Homes With Solar Panels Sold at Premium
March 30, 2016
Home buyers are showing high demand for solar energy homes, and they’re willing to pay a lot extra for homes that have them too.
The Sun Shines Bright
In fact, a new study shows the average premium for homes with solar panels is an extra $14,329 to the sales price. That represents 3.74 percent more than the average sales price, according to a new study from The Appraisal Journal, a professional publication for appraisers.
More consumers have been investing in solar, and companies are making solar more in reach by even waiving upfront costs in some cases. For example, in 2014, SolarCity partnered with Bank of America Merrill Lynch to fund an estimated $400 million in solar power projects that year and in 2015. Home owners were able to install solar panels without paying any upfront costs. Other companies are allowing home owners to lease solar panels to waive the potential $35,000 installation investment.
Source: “Study: Home Values Increase When Solar Panels Get Installed,” HousingWire (March 29, 2016)
Updated: January 25, 2021