Do Solar Panels Increase Home Value In Colorado

Tanner halbig at a meeting i heard a representative of a large well known company tout how homeowners could get free electricity.

Do solar panels increase home value in colorado. In addition to all that cash and home value you ve created some green for the earth as well by not using electricity from fossil fuels. Multiple studies have shown that homes with solar panel systems are valued and sold at prices above similar homes in their area. The study controlled for the home s attributes like bedrooms bathrooms square footage age and location to determine an area s solar panel boost. Installing solar panels in a home not only helps to reduce current monthly utility bills.

Solar will not increase the value of your home from what i have seen. It s like planting 123 trees a year every year your solar power system is humming. Early studies focused on established solar markets such as california found that home values increase by four percent or more when homes are equipped with solar panels. Keep in mind the numbers above are based on an average home in colorado.

Do solar panels increase home value everywhere. After all they save homeowners a ton of money right. While the average u s. It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels.

Installing solar panels on your home can reduce your energy bills and potentially add to your home value. The report titled selling into the sun. Price premium analysis of a multi state dataset of solar homes builds on previous research which concluded that homes with solar panels in california sold for more than those. Solar panels are one of those tricky things we all like to believe increase the value of a home.

Home seller incentives for investing in solar panels are parlayed into homebuyer incentives because a property s market value may increase as electricity prices rise. Buyers simply are not willing to pay more for a home with solar. Says real estate agent aaron zapata of inman according to fha and fannie mae whether solar panels add value or are viewed as a liability is still unclear. Home saw a 4 1 gain in value that boost varies from place to place.