How Do Solar Panels Increase Home Value?
When it comes to improving your home’s value, many homeowners wonder, do solar panels increase home value? The answer is a resounding yes. In Illinois and Missouri, solar energy systems not only provide long-term savings on energy costs but also offer energy independence and a commitment to improving our planet. As home buyers increasingly seek energy-efficient homes with a lower environmental impact, solar power rises to the top of the wish list.
But what makes solar such a bright idea? Let’s break it down.
4 Ways Solar Panels Increase Home Value
1. Reduced Energy Bills
Solar panels convert sunlight into electricity for your home, reducing reliance on the utility company and lowering monthly energy bills. Buyers in Illinois and Missouri see this as a built-in advantage, where the summer heat can raise electricity bills into the triple digits. Reduced energy bills means greater cash flow from the home, and the 25+ year life span of the solar energy system means energy savings for decades. It all makes sense for your wallet.
2. Energy Independence
With the greater frequency of severe weather causing power outages and grid reliability, homes with solar panels paired with energy storage batteries like Tesla Powerwall or Enphase IQ Battery—stand out. Buyers recognize the benefit of greater control over their energy use and security during outages. Batteries also enable homeowners to save the energy produced during the daytime for nighttime consumption. As Time of Use billing becomes more prevalent in Illinois and Missouri, the ability to use your own energy during peak pricing time means greater savings.
3. Sustainability is in Demand
More than 80% of homebuyers value energy-efficient features, according to the Zillow Group Consumer Housing Trends Report. Solar panels signal a home’s commitment to reducing its environmental impact, a feature that aligns with the values of many eco-conscious buyers.
4. Solar Incentives
Illinois and Missouri homeowners can tap into incentives to make ownership of a solar energy system more affordable. Illinois and Missouri homeowners can reduce their tax liability with the federal tax credit for solar PV system installations, currently set at 30% of the cost of the system. Illinois homeowners can save up to 65% on solar costs by combining the federal tax credit, Illinois SREC program, and the new Smart Inverter Rebate for Ameren Illinois and ComEd customers. These incentives not only lower installation costs but also enhance a home’s appeal and resale value.
Questions to Ask Before Buying a Solar Home
Not all solar systems are created equal, which can lead many to ask, do solar panels increase home value in every situation? Several factors can impact how much value your solar panels add to your home. Prospective homebuyers should ask these questions to determine the value, longevity, and energy production potential of the system.
1. Is the Solar Energy System Owned or Leased?
Owning your solar system offers the most value, because the energy savings and incentives go directly to the home owner not a third-party. Homes with owned solar PV systems are easier to sell, while leased systems have complicated transfer policies. In some cases, lease payments could increase over time. Leased systems tend to be sold by national installers with limited capability to service your system in the event of an outage.
2. What Is The System Size & Efficiency?
Larger, more efficient systems add more value and energy savings for the home. When purchasing a home with solar panels, ask about the annual energy production, panel degradation and the inverters’ lifespan. For example, REC solar panels convert 20-23% of sunlight into electricity, surpassing industry standards. Microinverters tend to produce more energy than string inverters, especially on homes with shading situations. The more efficiently the solar PV system can convert sunlight to electricity means more savings for the homeowner, a better value for buyers.
3. What Is The Roof Orientation & Condition?
A south-facing roof with minimal shading maximizes solar production. East and west facing roofs are suitable for a solar PV system, but tend to produce 10-15% less energy than a south facing roof. Make sure your home has a healthy, young roof. A solar PV system can last 25+ years, and you want your roof lifespan to match. If you’re unsure about your roof’s suitability, our team at StraightUp Solar can provide a free consultation to evaluate its potential.
4. What Are the Warranties?
High-quality panels from reputable brands with long warranties inspire confidence in buyers. Ask about the warranties on the panels, inverters, and energy storage system. Each piece of equipment offers different time spans for their warranties. StraightUp Solar offers panels with 25-year warranties and ten-year workmanship and performance warranty, giving you and future homeowners peace of mind.
Questions to Ask Before Buying a Solar Home
Not all solar systems are created equal. Several factors can impact how much value your solar panels add to your home. Prospective homebuyers should ask these questions to determine the value, longevity, and energy production potential of the system.
StraightUp Solar: Your Trusted Solar Partner
StraightUp Solar offers a clean energy choice you can feel good about. Brighter energy means paying less on your energy bills, doing your part for the planet, and having more control over your energy. From design to installation, and beyond, we help homeowners and businesses throughout Illinois and Missouri uplift their energy with custom, turnkey solar solutions. We’ve been in business under the same owner since 2006.
As one of the only companies in Illinois with a full-time Service Team, we’ll be around to care for your system long-term. Combined with our warranties, you’ll gain peace of mind and ongoing support.
- 25-year panel warranty
- 10-year workmanship warranty
- 10-year "Sunrise to Sunset" production guarantee
Ready to Boost Your Home’s Value with Solar?
Now’s the time to take control of your energy, increase your home’s value, and enjoy the benefits of solar. Schedule a free consultation with StraightUp Solar today. We’ll evaluate your roof, answer all your questions, and provide a personalized solar quote tailored to your home. Take the first step toward a brighter future—get your free solar quote now!
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