Solar Panel House Value Boosts Home Value
The LBL report doesn’t tell the whole story about solar panel house value. In fact, according to a recent Zillow research study, a home that had solar power sold for 4.1% less than a comparable home without it. And the report isn’t the only one. There are many other sources of information on the value of solar panels for a home. Listed below are some of the most important factors to consider when deciding to install a solar panel system in your home.
Increased home value of a home with a solar energy system
Adding a solar energy system to a home can boost the value of your property. Depending on the area, the cost of electricity can increase significantly. A solar panel system installed on a home will offset these costs. The average solar energy system can produce enough power to power a home for 25 years, which can translate to significant long-term savings. This article will explore how a solar panel system can increase the value of a home and examine the factors that affect that value.
A recent study looked at the value of homes that had solar panels versus those that didn’t have them. It controlled for factors like age and location, as well as the attributes of each home. The result was that solar panel-equipped homes typically received a boost of 4.1% in value. This boost varies by region. This article aims to help you determine how much solar panels can boost the value of your home.
Cost of a solar energy system
When planning to install a solar energy system for your house, the first step is to determine the total amount of electricity you use in a month. Calculating your average energy use will help you estimate the number of solar panels you will need. Next, calculate how many kilowatt hours you use in a year. You can do this by looking at your utility bill. A three-kilowatt-hour system will produce about 3,600 to 4,800 kWh per year. A five-kilowatt-hour system will produce about 6,800 – 8,500 kWh of electricity per year, while a ten-kilowatt-hour system will provide between 12,000 and 16,000 kWh per year.
Location of a solar energy system
The best location for a solar energy system is on a south-facing roof, where there are no obstructions. East and west-facing roofs also get plenty of sunlight, but homes with a sloping roof may not benefit from solar panels. Another factor to consider when choosing a location is average monthly electricity bills. If you know how much you spend on electricity each month, you can determine the appropriate size of your solar system.