Increased Property Value
Installing solar panels can increase your property value. Studies show that solar will increase the market value of a property. The Department of Energy Lawrence Berkeley National Laboratory conducted a multi-state study that analyzed the sale of 20,000 homes. The report concluded that there is a solar premium when selling a home.
According to the study, each watt of solar adds about $4 to a home's value in California and about $3 in other states. Thus, an average home with 5,000 watts of solar should sell for about ($4 x 5,000W =) $20,000 more in CA or ($3 x 5,000W =) $15,000 more outside of CA.
Solar power also makes a home more affordable to a buyer because there may be little to no monthly power bill.
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