Florida homes with solar panels sold for an average of $15,000 more than homes without, while in Texas, the premium was even higher at $18,000. A study by the National Renewable Energy Laboratory (NREL) also found that homes with solar panels in these states sold for a higher premium, with homes in Texas selling for an average of 6.7% more compared to similar homes without solar panels, and homes in Florida selling for an average of 5.4% more. These findings indicate that installing solar panels can be a smart investment for homeowners in Florida and Texas, as it can significantly increase the value of their property.

Did You Know?

More than 80% of homebuyers say that energy efficiency is a priority, according to the Zillow Group Consumer Housing Trends Report.
Zillow confirmed that solar installations increase a home’s resale value by up to $5,911 for each kilowatt of solar panels installed.
Another Zillow study estimated an increase of 4.1% of the home’s value.

Factors that affect the value of added solar panels

Quality and efficiency

High-quality and efficient panels will typically be more valuable.

Technology

The technology used in solar panels can influence their value, with newer and more advanced technologies generally being more expensive.

Brand reputation

Brand reputation can affect the value of solar panels, with well-established and respected brands often commanding higher prices.

Production and Availability

The availability of solar panels and the cost of production can affect their value, with shortages and high production costs leading to higher prices.

Government Incentives

Government incentives such as tax credits or subsidies, can affect the value of solar panels by making them more affordable.

Market demand

The demand for solar panels can affect their value, with higher demand leading to higher prices.

Location

The availability of sunlight and other environmental factors can affect the value of solar panels in different locations.

It’s important to note that property tax laws can change and the specifics of how solar panels will affect property taxes will depend on the local tax laws and regulations. Property owners who are considering installing solar panels should consult with a tax professional to understand how a solar installation will affect their property taxes. We will happily provide a free consultation, allowing us to explain any and all benefits of going solar in your area. Contact us today!