Do Solar Panels Increase Home Value?

"In short, yes-adding solar to your home can increase value. In fact, homes with solar panels typically see up to a 6.9% increase in value . This depends on several factors, including local electricity rates and state policies, the age and efficiency of the system, whether it's owned or leased, and the demand for sustainable homes in your area. In this Redfin article, we'll cover the key factors that affect value, the pros and cons, and the typical installation costs. So whether you're a homeowner in Washington, DC or , you can make an informed decision about adding solar to your home."

"Yes, solar panels increase home value. Studies show that homes with solar panels not only increase in value , but tend to sell for roughly 6.9% more than comparable homes without solar. That said, because the percentage is based on the home's value, the actual dollar increase will vary-6.9% of a $500,000 home is about $34,500, while the same percentage on a $900,000 home approaches $62,100."

Adding solar panels typically raises a home's market value by about 6.9% compared with comparable homes without solar. The dollar increase depends on home price, producing larger nominal gains for higher-valued properties (for example roughly $34,500 on a $500,000 home and about $62,100 on a $900,000 home). Key factors that influence value include local electricity rates and state policies, system age and efficiency, whether the system is owned or leased, and local demand for sustainable homes. Installation costs and incentives affect net return on investment and resale attractiveness.

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