Solar panels are an excellent addition to most anyone’s home for a host of reasons. Between the environmental benefits and the potential electric bill savings, homeowners all over the country are learning how they can embrace the solar movement.
However, there is an often-overlooked benefit to adding solar panels to your property. As more people begin to understand the benefits of solar energy, homes that are energy-efficient and less reliant on the grid are seen as a stronger potential investment. With the right buyer, you can see an additional return on your investment with your Asheville home.
How Much Can Solar Panels May Increase Your Home’s Value?
According to a study done by Zillow, homes with solar panels can potentially sell for up to 4.1% more on average than homes without solar panels. For a median-valued home of $250,000, that translates to about $10,000 added to your home’s market value.
A typical home in Asheville is worth about $350,000 according to data from Zillow. Based on the current average value of an Asheville home, adding solar panels to your residence might add an additional $14,000 from the real estate housing market if and when you sell.
How Else Can You See A Return On Your Solar Investment?
Aside from the Asheville housing market, your solar panel system can impact your finances in a number of ways. These include the following:
- Potential savings on your electric bills: By creating your own energy, you can reduce your home’s reliance on the grid and potentially save on monthly electricity bills. These savings can add up over the lifetime of your solar panels, making them a potentially strong investment.
- Net metering: If you’re creating more electricity than you are using, you can potentially sell that energy back to the grid for credits on your electric bills. This adds another layer to the potential savings you might see as your home thrives off of solar energy.
- Federal tax incentives: If you install solar panels, you can possibly enjoy a tax credit that will compensate you through a credit on your taxes for a percentage of the cost of installing panels.
Boost Your Asheville Home’s Value With Pink Energy
Whether you’re planning on selling your home soon or intend to live there for the next decade, a solar panel system is an ideal investment for your home’s value. Enjoy the potential long-term solar savings and see the potentially strong return on your solar investment when you sell your home, so the next owner can live a greener lifestyle as well.
Ready to invest in a solar system for your Asheville home? Contact us here for more information!