We Install Solar Panels in Las Vegas. For those of you who have plans to sell your Las Vegas home shortly, getting the highest sales value for your home is something definitely playing on your mind. While most real estate agents will propose a kitchen remodel, a thorough spring cleaning, and perhaps a bathroom renovation; One unique solution remains. Installing a solar system on your roof is a proven method of skyrocketing your home’s value. Stay with us as we discuss how solar panels contribute to increasing your property value and how we at Solar Panels Express are the best choice in Las Vegas to help you achieve this growth!
How does solar increase property value?
Multiple studies have been conducted that lay a strong foundation of proof for the above statement. One study by the Lawerence Berkeley National Laboratory presented their findings in a report titled Selling into the sun. In summary, the report analyzed the sales of homes with photovoltaic (PV) solar systems over an 11-year time frame and concluded that:” homebuyers are consistently willing to pay PV home premiums.” Calculations indicate that homebuyers, on average, are ready to pay $4 more per watt of installed solar capacity. In simple terms, for a standard six-kilowatt system, you can expect a tremendous $24,000 increase to your home’s resale value.
In their analysis, The Appraisal Journal cited prominent researchers Ruth Johnson and David Kaserman, who report: “Home value increases of about $20 for every dollar saved on annual energy costs”. Suppose your solar system can generate enough sustainable energy to eliminate a $200 monthly solar bill. According to the research, in this case, your property’s resale value is projected to increase by $48,000 ($200*12*20=48,000).
A third and final study conducted by the National Bureau of Economic Research asserts that homebuyers gave a 4% premium to those homes with solar systems rather than those without Solar. While this estimate is simple, it lacks, given how it does not address other variables like the property or solar system’s size.
Therefore, these studies conclusively prove that installing a solar system on your rooftop can help you increase value by anywhere from $24,000 to $48,000.
Buyers Appreciate Solar more
Homebuyers will consider electricity rates and bills while contemplating their purchase. Therefore the long-term financial gain and value make them open to homes with solar systems. “The National Renewable Energy Laboratory notes: “installing solar panels is viewed as an upgrade, just like a renovated kitchen, and homebuyers across the country are willing to pay a premium for the economic and environmental benefits of a solar home.”
Other factors that influence the solar value
Some other factors that may influence how solar panels increase the value of your property include:
- Local Electricity prices
- Environmentally-conscious buyers/community
- Solar installation rates
- Amount of Energy generation
- Frequency of Power outages in the area
Are you interested in going Solar?
Well, there you have it! Solar Panels are a proven commodity that will not only provide your home with clean green energy for years to come but also serve as a financial investment that can boost your property value by a significant margin! If you would like to install solar panels on your Las Vegas Home to reap these benefits, Contact Solar Panels Express today! We provide our customers with affordable and reliable solar panels that address all of your solar needs today!