Installing solar panels is one of the best ways to save on energy bills — but the benefits of solar don't stop there. A recent study revealed that solar panels could also boost home resale values by tens of thousands of dollars, EnergySage reported.
Based on SolarInsure's research, homes with owned solar panels tend to sell for 5-10% more than homes that don't have solar.
When applied to today's average California home prices, this premium could significantly increase a property's overall worth. According to EnergySage, "For the average $790,000 California home, that's an eye-popping $39,500 to $79,000 boost in resale value."
However, the study clarified that this premium may only apply to homes with owned solar systems because leases don't consistently boost value.
Because solar system costs and ownership can influence a home's value and resale price, homeowners can benefit from understanding installation prices and incentives upfront. EnergySage's free tools are designed to make it easier for you to get quick installation estimates and compare quotes.
According to the U.S. Department of Energy, lowering electricity bills is one of the main reasons people go solar. Most households with solar save nearly $700 per year, even after factoring in installation costs. That also means you generally begin inching toward your payback period (the length of time to recover the cost of the investment) right away.
With solar panels, homeowners can protect themselves from fluctuating energy prices and power outages, per Energy America. Solar adoption also helps cut air pollution, improve air quality, and reduce reliance on traditional power grids.
You can find the best solar purchase prices and installation quotes through EnergySage. With its free services, you can avoid overpaying for solar and save up to $10,000 on panel purchases and installations.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
The costs and incentives for installing solar panels may vary by state. EnergySage's mapping tool shows the available incentives and average costs of solar energy systems on a state-by-state level.
To further maximize solar's benefits, you can pair solar panels with battery storage. This combination can help cut energy costs and provide backup energy in case of outages. With EnergySage's free tools, you can get information on options and installation estimates for home battery storage.
|
What's the most you'd pay per month to put solar panels on your roof if there was no down payment?
Click your choice to see results and speak your mind. |
$200 or more 💰 Some advanced systems, like a solar roof with battery storage, can even help generate income through energy programs while boosting a home's resale potential.
According to experts at EnergySage, the 5-10% boost to property value shows the market is recognizing that solar is a valuable asset to invest in.
More From EnergySage
💡Go deep on the latest news and trends shaping the residential solar landscape
"It's one of the few home improvements that can pay for itself through property value increases alone and then deliver decades of additional savings," it added.
Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
Cool Picks
