Selling your home is a big decision, and you want to make sure it sells at the highest possible price. Solar panels are a great way to save you money on your energy bill, but will they help or hurt you when you try and sell your home?
According to most experts, a solar system can help raise your house value significantly, but only if it is a purchased system, not leased. A leased system doesn’t add any value and can even deter potential buyers since they are required to take over the lease or pay thousands of dollars to have it taken down.
A purchased system is completely owned by the new homeowner. This means that it is considered an added bonus of the home and will factor into your appraisal. It guarantees your money back from the system and a lower power bill for the new resident.
According to Solar Power World, for each watt of solar energy produced about $3 is added onto the home value. With the cost per watt for a solar system at around $3 in Nevada, this means that if your system cost $15,000, you can average about that same amount into the cost of your home.
Some experts even say that having a solar system on your home will help it sell faster than homes without one, especially in areas that are more environmentally conscious or where net metering is well established.
Bottom line is, if you own your solar system it will be added into the appraisal of your home, giving you an added price boost.
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