How does having solar panels on your home affect the value?
In 2024, solar panels can increase a home’s value by 6.8% on average, or about $25,000. However, the amount that solar panels increase a home’s value can vary widely depending on several factors, including:
- Location: The region, state, and city you live in can impact how much value solar panels add to your home. For example, in Seattle, Washington, homes with solar panels sold for 9.3% more on average.
- Energy rates: Local electricity rates can impact how much value solar panels add.
- System size: Larger solar installations may add more value than smaller systems, but the power output is often more important than the number of panels.
- System aesthetics: Some buyers prefer smaller, less conspicuous systems. Other factors to consider include:
- Property taxes: Installing solar panels may increase your annual property taxes, but many states offer exemptions.
- System cost: The cost of installing solar panels has decreased in recent years, and there are incentives like the federal solar tax credit.
- Loan repayment: Most homeowners pay off solar loans in as little as five years.
Green Power Utah's Local Honest Solar Company
If you have more questions about getting solar in Utah, call us at Green Power Utah today. We understand it is a big investment, so let us give you the best prices in the state. We are there with you from start to finish, and make sure everything is installed by the best. There are federal and state incentives to help with the cost. Make sure you understand everything before you decide what is best for you. We have helped hundreds of families get the best prices on solar, and to start saving money and avoid the inflation of the power company.
Do Solar Panels Increase Your Homes Value in Utah