Many people are curious as to whether solar panels add any dollar value to a property, so let’s explore this question today.
People often ask my team and I, “Do solar panels add to a home’s value?” Alongside this question, people also often ask us whether it’s better to purchase or lease.
Unfortunately, solar panels do not appear to make an impact when it comes to adding a dollar value to your home. Appraisers have found that, because there are so many kinds of solar panels and so many means by which a person might purchase or lease them, the potential for added value is difficult to assess.
That being said, the presence of solar panels, whether they were purchased or leased, may increase the overall appeal of your home in the eyes of certain buyers. Solar panels that have been purchased outright are more likely to be usable as a bargaining chip in the transaction. Leased units, on the other hand, tend to prompt more hesitance from potential buyers.
“While they may not add dollar value, solar panels may increase the overall appeal of your home.”
So the bottom line is this: If you’re thinking of selling your home in the next few years, let us know and we can discuss whether adding solar panels to your property is the right choice for you.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
