Is solar energy worth it? If you’re debating on whether or not to install solar panels, check out this article on how they increase your home’s value.
With the average homeowner spending more than $3,000 a year on energy costs, the ability to take that number down is a valuable asset.
Rather than having to learn many new tricks or cutting back to a minimalist way of living, many homeowners take advantage of solar power. If you’re wondering “Is solar energy worth it?” you’ll find there are more than just a couple of reasons to install panels.
Here are five of the biggest reasons to install solar panels.
1. Lower Energy Consumption
When your home has a proven ability to have lower energy consumption, it’s no wonder if your home value increases. If you go to sell your home with solar panels installed, you’ll find that people will be willing to pay more for it given the amount of money they could save in the end.
A home that has the benefit of consuming less energy than the average house will attract potential buyers and excite bidders. When people find out the potential benefits of a home with a lower energy consumption rating, they’ll rush at the chance to bid on it. When you consider potentially saving hundreds of dollars a month over the course of 30 years, the benefits are plain to see.
Lower energy bills and a more efficient home means that more money can be invested in continuing to decrease your carbon footprint. The more money you invest in this, the more valuable your home will be as it costs less to maintain.
Everyone who considers buying a home bristles at the thought of having to pay to maintain it. If you don’t take these costs into consideration, you could end up buying more house than you can maintain. Buying a home that has a consistently low energy bill is a smart move for any investor.
2. Increase Your Sales Value
If you’re looking to increase the value of your home, this is the best way to go. In California, where energy bills are sky high, anything that can bring down the costs of living is a bonus.
California solar panels lower the cost of your home’s day-to-day life, but not everyone likes the way that they look. If they’re installed incorrectly or fail to match the style of your home, they’ll decrease your home’s sales value.
However, solar panels installed by professionals won’t see any of the problems that amateur or shoddy installation will bring you. If you put the money into installing them that you should, there’s no reason for them to do anything but make your home more attractive.
Most home buyers are budget-conscious, so solar panels are sure to be a plus.
3. Increase Appraisal Value
If you’re not selling your home, there are still reasons to make periodic improvements to your house’s energy system. A house that’s fallen into disrepair since it was first bought is worth less than it was on the day it was bought. While most real estate investments are considered a sure thing because of the tendency of the market, that’s not a hard and fast rule.
If you’re applying for a loan, one of the things that you can use to prove your ability to pay your loan back is the value of your home. A bank or a lending institution appraises your home to show that you’ve got a valuable asset to fall back on if you fail to pay. If you need a loan that’s beyond what you could pay back with income, your home comes in handy.
By adding solar panels and increasing its resale value, you give lenders the opportunity to see you holding onto a valuable asset. If the panels are high quality and installed professionally, they’ll add a lot of value to your house.
Talk with potential lenders and see what they recommend if you see a big loan in your future.
4. Store For Outages
As California deals with all kinds of energy crises, natural disasters, earthquakes, and fires, the need for power in an emergency is clear. It’s vital to have some backup power on hand when push comes to shove. Outages can happen unexpectedly and solar power ensures you’ve got backup to spare.
California has no shortage of sunshine, even in the winter months. With climate change sure to cause us to change the way we live, solar power is a vital way to preserve our quality of life.
If your home is disconnected from the grid because of downed power lines or exploded generators, you don’t need to worry. Your solar panels will ensure you can maintain your basic energy needs through it all. There’s no price too high when you’re desperate to just keep the lights on during an emergency.
5. Sell Back To The Grid
If you’re really looking for value, your solar panels could end up making you money. If you installed enough panels in the right position, your panel’s generating capabilities are a marketable asset.
Panels that overproduce based on the needs of the house they’re connected to make power that can be sold back to the grid. Across the country, lots of homeowners produce enough power to make a profit. Power grids around the country take all the help they can get when it comes to energy production.
Homes that produce excess power have been selling power to power companies for years.
Rather than just produce enough for you and your family, produce some extra and invest the money in other growing assets.
Still Wondering “Is Solar Energy Worth It?”
If you’re still asking yourself “Is solar energy worth it?” then you must not see the value of making money from your investments. Solar panels are such a good investment in the future of your home that people across the country are not only buying them but investing in stock.
These stocks are so valuable, they’ve been climbing consistently for years.
To learn more about how you can make money from investments like this, check out our blog!