What happens if you decide to move and you have solar installed on your home? Will the solar panels attract buyers or scare them off?
You don’t need to live in your home for 20 years to make your solar investment a smart decision. Installing photovoltaic solar (PV solar) on your home won’t stop you from selling. In fact, it can be a big advantage.
Residential Rooftop Solar Helps Attract Home Buyers
When you make the decision to sell your home, having a real estate listing that stands out among the crowd always helps attract more home buyers and offers some home hunters the exact feature they are pursuing.
A solar array is an impressive feature for any home. What’s not to like about creating your own electricity and paying little to nothing to the utility company? If you had a choice of picking one of 2 identical homes and the only difference was one came without the never ending, always increasing, utility bill which would you chose?
Your photovoltaic system can also help you close a sale more quickly. According to the Department of Energy Efficiency and Renewable Energy, a division of the U.S. Department of Energy (DOE), homes with rooftop solar systems often sell twice as fast as similar homes without photovoltaic power.
Rooftop Solar Can Increase Your Homes Value
Who doesn’t want to sell their home as fast as possible while commanding the highest price possible? With added value of a solar array, you shouldn’t have an issue getting top market value for your property.
And, actually, you may find that your solar-powered home sells at a higher price.
Research from the Lawrence Berkeley National Laboratory shows that home buyers pay more for homes with pv solar systems. The average home is valued by an estimated $15,000 more than comparable, grid-powered homes.
If at the time of selling your home you still owe a portion of your rooftop solar costs, your home sale price can offset the amount and possibly create a profit. Not to mention all the savings accrued by avoiding the never-ending rate increases you experience with Rocky Mountain Power.
Why not Lease a Rooftop Solar Array
Homeowners who purchase their photovoltaic solar systems reap the benefits of selling their home faster and for a higher price while at the same time experiencing the lowest cost of energy possible. However, if you decide to lease your PV solar system, you may find the experience a little different.
As with any type of lease agreement, you will make payments to essentially rent the equipment. With a solar lease this can be 20 or more years. In Utah, the majority of us that obtain solar for our homes have purchased the system as part of a smart solar investment strategy. Why rent energy from the traditional utility company like Rocky Mountain Power, or from a solar utility company like Solar City or Vivint Solar when you can own your solar energy production and take advantage of all the many benefits?
Financing a home solar array is now affordable for any home owner looking to own their energy. Thanks to the wide range of options like lender financing, Home Equity Line of Credit, cashing money out of a 401k and a home re-fi, most everyone is able to install photovoltaic solar for $0 upfront. At Genuine Solar we are able to match your average monthly bill with Rocky Mountain Power to your new energy cost of residential solar.
Investing in a photovoltaic solar system just makes better economic sense than leasing or renting your energy from any other source. If you would like to learn more, Genuine Solar has the ability to answer your questions and offer a full understanding of solar as your new energy system. With extensive experience in the solar industry we are proud to serve homeowners throughout Utah, Nevada, Idaho, Colorado and Wyoming. Contact us today to learn more about installing a rooftop solar array at your home or business.