Do Solar Panels Increase Home Value In Texas?
Want To Increase Your Home Resale Value? Install Solar Panels
Are you looking to increase your home resale value in Texas? Install solar panels and you’ll not only add value to your home, but also save money on power bills.
According to a recent study conducted by the U.S. Department of Energy’s Lawrence Berkeley Laboratory, home buyers have consistently been willing to pay more money for homes with solar power systems.
The study analyzed the sales of almost 22,000 homes in eight states from 1999 to 2013, almost 4,000 of which contained solar PV systems.
Solar Panels Add $24,000 Dollar Value To Homes, On Average
The key finding: on average, homebuyers are “consistently willing to pay PV home premiums” of approximately $4 per watt of installed solar capacity. For a typical 6-kilowatt solar PV system, this means that solar can add $24,000 to your home’s resale value!
“Our findings should provide greater confidence that PV adds a quantifiable premium to a wide variety of homes in California and beyond.”
-Sandra Adomatis, Co-Author of Berkeley Lab’s Selling Into the Sun Report
According to the Solar Energy Industries Association, over 2 million U.S. homes and businesses have gone solar! There’s over 71,300 MW of cumulative solar electric capacity operating in the U.S., enough to power more than 13.5 million average American homes. Now is a great time to join the solar power revolution!
Decreasing Costs Driving Adoption Of Solar Powered Homes in Texas
Through Q3 2019, Texas installed 3,420 MW of solar electric capacity, ranking it 4th nationally. There’s enough solar energy installed in Texas to power 408,000 homes.
And, since 2010 the average price of a PV solar panel has dropped by 63%!
Lawrence Berkeley National Laboratory: Selling into the sun: Price premium analysis of a multi-state dataset of solar homes
New York Times: Appraising solar energy’s value: Solar panels and home values
CNET.com: Solar panels increase home values
Zillow Research: Homes with solar panels sell for 4.1% more
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