In real estate, there are many ways to boost the market value of your property. You can improve the design of your house, equip it with intelligent technology, set up adequate security systems, and more.

However, while all of these can give you additional bucks when you decide to sell your home, there is another way to increase your home’s market value while saving money–installing solar power!

Do solar panels increase home market value?

Yes! In many states across the globe, a functional solar power system can effectively increase your home market value.

The simple logic is this: a functional solar panel system improves efficiency and cost. When new homeowners decide to buy houses with solar panels, they can be sure to reserve electricity for emergencies.

Aside from this, they’re expected to have reduced monthly bills since they can use solar power instead of traditional electricity. Energy experts suggest that an entire household can save up to $19,000 in 30 years with a solar-powered home.

This is why during 2020, lawmakers pushed for the promotion of solar energy as it helps the environment, various countries, and individuals in so many ways. This results in the approval of the solar power tax exemption and the increased market rate of properties with solar panel systems.

How much do solar panels increase home market value?

According to real estate analysts, a fully-functioning solar power system can increase a property’s value by 4.1%. This means that it can add up to $9,700 on the base value of your property!

And it doesn’t even stop there—this estimate further increases based on the electricity production of your solar panel system. So, should you decide to get more solar panels to produce more electricity, you can further increase your home market value to at least 8%.

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