How Can Solar Panels Increase Home Value?

As an ever-increasing number of North Carolina and South Carolina homeowners strive to go green, solar energy has also risen in popularity. There are a few reasons for this. Primarily, people realize that they can save significant amounts of money on energy bills and improve the environment by choosing solar power over more conventional methods. Additionally, the cost of solar panels has decreased enough that they are accessible to the majority of homeowners these days.

Another, lesser-known perk of solar panels is that they can, in many cases, increase home value. Whether you intend to list your current Carolina residence soon or you simply want to improve your overall equity, this is a definite benefit. You might be wondering how solar panels accomplish this, though. As you read this guide, you will find some helpful information that will clarify the relationship between solar panel installation and increased home value.

The location of your house matters

If you live in a region of the Carolinas where solar panels seem to be popping up everywhere, you will almost certainly see more of an increase in home value than if you reside in an area where very few solar panel arrays exist. This is not to say your properly value won’t go up at all in places where solar energy is still catching on, but you aren’t likely to see as much of a return as someone in a city where this form of power is getting quite popular. It’s a good idea to research the median ROI on solar panel installation in your zip code before you make the investment yourself.

Make sure the solar panel array is the right size

In order to take full advantage of solar power at your house, it is imperative to have the right-sized array installed. If, for example, your home is 3,000 square feet, you will need more solar panels than a homeowner whose residence is just 900 square feet. If you end up purchasing too few solar panels, it will invariably have a negative impact on how much your property value rises after installation is complete. Your installer should, however, be able to help you figure out the perfect array for your space.

Purchase the panels rather than leasing them

It is possible to lease solar panel arrays instead of purchasing them outright. Buying, though, is always better than leasing when it comes to solar power. If you choose to rent your panels, they won’t really have an effect on the value of your home because they won’t actually belong to you. In other words, they could be taken down at any time if the leasing fee wasn’t paid. If you make a personal investment in your solar panel array, you can rest assured that they will pay for themselves in time.

If you have questions regarding solar panel installation in North Carolina or South Carolina, don’t hesitate to reach out to Hatch Homes. We provide our clients with a variety of exterior renovation services and we look forward to speaking with you about ways to improve your property!

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