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While installing a solar system on your home or commercial facility helps you save money on your electric bills, the benefits don’t stop there. Solar panels can also significantly boost your property’s value when it comes time to sell. There are several factors, both on the residential and commercial side of solar, that make this long-term investment highly beneficial for homeowners and businesses. 

On the residential side of solar, many homeowners find that the installation of solar panels truly does increase the monetary value of their home when it comes time to sell. According to a study done by Zillow, homes with solar panels increase their value by around 4% compared to those who do not have panels. Additionally, according to the National Renewable Energy Laboratory, for every dollar saved on electricity bills due to solar panel usage, there is a $20 increase in a home’s value.  

Aside from monetary value, homes with solar panels also sell better in the current real estate market. Homes with solar panels or systems sell 20% faster than those without, making the daunting process of selling a home much more manageable.  

Some other factors that contribute to the property value of residential solar panels are location, electricity rates, and general appeal of solar. Many consumers are prioritizing environmentally friendly alternatives, specifically with energy efficiency, making homes with solar panels much more appealing to homebuyers.  

Read more about how residential panels can boost a homeowner’s property value here: Does Solar Increase Home Value? – Forbes Home 

Similarly, solar panels also increase the property value of commercial businesses. The savings on electricity bills can be extremely impactful to commercial businesses. With a strong return on investment, as well as energy savings, the panels prove themselves to be worth the initial upfront cost, adding value to the everyday operations. However, these systems can also increase the property value of your business facility through a variety of aspects.  

One of which being sustainability and market appeals. As consumers strive to be more sustainable, they want their businesses to also be working towards those same environmental goals. By having solar panels on your business, it is very clear that sustainability is a priority for your business. Conscientious consumers are prioritizing these values more and more, and your business wants to align with those values.  

Not to mention, the same goes for commercial properties as residential when it comes time to sell. Buyers of commercial business properties are going to be more attracted to facilities with solar panels than not, making the resale process much more seamless.  

Read more about how commercial panels can boost a business’s property value here: How Solar Power Affects Commercial Property Value 

To learn more about Halo Solar, contact us today and follow us on Facebook, Instagram, and LinkedIn.