Does Solar Actually Improve Home Value?
There’s been some recent debate on whether home solar can improve home value. While some say that having panels on the rooftop won’t affect the value of the home, most realtors agree that solar can increase the offers made on a home while also making the home more marketable. As more data comes in, the debate will likely be put to rest permanently. A new article published by Business Report magazine over the weekend is the latest to support the fact that Long Island solar solutions could give you more long-term value than any other home improvement.
International Data Supports the Value of Solar Power on Long Island
In the latest data collected by Business Report, it appears that solar can consistently increase home value for owners, usually by at least 8% for the average family home. New data has been taken from a large sample in South Africa. While the market isn’t identical to that in the U.S., it’s still a strong indicator and it is consistent with what American realtors have been saying for several years.
How exactly does it work? Several factors could contribute to Long Island solar solutions increasing the value of your home…
- Long Island solar solutions like solar panels and solar batteries reduce the amount of electricity the home needs to take from the grid, which leads to lower energy bills and savings. This makes the home more attractive to potential buyers.
- Solar power on Long Island is a source of clean energy, which is something that many potential buyers (especially younger buyers) are looking for today. This can make a solar home more competitive on the market.
- Some studies have shown that solar can increase the sale price of a home by an average of $15,000 in America. In most cases, this significantly offsets the original cost of the installation and that’s ignoring the savings that the original homeowner has already gained.
Reducing energy costs, providing environmental appeal, and creating direct financial incentives are all ways that a Long Island solar installation can increase the value of a home.
Long Island Solar Solutions Create an Extended Return on Investment
If you don’t plan to sell your home, you might ask why this even matters. The reality is that solar panels last an average of 25 to 30 years, so the benefits are long-lasting. You could get a Long Island solar installation this year, generate savings over the next decade, and then sell your home and still see all of the above benefits when you do.
The team at Long Island Power Solutions provides 25 years of warranty coverage for solar panels, so you’ll have confidence knowing that your investment will last, ready for you to leverage it if you do decide to sell your home in several years.
Our team offers detailed consultations so there will be no questions or confusion about the value that solar can deliver to you and your family.
Get a Quote for Your Long Island Solar Installation
Your Long Island solar installation can be more affordable than you think. The current government solar incentives are generous, making it even more affordable and improving the return on investment.
Get your free estimate for solar, and we’ll also provide a cost/benefit analysis for Long Island solar solutions. You’ll have all the data you need to determine if solar is worth it in your unique case.