How Can Solar Panels Increase Your Home’s Value and Efficiency?

If you plan to add an excellent renewable energy source that can result in higher savings on your energy bills, then solar panels can be an option. Another benefit of installing them is to increase your home’s value and get rebates in the process.

Recently, they’ve become a popular alternative because they can help a house sell faster by 20% and increase its value by 4% on average compared to properties without solar panels. Another benefit is that they can reduce your electric bill, which can further attract potential buyers and improve the resale value of your home. Below are some things that you need to know about them.

Solar Panel Installation

Solar panels are a long-term commitment that may require an initial higher upfront cost but can be worth it in the long run. If you’ve decided to install them, you can check out Washington solar installers for more information about the process. You need to consider various factors to see if this investment is worth it, and these are going to be discussed in the following section:

Your Power Requirements

Consider calculating your annual electricity bills and assessing the amount of electricity that you need that the solar panels produce. You can check with an expert in Washington to find out about the local production ratio and the size of the system that you’ll need, which can result in more savings.

Total Sun Hours

While most of the solar panels perform well with direct sunlight, they can also function even in shaded areas. There are situations where they may not get direct sunlight because they are surrounded by trees, or they’re affected by the weather. However, the amount of power that they can generate is related to the amount of sunlight present.

Consult an expert and make sure that they’re going to get an adequate amount of the sun’s rays each day. If you expect partial shade, you might want to use microinverters or DC power optimizers where a shade on a single panel won’t impact the others, which can result in a smaller energy reduction. Learn more about how solar panels work on this webpage here.

Energy System Size

Residential solar panel dimensions have been unchanged for decades, measuring 5.4 ft by 3.25 ft. Depending on the size of the roof, it’s best to ask a professional installer to assess your entire architecture and the sun’s angle so you can achieve your goals with energy production.

Roof Condition

The roof should be in good condition before installing the solar panels. If you require repairs, it’s advisable to fix them before putting up the photovoltaic collectors on top. A thorough assessment with a professional can often help if your roof is sturdy enough for the panels, so don’t miss it. Make sure that no part of the roof will be compromised upon installation, and that it can structurally support the panels for years.

How Do Solar Panels Increase Your Home’s Value?

According to the National Renewable Energy Laboratory, the value of your property can increase by $20 for every $1 saved on your electric utilities. If you can save around $700 each year because of utilizing your solar energy system, then expect to add around $14000 to the price of your property when you decide to sell it.

Around 64% of home buyers consider the energy-efficiency factor to be extremely important whenever they’re searching for a potential home. A boosted resale value can maximize your real estate value, and this is why investors often find these panels to be a wise investment.

Factors that Determine the Value that Solar Technology Provides

There are a lot of reasons why solar installation can be an excellent financial investment. One of them is to save money while waiting for the appreciation of the home. However, the value increase can be determined by the following factors:

Location

The value of a house is determined by its location, and solar panels can have higher valuations if they receive adequate sunlight. Depending on the state, there are government incentives and policies that can increase the value of your home. Living in these areas will give you an advantage if you’re planning to sell your property in the future.

Washington State has a net metering law through RCW 80.60 030 that can let consumers offset their electricity consumption with solar panels. It’s a straightforward process, where people can save more by purchasing electricity from the grid provider when they need it, and they can send back the electricity generated by their solar panels when they don’t need it.

Records are delivered to the company, and some can receive credit when they produce more electricity than when they’re using it. Read info about this when you go to this website: https://www.solarwa.org/solar_incentives.

Savings from Solar Panels

Know the upfront costs of these photovoltaic collectors with the help of the right experts. During the installation, you need to pay for the permits, installation fees, labor, and equipment involved.

Fortunately, you can maximize your investment with rebates, incentives, and credits offered at a local and federal level. There’s a potential return on their investment where they can recover the costs through the savings that they can get from their electric provider.

You might want to be well-versed with the government rebates and incentives first before installing them. Electric companies can provide subsidies when you install them in your home, and you can also know the details of each program in the US through the Database of State Incentives and Renewables & Efficiency Website.

Eventually, you’ll be able to see the benefit of installing these systems, but it might take decades to realize them. However, you might also want to take into consideration the benefits that they offer such as a lower carbon footprint and an eco-friendlier alternative to fossil fuels.

Many homeowners in states like Washington can find out that the savings that they can generate can often outweigh the costs but know that these solar panels can also be extremely reliable, especially if you live in an area with regular power outages.

Conclusion

Overall, solar panels are a great investment, and for those wondering how this increases your home’s value, you can refer to this article as a handy guide. To further maximize your return, pay attention to the factors that can determine the value increase.