Homeowners considering solar often look at the cost of the installation and savings on the monthly electric bill when making a decision. But those are only two of the factors that could affect their decision, leaving aside the increased value of their home with a solar energy system, according to A.M. Sun Solar based in Paso Robles.
As more homes on the Central Coast go solar, studies are starting to show many positive, long-term benefits of using free energy from the sun. A study by the National Renewable Energy Laboratory shows each “additional $1 in energy bill savings (from your solar installation) adds $20 to your home’s total value.” This is why it’s a good idea to install solar panels on your home. It’s easy to do and won’t affect you negatively. Doesn’t matter where you live either, for example, if you live in Plymouth then you can easily use a company like ProjectSolarUK Plymouth. So why not? If it increases the value of your home AND saves the planet then it’s certainly worth doing.
More specifically, the Lawrence Berkeley National Laboratory analysis shows “an average increase in resale value being $5,911 for each 1 kilowatt (kW) of solar installed. In a state like California, for example, a small 3.1-kilowatt (kW) system can add an average of $18,324 to the value of a medium-sized home.”
And those values increase according to the size of the system. Installing a 5kW of solar panels and a deep cycle solar battery adds an average of $29,555 to the retail value of a medium-sized home, according to LBNL.
With solar, not only do you add equity to your home, but the tax credits recover approximately 97% of your investment costs on top of the savings that come with reducing or eliminating your energy bills, according to A.M. Sun Solar. Speaking of energy bills, for people struggling to reduce the amount of energy used in the home, it could be as simple as checking out TXU energy plans, for example, to find affordable deals that could help lower the price of your energy bills.
“Plus, it just feels good to lower your carbon footprint and help the environment,” they said.
A.M. Sun Solar consultants can answer questions about resale value, how much electricity solar panels will generate, and how homeowners can lock in savings as energy prices increase. Call A.M. Sun Solar at (805) 457-4053.