Going solar is slowly becoming the trend as more people realize the impact of global warming in today's environment. While the savings associated with going solar outweigh the costs of installing one at home, how does it affect the house value?
More people are installing solar-paneled roofing systems in their homes, as the long-term benefits of it begin to become known to households across the United States. As previously reported on Realty Today, the costs of installing solar panels at home are decreasing, which in turn, increases the number of households going solar.
There are also a number of financing options available for those who cannot pay the costs of installing a solar energy system at home in cash. Options such as a power purchase agreement (PPA), solar leasing and low-interest loans are made available for homeowners who wish to avail of the said system.
Homeowners were also given a five-year federal tax credit extension in order to attract more people into going solar.
While the savings one can reap from going solar alone can be very attractive, it turns out that this can also boost the house value when the time comes for you to sell your property.
Realty Times noted that a recent study revealed that homes with the average PV system were sold for a premium of $15,000 in different states. This meant that most homes with solar paneled roof or systems installed had higher selling prices in the real estate market.
There could be, however, a difference depending on whether you paid for the system in cash, or if you availed of it through a lease or loan.
According to the publication, there is no impact on the resale value of your house when you have the solar energy system leased. Only 20 percent of the participants in the study were found to be scared of buying a house with a solar energy system for lease.
