Nowadays, selling your home can be incredibly overwhelming. With so many properties on the market, it’s hard to make your own stand out. Sure, you might repaint its exterior or get a new fence, but do they really add that much value to your estate?
Yet, instead of superficial upgrades, people have been setting their sights on more significant improvements, such as solar shingles. But are solar shingles a good investment, and can they really increase your home’s value? Let’s find out!
How Much Value Can Solar Shingles Add to Your Property?
Industry experts agree that solar shingles and solar panels are a great investment for homeowners that plan to sell their homes later down the road. However, the added value varies depending on your location and your home’s solar capacity.
But, according to research, you can get an increase in the resale value of about $5,911 for each kilowatt of solar power that you have installed. In other words, if you have a 10kW home solar system capacity, you will increase your home’s value by almost $60,000.
Factors That Influence the Impact of Solar Systems
While solar systems can surely improve your home’s value, the impact they have on it depends on a couple of factors:
- Location: Your energy bill will vary depending on your location. For some, getting a solar system won’t impact their electrical costs too much, while for others, it will help reduce bills. Additionally, your home’s geographical location can influence the amount of sun exposure your solar shingles get.
- Solar Installation Prices: Installation prices are also different from one state to another. If a buyer saves money by getting a home with a system already installed rather than installing it themselves, it will add higher value to your home.
- System Output: As mentioned earlier, larger systems that generate more energy are more sought after.
- System Age: Older solar systems are less effective than modern ones. Even though they still increase your home’s value, newer solar shingles will impact it even more.
Do Potential Customers Prefer Solar Homes?
Although solar shingles can add to your home’s value, they won’t make a difference if people don’t seem interested in buying your home. Fortunately, there’s no denying that potential customers prefer solar-powered homes. Simply put, while many people want to go solar, few will make the investment themselves. So, they’ll naturally want a home that already has solar capabilities.
Furthermore, more than 80% of homebuyers say that energy efficiency is their priority. That is why homes with solar shingles or panels sell 20% faster and for at least 17% more than those without.
Are Solar Shingles Worth It?
Getting solar shingles can help improve your home’s value. While it will impact each property differently, it can be a great asset for homeowners all over the country. However, if you want to know exactly how much solar shingles can help, you can always request the help of a professional solar roofing contractor. They will analyze your current roof, decide if solar shingles are worth the investment, and even handle the installation itself.