Do Solar Panels Increase Home Value In Colorado

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Do solar panels increase home value in colorado.

Solar panels are becoming the most common way to modernize your home and increase its value. Homes equipped with solar power systems sell for 3 74 more than comparable non solar properties. In addition to all that cash and home value you ve created some green for the earth as well by not using electricity from fossil fuels. Solar will not increase the value of your home from what i have seen.

Please do not get tricked talk to your lender because they are the subject matter expert not the solar companies. It s important to note however fannie mae states that leased solar panels cannot be included in a home s valuation. Keep in mind the numbers above are based on an average home in colorado. Buyers simply are not willing to pay more for a home with solar.

Not only can adding solar panels to a home save energy costs and help the environment it also can potentially increase a home s value. A recent study concludes that solar panels increase home value by 26 000 on average. During the past year homes with solar energy systems sold for 4 1 more on average than comparable homes without solar power. The solar panel industry boasts an added home value increase of 15 000 20 000 on average largely due to nearly immediate power bill savings.

If the solar panels are financed considered personal property. It s like planting 123 trees a year every year your solar power system is humming. Installing solar panels in a home not only helps to reduce current monthly utility bills. If there are 2 identical homes and one has lower utility bills due to solar a buyer may prefer that one over the other but won t pay a premium for it.

It can potentially increase the home s value by up to 4 1 more than comparable homes with no solar panels. For the median valued home that translates to an additional 9 274.