Solar power is the most efficient and cheapest source of energy available to us and Solar power installed home give you an increased price for your homes.
Yes, Solar Power does add to your value to your home. Installation of Solar Power is one of the best investments that you can do for your home, for yourself and for the environment.
Building homes are the biggest asset for a lot of us and addition of a Solar Panel definitely add to the value of the property.
However, there are various factors that needs to be considered that influence on how much this solar panel adds up the property value.
Factors that influence the value of your property are:
- Your state, city and Country
- The cost of electricity in your state
- The size of solar power installed
- The age, type, warranty and guarantee of the solar panel
- How much energy is produced by the Solar panel
Location:
The Location where your house is located is very crucial in deciding on how much the value of the property will increase with the addition of Solar power in your Home. For States and Cities which face frequent power cuts, the buyers are familiar with the benefits of Solar power and hence the property with Solar power installed are in demand.
Dimensions of the Installation:
The value of property increases with the quality and quantity of Solar power installed in your home. The number of solar power that is installed in your home is directly related to the value of your property. The bigger the house, the higher the production capacity of energy of your solar panels.
Energy usage and savings:
The cost of energy in your area, city or state also defines the usage of the Solar panels which in turn influences the value of your property. If your state charges higher in terms of energy supply, then installation of Solar Power for your home will definitely add to the value of your property and one of the best ways to know your energy consumption is to visit your energy bills month on month. Once you know your exact usage, you can evaluate how many solar power panels you will need for your home.
Solar performance-based incentive:
Some states provide performance based solar power incentives. The calculation is, that the state pays you for the amount of the renewal power you produce on an ongoing basis and if you are lucky to live in such area then the price of your property will definitely increase.
Recordkeeping of Solar panel details:
It will be wise on your part if you maintain a record of the age, type, warranty and guarantee of your solar panel including the power bills of before installation of the Solar panel and after installation of Solar panel for the prospective buyer to review at the time of selling the house. This will help the prospective buyer to check and compare and decide on the purchase of the house.
New v/s older solar power installed in your homes:
A new home with newly installed Solar panel will have a higher warranty, guarantee and life span as compared to a solar panel which is old, hence buyers also prefer houses which have newly installed solar panels. However, in the longer run, the solar panel installed does increase the value of the house.
Solar Panels bought or leased?
A solar installation can be included as an added amenity to your property if you have purchased the solar panel and you are the owner. However, if you have decided to lease the solar unit then the warranties and guarantees are owned by the third party. Hence it is most advantageous that you decide to invest in the Solar panels and purchase the solar panels since it will definitely add up the value of the property as the asset can be directly transferred to the new owner without obligation.
Solar Panels adds value to your home:
Installation of Solar Panels will definitely add value to your home. Now whether you are upgrading your existing home to give it a new look for selling it or want to make your home forever yours. If you decide to sell your home then you will definitely get higher returns and if you decide to live in your home forever, the cost of the Solar installation will pay off in the form of reduced energy cost.
We, at Lightleader located in Bangalore, Karnataka provide you with most efficient Solar energy panels along with solar installation services.
Final thoughts on increase of home value with Solar Panels:
If you install Solar Panels for your home, you will not only save on energy cost for yourself, you will also participate in green energy movement and help the mankind in the long run.