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What is the Effect of Solar Panels on House Values?

Wherever you live, a home with solar power has a competitive edge in today's crowded real estate market. Homes are not selling quickly, and this may remain the case for some time to come. Getting solar panels is a logical way to address your energy needs now and increase the value of your home in the future.

Solar panels must meet a few criteria in order to become an asset. If you are thinking about solar panels, there are several ways you can be sure that they will add value to your home.

Location is a major factor for solar panels in terms of image as well as effectiveness. Of course, they need to placed in the sun (although clouds don't make too much difference), but solar panels shouldn't destroy the natural beauty and style of your home's exterior. Talk with your contractor or solar panel sales expert about many different ideas for panel placement. If the panels will be an eyesore, they can be placed in a sun-facing configuration in the yard, out of the way. Then you can shield them from view with a hedge or attractive garden fencing.

In terms of home sales, another major factor for solar panels is demonstrated effectiveness. You should be prepared to demonstrate solar power savings and the long term viability of the panels. Since your electric bill will be reduced by a substantial amount, be sure to save a year's worth of "before and after" electric bills. You may want to chart the increases in electric power rates as well. Using these documents, you can prove to prospective buyers that the solar panels will save them money. Since most buyers do consider the cost of electricity when buying a home, this should be an asset. Frankly few homes can claim an ongoing financial benefit for their owners in the same way that a solar-powered home can. This fact alone should help ensure that you make back the money that you invested in the panels.

Another major factor is product viability and longevity. Solar panels should be manufactured to the highest standards and should come with warranties. When you have panels installed, or when you install them yourself, make sure to document every step of the way. Keep all warranties, emails, and letters regarding the panels. These documents will help you demonstrate that the panels are high quality. Take pictures of the installation or ask your contractor to take pictures. The pictures can show that the installation was done correctly and with care.

If your panels are old, they may have been battered with tree leaves and other debris. Before putting the house on the market, it is worth having them professionally cleaned and examined. The panels must look effective if you want your home to look its best. Solar panels should help the house sell more quickly.

Solar panels have become one of the best investments that can be made in a home or business. They lower electricity costs. They generally require little maintenance. As a self-generating power system, they add to the value of the property. With the cost of electricity rising every day, investing in solar panels makes sense for home owners. It also makes sense if you plan on selling the property in the future. Harnessing free power from the sun is a smart investment.