Solar Panels May Increase Home Values

Installing solar panels can be an asset and add tremendous value to your Santa Cruz residence because they offer savings on your monthly PG&E electricity bills , they are strong and long-lasting, and they function in most cases without much periodic maintenance or supervision. And one of the most important benefits for homeowner’s is, unlike other home improvements they don’t make your property taxes go up or increase.

Residential solar photovoltaic panel systems may seem to be a big initial home investment, without solar financing, but the recent LBNL study conducted on residential properties sold in California over a period of eight and a half years shows a very strong correlation to property values going up. For homeowners looking to increase the value of their home as well as save money on utility costs, the installation of a solar panel system will pay off the upfront costs. With the government’s green energy tax rebate initiatives, many Santa Cruz homeowners may even qualify for large tax rebates that can help recoup some of the initial cost of installing the photovoltaic system.

Studies have been conducted by Lawrence Berkeley National Laboratory and the U. S. Dep. of Energy to investigate and determine if solar panels actually increase your home’s value. The average California resale increase for a home with solar panels installed over a comparable home without them was found to be $5.50 per installed Watt. This means a 5kW system could potentially help your home sell for an extra $27,500!
Of course, these numbers may not be exact in all housing markets and individual cases, but value can take many other forms. For example, the U.S. Department of Energy, shows that homes with solar panels often sell up to twice as fast as comparable homes without them.

The study also indicated another interesting fact: That installing a solar panel system in your residence may increase the resale value over time, the even greater value actually may lie in the energy savings over the life of the system and over the time you stay and dwell.

One important advantage for installing a solar panel grid to supplement your home’s energy consumption in Santa Cruz, is that solar panel installations are among the most efficient in the country because of year-round sun power. Another advantage to installing a solar panel grid to supplement your home’s energy consumption is that it is hassle free, affordable arrangement.

With the obvious advantages of installing a residential solar power system, why does renewable energy continue to make up only eight percent of the energy used in the United States? In past decade the focus has been mostly on the initial upfront costs of installation of such a system. Fortunately, now solar systems can be installed for $0 upfront costs. And going forward in the future as demand continues to increase, prices will become even more inexpensive. This is wonderful news for savvy residential homeowners looking to increase the value of their properties resale price. Another important post recession factor to consider is, with the housing market currently flooded with an excessive amount of REO’s, foreclosures and homes for sale, any value added features that can make your home stand out from the rest is always great selling point for your realtor. Having a special, money-saving feature such as a solar energy grid can help buyers to realize and think about the long-term savings of living in your property and ultimately encourage a greater purchase price. It also adds interest and viability for new buyers looking to lower homeowner costs and become part of america’s energy independence alternative resource movement.

This is no longer just a niche and it should not be taken lightly as a novelty, as more and more santa cruz residents have begun to rethink the way they use and consume energy and search for new ways to cut their costs and live more sustainable. For many Santa Cruz residential homeowners looking to sell their homes in the current economy, this is an great approach to consider. There are business incentives also to think about when Installing solar panels in your residential home. Commercial installations also present a value able investment and savings opportunity. For small business owners who run and operate a home office, the potential savings is substantial and has many different levels. Whatever your beginning reasons for having a solar power grid installed in your home, you can rest assure that your investment will continue to add to the value of your homes resale and continue to recover its initial costs through continued energy savings.

Courtesy: http://allterrasolar.com/solar-panels-may-increase-home-values/

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